EDUCATION
Masters of Business Administration - Northwestern University, Kellogg School of Management
Bachelors of Science in Civil Engineering - University of Illinois at Champaign / Urbana
Certificate from the Advanced Management Development Program for Real Estate - Harvard Graduate School of Design
ACHIEVEMENTS
Licensed Illinois Real Estate Managing Broker
Real Estate Chicago Magazine ‘Top 40 Under 40’ list
Served on multiple Selection Committees for $15 Billion O’Hare Modernization Program
Serves on Board of Directors for Rush University Medical Center Associates Board
Served on Board of Directors for the Kellog Alumni Club of Chicago
Served on Board of Directors for the Chicagoland Entrepreneurial Center
Served on Board of Directors for The Society of Industrial and Office Realtors (SIOR)
ACTIVE INVOLVEMENTS
World Presidents Organization / Entrepreneurs Organization - Mentorship Chair
The Executive’s Club of Chicago = Commercial Real Estate and Membership Committees
Chicagoland Chamber of Commerce - Active Member
Italian American Chamber of Commerce (Midwest) - Active Member
Urban Land Institute - Public Policy Committee
Lambda Alpha, the Honorary Society for the Advancement of Land Economics - Active Member
COLBA (the Chicago Office Leasing Broker Association) - Active Member
The Harvard Club of Chicago - Active Member
Small Business Advocacy Council - Co-Chair Commercial Real Estate & Membership Committees
Kellogg Graduate School of Management - Mentor
Parent Association, St.Ignatius High School - Active Member
American Youth Soccer Organization (AYSO) - Coach and Referee
DaVE Ariola
MANAGING DIRECTOR
dariola@murphyres.com
David is an expert at executing every phase of large, complex development projects including raising equity, master planning, entitlements, and design and construction management. He has personally provided the leadership on over $2 billion worth of projects in most product types including hi-rise, industrial, multi-family, hospitality, community, office, and historic rehabs primarily located on complex urban sites.
As a Managing Director and Partner at Murphy Real Estate Services, David manages the execution phase of the most complicated projects. During his tenure, he has overseen several large-scale projects including Highpoint at 8000 N Lincoln—a class A luxury apartment developed as a public-private partnership with the Village of Skokie. Other recent projects include The Paragon, a 500 unit multifamily hi-rise in Chicago; 318 N Carpenter, a 110,000 sf new office building in Fulton Market; and the Cambria Hotel in Milwaukee.
David has a comprehensive understanding of complex financing structures including TIF, tax credits and other governmental incentives and the ability to properly implement these programs into developments. This unique perspective developed through his project experience and his appointment by the Mayor of the City of Chicago to serve as a Commissioner (and eventually Secretary) of the Community Development Commission from 2000 to 2009. The CDC reviews all City subsidized developments and TIF deals.
David is a licensed broker and has performed every type of commercial real estate transaction including office and retail leasing, dispositions, and acquisitions. He has achieved the SIOR designation, one of the most prestigious in commercial real estate.
Further, David has served as a member of the Rush University Medical Center’s Board of Trustees Facilities Committee since 2010 and has been actively involved in many strategic planning studies and public relations issues related to a complex urban site as well as delivering over $1.9 billion of hospital, outpatient and specialty building projects.