CIRE Equity
CIRE Equity is a vertically integrated real estate private equity firm that acquires and operates industrial, retail, multifamily, and medical commercial properties through its CREIT private non-traded perpetual-life REIT, serving accredited high-net-worth investors, family offices, and wealth management partners.
- Company typePrivate
- Founded2010
- HeadquartersSan Diego, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What CIRE Equity does
CIRE Equity is a vertically integrated real estate private equity firm founded in 2010 and headquartered in San Diego, California, with additional offices in Los Angeles and Phoenix. The firm acquires, owns, and operates commercial real estate assets across industrial, retail, net-lease, multifamily, office, and medical property types, with portfolio holdings spanning the West, Southwest, Midwest, and Southeast regions of the United States. CIRE's co-founders, Joshua Volen and Trevor Smith, have completed more than 200 transactions exceeding $1.5 billion in cumulative volume, growing portfolio assets under management to over $800 million across 54 properties.
The firm's core product is CREIT (CIRE Real Estate Investment Trust, LLC), a private, non-traded, perpetual-life REIT established in May 2019 with an initial contribution of 11 assets. CREIT offers accredited investors direct exposure, with a $100,000 minimum initial investment, as well as 1031 and 721 exchange pathways for tax-efficient reinvestment. Underwriting, asset management, property management, fund accounting, and construction management are handled in-house through the firm's vertically integrated operating model, with CIRE principals maintaining 50%+ co-investment in CREIT alongside outside investors. A debt fund (Mortgage Office) was added to the product suite circa 2020, extending the platform beyond equity-only strategies. Investor onboarding and reporting are delivered through a Juniper Square-powered investor portal, supported by a dedicated Investor Relations team and RIA/wealth-management distribution partnerships.
Revenue is generated through recurring asset management fees on CREIT AUM, transaction fees on acquisitions and dispositions within the portfolio, and performance-based economics tied to investor returns. The firm targets a 6% current dividend yield and reports a 16%+ average net IRR since CREIT inception in September 2019, with 35% IRR / 2.4x equity multiple on historical realized returns. CIRE's investor base consists primarily of high-net-worth individuals, family offices, and institutional wealth management partnerships. No public ticker or external institutional investment is disclosed; the firm operates as an independent, privately held entity controlled by its co-founders.
CIRE Equity firmographics
Firmographics- Name
- CIRE Equity
- Legal name
- CIRE Equity
- Website
- https://cireequity.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CIRE Equity is a vertically integrated real estate private equity firm that acquires and operates industrial, retail, multifamily, and medical commercial properties through its CREIT private non-traded perpetual-life REIT, serving accredited high-net-worth investors, family offices, and wealth management partners.
- Ownership category
- akta.pro rank
CIRE Equity industry classification
Industry- Product category
- Private Real Estate Investment Trust (REIT) Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)
- SIC
- Real Estate Investment Trusts (6798), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Commercial Real Estate Asset Management (BPAJAMAB)
- akta.pro secondary industry
- REITs & Listed Real Estate Securities (FSAAAKAD)
Keywords
Where CIRE Equity is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
CIRE Equity business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Real Estate Investment Management: Management of CREIT (private non-traded perpetual-life REIT) generating revenue through asset management fees and performance-based compensation tied to portfolio returns and investor distributions
- Transaction Fees: Acquisition and disposition fees from buying and selling real estate assets within the portfolio
- Performance-based Returns: Principals co-invest alongside investors, with fund co-investment by CIRE Principals at industry-leading alignment levels, generating returns through durable cash flow and value-add appreciation
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Standard accredited investor minimum |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
CIRE Equity product offering
Product offeringCore offering
CIRE Equity operates CREIT (CIRE Real Estate Investment Trust), a private, non-traded, perpetual-life real estate investment trust that gives accredited investors exposure to a diversified portfolio of U.S. commercial real estate across industrial, retail, net-lease, multifamily, office, and medical properties. The firm acquires and manages these assets through a vertically integrated platform spanning asset management, property management, fund accounting, and construction management, and supports investors through direct investment and 1031/721 exchange pathways.
Product overview
CIRE Equity is a vertically integrated real estate private equity firm operating primarily through its core product, CREIT (CIRE Real Estate Investment Trust) — a private, non-traded, perpetual-life REIT established in May 2019. CREIT encompasses diversified commercial real estate holdings across industrial, retail, net-lease, multifamily, office, and medical properties, providing investors with exposure to income-generating assets in growth markets. The firm also offers direct investment and 1031/721 exchange pathways, along with an investor portal for ongoing portfolio management and reporting.
Differentiator
Problem solved
Functional benefit
Brands
- CREIT: CIRE Real Estate Investment Trust, LLC - a private, non-traded, perpetual-life REIT offering diversified exposure to U.S. commercial real estate in growth markets across industrial, retail, net-lease, multifamily, office, and medical properties.
Products and services
- CREIT (CIRE Real Estate Investment Trust) CREIT is a private, non-traded, perpetual-life real estate investment trust offering accredited investors exposure to income-generating U.S. commercial real estate across industrial, retail, net-lease, multifamily, office, and medical properties, with the goal of durable cash flow, capital appreciation, and tax-efficient returns.
- 1031 and 721 Exchange Investment Pathway Tax-efficient investment pathway that allows accredited real estate owners to defer capital gains taxes by exchanging sale proceeds (1031) or appreciated property (721) into CREIT units, gaining diversified commercial real estate exposure in lieu of identifying a single replacement property.
- Investor Portal (Juniper Square) Online investor portal providing subscription processing, quarterly reporting, NAV updates, distribution information, and investment tracking for CREIT investors.
Quantifiable outcome
- 16%+ average net IRR since inception (September 2019)
- +4 more outcomes
Companies that use CIRE Equity
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
CIRE Equity technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
CIRE Equity partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor.
