NEW YORK--(BUSINESS WIRE)--Dune Real Estate Partners LP (“Dune”), a leading New York-based real estate investment firm, is pleased to announce that it has added three professionals to its teams in New York and Los Angeles.
Cory Elbaum and Brad Caracausa have joined Dune in New York, where they will be responsible for originating and evaluating new investment opportunities and executing value creation strategies.
Brian Novak joins Dune in Los Angeles. Led by Partner and Head of Acquisitions Russell Gimselstob, Dune’s Los Angeles Office was launched early this year to further evaluate and execute on an expanding set of West Coast-based investment opportunities for Dune.
“We are very pleased to welcome these three experienced professionals to our growing team,” said Dan Neidich, Founder and CEO of Dune. “Their complementary skill sets and expertise will help support our investment activity on both coasts, and we look forward to working closely with them.”
- Cory Elbaum, Managing Director. Prior to joining Dune, Mr. Elbaum was a Managing Director and Head of the North American acquisitions group at Thor Equities, a New York City based real estate company focused on commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide from 2005 to 2017. Prior to that, he was an Associate at Crescent Heights focused on residential acquisitions from 2003-2005. From 1997-2004, Mr. Elbaum was an Analyst and Associate with CIBC Oppenheimer’s Investment Banking Group. Mr. Elbaum received a B.A. in Political Science from The University of Michigan.
- Brad Caracausa, Director. Prior to joining Dune, Mr. Caracausa co-sponsored a middle-market real estate investment firm from 2016 to 2017. Prior to that, he was a Director at Westbrook Partners focused on the firm’s acquisition and investment management activities in the New York City and Washington, DC markets from 2011 to 2016. From 2010 to 2011, Mr. Caracausa worked at Rubenstein Partners as an Analyst focused on equity and debt investments in commercial real estate. Mr. Caracausa began his career as an Analyst in the investment banking division of Deutsche Bank’s Real Estate, Gaming, Lodging and Leisure group from 2008 to 2010. Mr. Caracausa received a B.A. in Economics from Columbia University.
- Brian Novak, Senior Associate. Mr. Novak joins Dune from CIM Group, where he was a Senior Associate. At CIM, he was focused on acquisitions and involved in all aspects of the firm’s investment, development, and financing activities from 2014 to 2017. Prior to that, he was an Associate and Analyst at Pearlmark Real Estate Partners focused on acquisitions from 2011 to 2014. Mr. Novak received a B.B.A. from the University of Wisconsin – Madison.
About Dune Real Estate Partners
Dune Real Estate Partners LP is a New York City-based real estate investment firm currently executing a focused strategy targeting distressed, deep value-add and contrarian investments. Dune manages the Dune Real Estate Funds, which were launched by Mr. Daniel M. Neidich in 2005 and have raised approximately $3 billion of equity capital.
