Aaron Ruben
Des Moines,IA
Summary
Visionary real estate development executive with 25+ years in commercial, mixed-use, healthcare, hospitality, retail, and multifamily projects globally. Delivered over $500M in development value while enhancing asset performance and driving EBITDA growth. Skilled in site selection, land acquisition, entitlements, underwriting, and complex negotiations, fostering stakeholder alignment and optimizing portfolios.
Overview
24
24
years of professional experience
1
1
Certification
Work History
Head of Real Estate
Krause+
Des Moines, IA
01.2025 - Current
- Advised ownership on global real estate strategy across wine, professional soccer, and development verticals as a senior leadership team member.
- Direct $500M+ mixed-use downtown Des Moines development, including a professional soccer stadium, entertainment district, and commercial assets.
- Lead international real estate operations across the U.S. and Italy, overseeing development, property management, and facilities teams.
- Led redevelopment of Stadio Ennio Tardini in Parma, Italy, coordinating international consultants, municipal stakeholders, and ownership to achieve project entitlements and design approval.
- Oversaw €6.7M renovation of Vietti Winery in Piedmont, Italy, ensuring effective capital deployment, contractor performance, and on-schedule project execution.
- Developed acquisition and underwriting strategy for hospitality and vacation rental investments in Okoboji, IA, focusing on cap rates, returns, and long-term value creation.
Executive Vice President, Real Estate & Development
Casto Southeast Realty, LLC
04.2018 - 01.2025
- Founded healthcare real estate platform, establishing underwriting standards, development protocols, and a long-term growth strategy that positioned the firm as a leader in healthcare real estate.
- Led acquisition, due diligence, entitlement, and ground-up development in healthcare, retail, and multifamily sectors, successfully expanding portfolio and enhancing market presence.
- Structured and negotiated LOIs, leases, purchase agreements, and joint ventures with healthcare systems, national tenants, and capital partners.
- Managed cross-functional teams through planning, entitlement, and construction, achieving on-time and on-budget project delivery across multiple high-profile developments.
- Built detailed financial models and pro formas for executive and board approval, analyzing IRR, ROI, and cash-on-cash returns.
- Negotiated complex debt and equity structures; maintained lender relationships through capitalization, construction, and stabilization.
Vice President, Real Estate & Development
CraftWorks Restaurants & Breweries, Inc.
04.2016 - 04.2018
- Managed 160-location national restaurant portfolio, overseeing real estate strategy, new development, lease administration, and renewals.
- Negotiated real estate transactions, driving favorable terms for leases, restructures, amendments, and dispositions.
- Delivered $750K+ in annual rent savings and $700K in one-time savings through renegotiations.
- Preserved $3M in annual EBITDA via strategic lease extensions, buyouts, and portfolio restructuring.
- Standardized development and approval processes company-wide, enhancing scalability and efficiency.
- Restructured organization to reduce departmental overhead by $275K annually, optimizing resource allocation.
- Directed facilities management across portfolio, managing $6M annual repair and maintenance budget.
Director of Development / Vice President
Redstone Investments / Redstone Commercial
06.2014 - 03.2016
- Oversaw development and construction across 5.5M+ SF national commercial portfolio (retail, office, mixed-use).
- Led entitlements, secured zoning approvals, and conducted due diligence for new development and redevelopment projects, ensuring compliance and feasibility.
- Evaluated acquisition and value-add opportunities through financial modeling and risk analysis, identifying strategic investments to enhance portfolio value.
- Negotiated leases with national, regional, and local tenants for spaces ranging from 1,200 to 155,000+ SF, optimizing tenant mix and occupancy rates.
Director of Real Estate
Coast Dental Services, Inc.
12.2013 - 06.2014
- Directed site selection and lease negotiations across five-state portfolio (FL, GA, TX, NV, CA).
- Oversaw national broker network and outside counsel in support of acquisitions and leasing, ensuring alignment with strategic objectives.
- Created investment pro formas and business cases that facilitated informed executive decision-making.
- Developed and implemented company-wide real estate development and portfolio management standards, enhancing operational consistency.
Director of Real Estate
Ruby Tuesday, Inc.
07.2011 - 11.2013
- Negotiated rent reductions, restructures, and buyouts, increasing profitability by over $5M.
- Secured 19 out of 26 transactions for Lime Fresh Mexican Grill, enhancing brand presence.
- Developed expansion strategies across 11 states and Washington, D.C.
- Generated over $3.5M in revenue through subleasing and assigning underperforming locations.
Vice President
RH Development
01.2004 - 07.2011
- Led underwriting, budgeting, and lender negotiations while overseeing leasing and construction processes.
- Managed leasing and construction teams, ensuring project alignment and performance with five direct reports.
- Participated in $100M+ in real estate transactions (acquisitions, dispositions, financing).
- Negotiated partnership agreements enhancing collaboration for residential and commercial development projects.
Construction Management
Benderson Development Company
01.2002 - 01.2004
- Managed construction of Hilton Garden Inn and Homewood Suites properties, focusing on schedule, budget, and quality control.
- Provided technical guidance on construction management issues, enhancing safety protocols, scheduling, budgeting, and quality control.
- Reviewed construction management practices to ensure compliance with environmental regulations regarding debris and chemical contamination.
- Assisted in construction management by monitoring project progress and ensuring regulatory compliance.
Education
Bachelor of Science - Legal Studies (Real Estate Emphasis)
University of Central Florida
01.2004
Skills
- Real estate development
- Mixed-use and urban redevelopment
- Multifamily development
- Healthcare and retail real estate
- Site selection and land acquisition
- Entitlements and zoning
- Lease negotiation
- LOIs and purchase agreements
- Joint venture structuring
- Financial modeling and investment pro formas
- Capital budgeting
- Debt and equity financing
- Market and demographic analysis
- Asset and portfolio management
- Construction management
- Tenant coordination
- Facilities and property management
- Risk mitigation
- ROI, ROA, and ROE optimization
- Investor relations
- Executive leadership
Certification
Florida Real Estate Brokers License
Timeline
Head of Real Estate
Krause+
01.2025 - Current
Executive Vice President, Real Estate & Development
Casto Southeast Realty, LLC
04.2018 - 01.2025
Vice President, Real Estate & Development
CraftWorks Restaurants & Breweries, Inc.
04.2016 - 04.2018
Director of Development / Vice President
Redstone Investments / Redstone Commercial
06.2014 - 03.2016
Director of Real Estate
Coast Dental Services, Inc.
12.2013 - 06.2014
Director of Real Estate
Ruby Tuesday, Inc.
07.2011 - 11.2013
Vice President
RH Development
01.2004 - 07.2011
Construction Management
Benderson Development Company
01.2002 - 01.2004
Bachelor of Science - Legal Studies (Real Estate Emphasis)
University of Central Florida