Real Estate Development Advisory

Institutional discipline, developer instincts.

Developer-side project management, owner's representation, and cost management for Southern California — from due diligence and entitlements through design, construction, and close-out.

Southern California  ·  Project Management  ·  Owner's Representation

Discuss Your Project
$3.5B+
Project value delivered
3,000+
Residential units
30+
Years combined
50+
Projects delivered

Who We Are

Developer-side project management for Southern California.

R&S Partners is a Southern California real estate advisory firm providing developer-side project management, owner's representation, and cost management. We guide projects across the full lifecycle — from due diligence and entitlements through design, construction, and close-out — pairing 20+ years of SoCal development leadership with institutional-grade project controls, plus $4B+ in large-scale infrastructure experience for technically complex work.

Asset Focus

  • Multifamily — market-rate & value-add
  • Mixed-Use developments
  • Transit-Oriented Development
  • For-Sale Residential / Condo
  • Senior Housing

Who We Serve

  • Developers
  • Institutional Capital & REITs
  • Family Offices
  • Equity Partners
  • Owners & Asset Holders

What We Do

From underwriting to close-out.

01

Program & Project Leadership

Full lifecycle management — concept through completion, on behalf of the owner.

02

Financial & Cost Management

Budgets, proformas, cashflow and proactive cost control against actuals.

03

Underwriting & Modeling

Return-on-cost and IRR modeling, feasibility and pricing analysis.

04

Entitlements & Design Mgmt

CEQA / SB 330 approvals and coordination of the full design team.

05

Procurement & Contracting

GC selection, competitive bid management and contract negotiation.

06

Planning & Scheduling

Critical-path schedules, milestone tracking and delay mitigation.

Our Approach

How we work.

01

Developer-side perspective

Every decision is made with ownership's economics in mind — because we've sat in the developer's seat.

02

Cost discipline from day one

Budget and schedule risk is identified early and managed proactively — not discovered late.

03

One team, full lifecycle

Entitlements, design, procurement and construction under one accountable team — no handoff gaps.

04

Institutional-grade controls

PMP-certified project controls and reporting that institutional capital expects on every engagement.

Representative Projects

Selected work across the partnership.

$250M

Art-Com, Compton

Mixed-Use / TOD · Compton, CA

516 units + 25K SF retail

$1B+

Relevant DTLA

Mixed-Use / Repositioning · Los Angeles, CA

4 high-rise sites

$122M

Crescent Park

Value-Add Multifamily · Playa Vista, CA

214 units · NAHB award

$276M

Howard Hughes / Altitude

Multifamily · Playa Vista, CA

545 units

$130M

Jia, Chinatown LA

Mixed-Use · Los Angeles, CA

280 units

$168M

Westgate 480

Multifamily · Pasadena, CA

480 units

$85M

Chino Hills Parkway

For-Sale Townhomes · Chino Hills, CA

130 units · Sold 2026

$190M

1200 S Olive

Mixed-Use · Los Angeles, CA

398 units · In Development

A selection from 50+ delivered projects. Full project database available on request.

The Team

Clients hire people, not firms.

Dustin Smith

Dustin Smith

Partner — Development & Strategy
Beverly Hills, CA · 20+ years

20-year veteran of Southern California real estate development. Founder of DL Smith Company, providing developer-side advisory to institutional and private clients.

  • Former VP of Development, Equity Residential (Fortune 500 REIT)
  • Former Managing Director, Alliance Residential
  • 3,000+ units & $3.5B+ in project value delivered
  • Multifamily, mixed-use, for-sale & senior housing
Isabel Ronda

Isabel Ronda

Partner — Project & Cost Management
Manhattan Beach, CA · 10+ years

PMP-certified Senior Project & Cost Manager. Founder of MindPM, bringing institutional-grade project controls to real estate and large-scale infrastructure.

  • PMP (PMI) & OSHA 30 certified
  • Former Senior Project Manager, Turton Bond (DTLA)
  • $60M–$1.8B projects across real estate & infrastructure
  • M.S. Civil Engineering (Structures), Univ. of Cantabria

Why R&S

What you get with R&S.

01

A partner who has sat in the developer's seat — former Equity Residential VP and Alliance Managing Director — so decisions are made with ownership's economics in mind.

02

PMP-certified cost and schedule controls on every project — so budget and timeline risk is managed proactively, not discovered late.

03

One integrated team across the full lifecycle — entitlements, design, procurement and construction — with a single point of accountability.

04

Rare cross-disciplinary depth — $3.5B+ in development paired with $4B+ in infrastructure — so technically demanding projects are in experienced hands.

Contact

Let's talk about your next project.

Southern California owner's representation and development management. Reach either partner directly.

Dustin Smith · Development & Strategy
310-570-6863  ·  dustin@rspartnerspm.com
Isabel Ronda · Project & Cost Management
424-350-5138  ·  isabel@rspartnerspm.com
Office
Los Angeles, California