CREC Real Estate, a private equity real estate investment firm based in Columbus, Ohio, has closed its second real estate fund with $80 million in commitments from institutions, family offices and high-net-worth investors.
CREC Real Estate Fund II will invest in multifamily real estate in fast-growing secondary markets with a value-add approach. The fund targets properties where job and population growth have led to an undersupply of housing.
“As we closed our 54th real estate investment during our 20th year as a sponsor, I appreciate the confidence and continued investment of our limited partners,” said Jeff Coopersmith, founder and chairman of CREC. “After these past two years of significant challenges across the economy, I believe we will continue to find significant opportunities for CREC to source additional investments and improve the value of those assets through value-add renovations coupled with sophisticated property management.”
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