CHICAGO--(BUSINESS WIRE)--Cresset Diversified Real Estate announced today that Dominic DeRose has been named Director of Investments. In his role, DeRose will focus on the firm’s vast real estate portfolio with an emphasis on their qualified opportunity zone efforts, as well as a series of smaller real estate funds focused on various strategies, including industrial development and distressed investments.
Together, Cresset Partners and Diversified Real Estate Capital manage the Cresset Diversified QOZ Funds, along with a variety of real estate and private equity strategies. The two partners are leaders in finance, real estate, private equity, and wealth management, with Cresset Asset Management, LLC, overseeing $10 billion in AUM through private wealth management, and Diversified Real Estate Capital managing a $5 billion real estate portfolio.
“Dominic has the demonstrated track record of success and deep experience across all aspects of the real estate space that we were looking for in a new team leader,” said Eric Becker, Founder and Co-Chairman at Cresset Partners. “We knew early on that qualified opportunity zones presented an intriguing and fast-growing investment category, and our early entry into the area has enabled us to become one of the largest QOZ managers in the country. We’re excited for Dominic to join the team and help build on that momentum.”
Prior to joining Cresset Diversified, DeRose was a senior associate in Colliers International’s industrial advisory group. At Colliers, he developed financial models for acquisitions, dispositions and leases on behalf of investors. He also produced multiple predictive models that incorporated the use of artificial intelligence, in addition to participating in and negotiating real estate transactions totaling more than $400 million.
DeRose earned his Master of Business Administration from the Kellogg School of Management at Northwestern University.
“I’m privileged to be a part of a dynamic team that’s quickly established themselves as a leading voice in the real estate investing community,” said DeRose. “I look forward to working with the Cresset Diversified team, our partners, and the firm’s clients to help them achieve their investment goals.”
About Cresset Diversified Real Estate
Cresset Partners, led by private equity entrepreneurs Avy Stein and Eric Becker, united with Diversified Real Estate Capital, led by Larry Levy, to create a joint venture partnership focused on core real estate development investments in Qualified Opportunity Zones. The Cresset-Diversified partnership launched its first fund, Cresset-Diversified QOZ Fund I, in December 2018 and raised $465 million to invest in seven institutional-quality projects located in top-tier markets around the country. Cresset-Diversified recently announced the launch of their second fund, Cresset-Diversified QOZ Fund II, which will similarly target opportunity zone projects with the potential for substantial risk-adjusted, tax-advantaged returns. Fund II will invest in core urban markets across the country with a focus on multi-family, office, industrial and retail investments located in QOZs.*
*The contents hereof are not to be used as the basis for making any investment decision and are not a recommendation of, or solicitation for, the subscription, purchase, or sale of any security, including the fund mentioned herein.