News, Updates & Publications

A View from the Top: Shaping Retail CRE on the West Coast (Connect Retail West 2025)
Ebony Zepeda Ebony Zepeda

A View from the Top: Shaping Retail CRE on the West Coast (Connect Retail West 2025)

Los Angeles, November 19, 2025- -(connectcre)- -Investment veteran Zoryan of Arselle Investments provided a capital-markets perspective, noting that retail’s recovery cannot be understood without acknowledging the major structural shifts of the past decade. More than 200 million square feet of retail space has been demolished nationwide in the past 10 years, he said, while new supply has grown only minimally. “The denominator is shrinking, but the consumer is actually spending more,” he explained, pointing to the strength of brick-and-mortar sales despite lingering assumptions about e-commerce dominance.

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Tariffs, Taxes, Trepidation: Real Estate Capital Markets
Ebony Zepeda Ebony Zepeda

Tariffs, Taxes, Trepidation: Real Estate Capital Markets

Lusk Perspectives Podcast

Kev Zoryan (Arselle Investments) joins Richard K. Green (USC Lusk Center for Real Estate) to explore the state of capital markets and how today’s environment is reshaping investment strategy. Zoryan shares his path from private equity to launching his own firm addressing the succession gap he sees in real estate organizations.

Highlights include:

- Why matching capital to strategy is more critical than ever
- How return metrics have evolved and what to prioritize
- Where the US stands as a priority for global capital amid uncertainty
- What refinancing challenges may still loom for commercial real estate

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Los Angeles Fires Recovery: Real Estate Community and Key Stakeholders Present Innovative Rebuilding Plans (Urban Land)
Ebony Zepeda Ebony Zepeda

Los Angeles Fires Recovery: Real Estate Community and Key Stakeholders Present Innovative Rebuilding Plans (Urban Land)

In January 2025, wildfires devastated Los Angeles and surrounding areas, destroying homes, offices, schools and infrastructure. In response, ULI Los Angeles joined UCLA Ziman Center for Real Estate and the USC Lusk Center for Real Estate to shape a response plan, created in just six weeks.

Image: A team meeting during the development of the 175-page Project Recovery report. Pictured: Kev Zoryan, founder, Arselle Investments; Lew Horne, president, CBRE Greater Los Angeles Region; Tim Kawahara, executive director, UCLA Ziman Center; Kellie Kao Miles, executive director, ULI Los Angeles; David Waite, partner, Cox, Castle & Nicholson; and Steve Matt, CEO, MATT Construction.

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PERE News: People - A pair of Morgan Stanley veterans strike out on their own…
Ebony Zepeda Ebony Zepeda

PERE News: People - A pair of Morgan Stanley veterans strike out on their own…

Los Angeles, April 8, 2025 --(PERE News)-- A pair of Morgan Stanley real estate veterans have reunited to start their own private investment platform. Kev Zoryan and Aaron Greeno announced last week the launch of Arselle Investments, a Los Angeles-based manager that will target investments in vertically integrated real estate operating companies, according to its website. Zoryan spent 25 years at Morgan Stanley, most recently as head of US asset management for Morgan Stanley Real Estate Investing, a role he held since 2019. Greeno, meanwhile, spent 13 years at Morgan Stanley, rising to managing director and co-head of US real estate investments before leaving in 2020 for Dune Real Estate Partners, where he spent the last five years as a partner and head of its West Coast region.

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