Cresset Partners, led by private equity entrepreneurs Avy Stein and Eric Becker, partnered with Diversified Real Estate Capital, led by Larry Levy, to create Cresset Diversified Real Estate, a joint venture partnership that looks to be Core real estate development investments concentrated in Qualified Opportunity Zones. Cresset Diversified Real Estate recently restructured and founded Cresset Real Estate Partners. Cresset Real Estate Partners was founded by a team of real estate entrepreneurs and manages a rapidly growing real estate portfolio on behalf of institutional investors and family offices, currently valued at over $ 3 billion.
Cresset Real Estate Partners is currently launching the Cresset Diversified QOZ Fund II, which targets opportunity zone projects with the potential for substantial risk-adjusted, tax-deferred returns. Fund II recently closed its first deal – two apartment buildings in the Seattle metropolitan area – with one contract under contract and another contract under LOI. Previously, 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-grade projects in prime markets across the country. *
* The content of this document may not be used as the basis for an investment decision and is not a recommendation or an invitation to subscribe for, buy or sell any securities, including the fund mentioned here.
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