- Hawaii Community Foundation (Maui Strong Fund)minorCharitable partnership supporting disaster relief efforts in Maui following the 2023 fires
- Peoria Education FoundationminorCommunity support partnership supporting education initiatives in Peoria, AZ
- World Central KitchenminorCharitable partnership supporting food relief efforts through Chef's for Ukraine initiative
- San Diego Food BankminorCorporate volunteer day and food donation partnership at San Diego location
- Feeding AmericaminorVirtual food bank partnership raising over $6,600 (66,000+ meals) in 2023 holiday campaign
- Neighbor.orgminorCommunity support partnership through Fat Joe partnership
- RENOVA Homeless OutreachminorCommunity support partnership addressing homelessness
- Women's Giving FundminorWomen's philanthropy initiative partnership
- Arts Council of Mendocino CountyminorArts champion partnership recognizing business contributions to local arts through Pear Tree Center collaboration
- Greater Ukiah Business and Tourism AllianceminorOngoing sponsor of community events including Sundays in the Park, PumpkinFest, and Ukiah on Ice
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
CIRE Equity competitors and assessment
Company assessmentBroad incumbents
- Blackstone Real Estate Income Trust (BREIT): The largest private non-traded perpetual-life REIT in the U.S., offering diversified commercial real estate exposure to individual investors. Direct comparison point for CIRE's CREIT structure, investor product design, and perpetual-life distribution model, though at vastly greater scale.
- Brookfield Real Estate Income Trust (BREIT): Non-listed perpetual-life REIT sponsored by Brookfield offering diversified CRE exposure to individual investors. Comparable product and investor channel to CIRE, with a much larger sponsor balance sheet and broader geographic mandate.
- BlueRock Homeshield (Blackstone) / Related private REIT platforms: Large multi-strategy sponsors operating perpetual-life private REITs and closed-end CRE funds. Comparable investor wrapper and diversified CRE approach to CIRE's CREIT, with greater scale and product breadth.
Direct peers
- Starwood Real Estate Income Trust (SREIT): Perpetual-life private REIT sponsored by Starwood Capital, investing in diversified commercial real estate for individual investors. Closely comparable to CIRE Equity in structure, target investor, and multi-sector CRE strategy.
- JLL Income Property Trust: Non-listed REIT sponsored by Jones Lang LaSalle that invests in diversified U.S. commercial real estate for individual and institutional investors. Same perpetual-life, multi-sector mandate and similar accredited-investor distribution as CIRE's CREIT.
- KBS Real Estate Investment Trusts: Sponsor of multiple non-listed REITs focused on diversified commercial real estate, distributed primarily to individual and RIA-channel investors. Comparable product wrapper, fund structure, and target investor base to CREIT.
- Crow Holdings Capital: Vertically integrated U.S. commercial real estate investment manager with both commingled funds and perpetual-life vehicles targeting accredited investors. Directly comparable vertically integrated operating model and middle-market CRE focus.
- AEW Capital Management: Large U.S. commercial real estate investment manager operating diversified core, value-add, and debt strategies with both institutional and wealth-channel vehicles. Comparable diversified CRE mandate, vertically integrated asset management capability, and wealth-channel distribution to CIRE.
Emerging players
- Fundrise: Tech-enabled private real estate platform offering diversified eREITs and interval funds to individual investors. Comparable democratized access to CRE for individual investors via a perpetual-life/interval fund wrapper, though with a less vertically integrated operating model.
- EquityMultiple: Online commercial real estate investment platform serving accredited investors with diversified CRE offerings. Adjacent investor base and product surface to CIRE, but focused on deal-by-deal investing rather than a single perpetual-life REIT.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CIRE Equity social profiles
Digital presenceCIRE Equity financial estimates
Financial estimateRevenue estimate
Valuation estimate
CIRE Equity leadership team
Management profileNumber of profiles
Profiles5 records
CIRE Equity funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CIRE Equity M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CIRE Equity
What does CIRE Equity do?
CIRE Equity operates CREIT (CIRE Real Estate Investment Trust), a private, non-traded, perpetual-life real estate investment trust that gives accredited investors exposure to a diversified portfolio of U.S. commercial real estate across industrial, retail, net-lease, multifamily, office, and medical properties. The firm acquires and manages these assets through a vertically integrated platform spanning asset management, property management, fund accounting, and construction management, and supports investors through direct investment and 1031/721 exchange pathways.
Is CIRE Equity a public or private company?
CIRE Equity is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was CIRE Equity founded?
CIRE Equity was founded in 2010. It employs 11 to 50 people.
Where is CIRE Equity based?
CIRE Equity is headquartered in San Diego, United States, in the North America region.
How does CIRE Equity make money?
Three revenue lines are on record. Real Estate Investment Management is the primary driver. The others are transaction Fees and performance-based Returns.
Who are CIRE Equity's main competitors?
Broad incumbents on record are Blackstone Real Estate Income Trust (BREIT), Brookfield Real Estate Income Trust (BREIT) and BlueRock Homeshield (Blackstone) / Related private REIT platforms. Direct peers are Starwood Real Estate Income Trust (SREIT), JLL Income Property Trust, KBS Real Estate Investment Trusts, Crow Holdings Capital and AEW Capital Management. Emerging players are Fundrise and EquityMultiple.
Does CIRE Equity have an API?
No public API is recorded for CIRE Equity.
What industry is CIRE Equity in?
CIRE Equity's product category is Private Real Estate Investment Trust (REIT) Management. Its primary akta.pro industry code is BPAJAMAB, Commercial Real Estate Asset Management, with a secondary code of FSAAAKAD, REITs & Listed Real Estate Securities. Its NAICS code is 525 and its SIC code is 6798.