NEW YORK--(BUSINESS WIRE)--Cadre, the technology-driven real estate investment manager, today announced the appointment of Dan Rosenbloom and Javier Benson-Glanz to chief executive roles. Dan Rosenbloom will now serve Cadre as Chief Investment Officer, while Javier Benson-Glanz will serve as Chief Operating Officer following years serving the firm’s investor base. These changes reflect Cadre’s continued momentum into 2023 as the firm aims to advance on recent growth.
“We are beyond excited to announce the promotion of Dan and Javier – both have developed reputations for excellence over their respective tenures at Cadre and are poised to play critical expanded roles in 2023 as we approach new milestones,” said Jared Kaplan, Cadre’s CEO. “We expect their new roles will amplify Cadre's ability to provide compelling products and services to our investor base.”
Under his new title of CIO, Dan Rosenbloom will oversee Cadre’s strategic position in the CRE market, as well as its acquisition and asset management activity. In addition, Mr. Rosenbloom will help establish the firm’s target markets, sectors, and risk tolerance as a member of the Investment Committee and increase his involvement in capital raising efforts. Mr. Rosenbloom has over 25 years of private equity real estate experience, previously leading Cadre’s acquisitions team before becoming Head of Investments in 2021. His institutional investment background spans leadership roles at firms including GEM Realty Capital, Fortress Investment Group, and J.P. Morgan.
As Chief Operating Officer, Javier Benson-Glanz will continue to lead Cadre’s efforts in market penetration, product offering expansion, and maintaining operational efficiencies. His focus will include addressing demand from new investor bases, as well as building out best-in-class analytics and investor relations functions. Prior to becoming COO, Mr. Benson-Glanz was elevated from being the General Manager of Cadre’s core products to the Head of Business Operations and Growth, and also served as interim Chief Marketing Officer. Mr. Benzon-Glanz previously served in strategic roles at Airbnb, 643 Capital, Barclays, and more.
Cadre’s appointments come on the back of a momentous year that saw the firm establish a high-profile leadership team through hires across engineering, marketing, product, and chief executive roles. Following a string of strong property sales, Cadre also reached more than $460 million in gross distributions to investors and 27.6% in realized net returns.1,2 In addition, the firm expanded its pool of leading institutional partners like BlackRock and The MacArthur Foundation, and launched The Cadre Horizon Fund – a product for income-oriented investors.
Cadre is a commercial real estate investment manager that invests alongside individuals and institutions on our tech-driven platform. As a fiduciary, we have a distinct responsibility to investors. Our highly disciplined process features innovations in market selection, asset management, and rigorous due diligence. We are committed to expanding access to this essential asset class, which has long contributed to legacy wealth.
Since inception, Cadre has earned investors 27.6% realized net IRR in $4 billion of real estate transactions across the U.S.1 To learn more about Cadre and view our full track record and important disclosures, visit cadre.com/track-record.
Not Advice: This communication is not to be construed as investment, tax, or legal advice in relation to the relevant subject matter; investors must seek their own legal or other professional advice.
Performance Not Guaranteed: Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are not guaranteed and may not reflect actual future performance.
Risk of Loss: All investments involve a high degree of risk and may result in partial or total loss of your investment.
Liquidity Not Guaranteed: Investments offered by Cadre are illiquid and there is never any guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved.
1 Data as of December 31, 2022. IRR calculation represents an equity-weighted average annualized internal rate of return (IRR) for all single-asset realized real estate investments of offerings firm-wide by Cadre since the formation of our Investment Committee on March 31, 2016, through to the date of calculation, after deduction of fees and expenses. Calculations assume no fee breaks or concessions were applied to any underlying offering. Equity multiple represents the investment multiple on equity, which is calculated by dividing the aggregate realized proceeds for the applicable investment after deduction of fees and expenses. Realized and updated target returns are inclusive of all of Cadre’s completed dispositions. Realized returns are subject to change following final distributions on sold assets. Calculations are generally made as of the date of the sale of the applicable asset and may include targeted proceeds that are to be distributed to the vehicles managed by Cadre (but which have not been realized by the vehicle as of the date of calculation). The calculation of net return figures for each investment pertains to single-asset investment vehicles only. The calculation of net return figures for each investment in a multi-investment fund vehicle is difficult, if not impossible, to prepare with accuracy due to the estimation of fund-wide expenses and other variable fees applicable to each investment that are necessary for such calculations. Returns reflect net performance and are not audited. Other vehicles, such as the Cadre Direct Access Fund LP and parallel vehicles, are also participants in these investments.
2 Gross Distributions to Investors refers to the sum of any income distributions, sale gains, and return of capital without deduction for any investor-specific withholding or preferred equity payments. Updated on September 31, 2022.