Cresset Diversified Real Estate, a real estate investment company, has hired Dominic DeRose as director of investments. In his role, DeRose will focus on the firm’s 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.
Cresset Partners and Diversified Real Estate Capital manage the Cresset/Diversified qualified opportunity zone funds, along with a variety of real estate and private equity strategies. Cresset Asset Management oversees $10 billion in assets under management through private wealth management, and Diversified Real Estate Capital manages 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.
Prior to joining Cresset Diversified, DeRose was a senior associate in Colliers International’s industrial advisory group. During his 10-year tenure at Colliers, he developed financial models for acquisitions, dispositions and leases on behalf of investors. The company said that 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.
The Cresset-Diversified partnership launched its first fund, Cresset-Diversified QOZ Fund I, in December 2018 and raised $465 million to invest in seven projects 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 and will invest in core urban markets across the country with a focus on multifamily, office, industrial and retail investments.