Multifamily Developer Pinnacle Expands Footprint Throughout Florida With Addition Of Seasoned VP Of Development

Pinnacle announced the addition of Alex Arostegui as Vice President of Development.

In this role, Arostegui will oversee all aspects of the development process for Pinnacle’s multifamily and mixed-use projects in Florida.

Arostegui brings years of experience managing large-scale multifamily developments from conception to completion. He most recently served as Senior Development Manager for The Morgan Group, where he led a portfolio of four development projects totaling over 1,400 units.

“We are thrilled to have Alex join the Pinnacle team,” said Hugo Pacanins, Pinnacle’s Partner and Chief Executive, Market Rate Division. “His extensive background in multifamily development and knowledge of the Florida real estate market make him an invaluable addition as we continue expanding our development pipeline across the state.”

At Pinnacle, Arostegui will be responsible for guiding projects from start to finish, ensuring they meet financial goals and represent the company’s interests. Key responsibilities include overseeing proposals and bids, conducting financial analysis, directing teams, and negotiating with partners like architects, attorneys, brokers and lenders.

Arostegui brings significant development management experience, having previously worked for top firms like Stiles Residential Group and The Morgan Group. Notable projects he has worked on include Novo Las Olas, a 341-unit luxury high-rise in Ft. Lauderdale that features a Greenwise Market on the ground floor; The Ellsworth, a 315-unit luxury mid-rise in Plantation; Baldwin Point, a 305-unit luxury mid-rise located in the Baldwin Park neighborhood outside Orlando; and more.

Outside of work, Arostegui served as a member of the City of Plantation’s Planning and Zoning Board until the beginning of 2023. He is a member of industry organizations like the Urban Land Institute (ULI) and ULI’s Young Leaders Network. He also supports cancer research through the Dolphins Cancer Challenge, which benefits Sylvester Comprehensive Cancer Center.

Arostegui holds a Bachelor of Science in Economics from Florida State University and a Master’s in Real Estate Development from Nova Southeastern University.