CREC
CREC Real Estate, LLC is a Columbus, Ohio-based private equity real estate manager focused on value-add multifamily acquisitions in secondary U.S. markets, raising capital from institutions, family offices, and accredited investors through closed-end funds and private placements.
- Company typePrivate
- Founded2001
- HeadquartersColumbus, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What CREC does
CREC Real Estate, LLC is a private equity real estate investment management firm founded in 2001 by Jeff Coopersmith and headquartered in Columbus, Ohio. The firm focuses on value-add and core-plus multifamily acquisitions in secondary U.S. markets characterized by job and population growth, sourcing capital through closed-end private equity funds (CREC Real Estate Fund I L.P. and CREC Real Estate Fund II L.P., which closed at $80 million in March 2022) and direct private placement vehicles. CREC manages $800 million of real estate as of December 1, 2024, across 59 investments in 19 states and over 40 markets, delivering a 17.50% weighted average IRR and 1.94x weighted average MOIC on realized transactions since 2005.
The firm operates a vertically integrated model: securities are distributed through Core Financial LLC, an SEC-registered broker-dealer (FINRA/SIPC member); investment management is performed by Core Investment Advisors LLC, an SEC exempt reporting adviser; and property operations are handled by Fourth Street Residential, CREC's wholly owned property management affiliate. The Juniper Square platform supports investor onboarding, capital calls, and reporting. The investment process follows a five-stage model (Identify, Structure, Acquire, Improve, Monetize) centered on conservative capital stacks and value-add renovation programs that drive NOI growth prior to exit. CREC targets institutional investors (pension funds, endowments, foundations), family offices, and high net worth accredited investors, with Seth Porter and Mary Heidorn serving as primary investor-relationship contacts.
In February 2025 the firm announced an ownership change, signaling a potential transition event. Leadership includes founder/Chairman Jeff Coopersmith, President Aaron Dixon (promoted December 2020 from COO), Chief Legal Officer Christopher Montgomery, Managing Director of Capital Markets Seth Porter, and Chief Compliance Officer Tom Sarko. Recent senior hires (Bryan Henderson as Director of Asset Management in August 2024) and ongoing acquisitions indicate the firm is rebuilding its acquisition pipeline after a multi-year period in which CREC was a net seller of over $840 million of real estate across 13 properties.
CREC firmographics
Firmographics- Name
- CREC
- Legal name
- CREC Real Estate, LLC
- Website
- https://crecrealestate.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- CREC Real Estate, LLC is a Columbus, Ohio-based private equity real estate manager focused on value-add multifamily acquisitions in secondary U.S. markets, raising capital from institutions, family offices, and accredited investors through closed-end funds and private placements.
- Ownership category
- akta.pro rank
CREC industry classification
Industry- Product category
- Real Estate Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282)
- akta.pro primary industry
- Commercial Real Estate Asset Management (BPAJAMAB)
Keywords
Where CREC is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
CREC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Asset Management & Performance Fees: CREC generates returns through value-add multifamily real estate investments, delivering cash flow distributions to investors throughout the hold period and capital appreciation at disposition. As sponsor, CREC earns management fees, promote/carry, and transaction fees aligned with investor returns.
- Realized Investment Returns to Investors: Track record shows CREC distributing realized proceeds to investors upon property sales. Total investor distributions of $397,961,184 on $205,085,811 of CREC capital contribution across realized transactions since 2005.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
CREC product offering
Product offeringCore offering
CREC is a boutique private equity real estate investment manager that raises capital from institutions, family offices, and accredited investors through private fund offerings and private placement memorandums, then invests in value-add multifamily apartment acquisitions and select ground-up development in secondary U.S. markets. The firm manages two flagship funds (CREC Real Estate Fund I L.P. and CREC Real Estate Fund II L.P.), supplements them with direct property-level investment vehicles, and operates portfolio assets through its wholly-owned property management affiliate, Fourth Street Residential.
Product overview
CREC is a private equity real estate investment management firm offering a structured portfolio of investment products. The firm operates two closed-end private equity real estate funds (Fund I and Fund II) targeting value-add multifamily acquisitions, supplemented by direct private investment vehicles for individual property investments. Fourth Street Residential serves as the property management affiliate handling portfolio operations. The investor experience is supported by the Juniper Square investor portal for reporting, document access, and capital call management. Securities are distributed through affiliated broker-dealer Core Financial LLC (FINRA/SIPC member) with investment advisory services through Core Investment Advisors LLC.
Differentiator
Problem solved
Functional benefit
Products and services
- CREC Real Estate Fund I L.P. CREC's first private equity real estate fund focused on value-add multifamily acquisitions in secondary U.S. markets, with multiple realized exits including Orchard Meadows, Columbia Pointe, and Los Portales.
- CREC Real Estate Fund II L.P. Second private equity real estate fund closed with $80 million in investor commitments in March 2022, focused on value-add multifamily properties in dynamic secondary markets including Tucson AZ, Atlanta GA, Cincinnati OH, Hilton Head SC, Charlotte NC, Seattle WA, and Phoenix AZ.
- Direct Private Investment Vehicles Individual property-level private investment vehicles managed by CREC that offer direct investment opportunities in specific multifamily assets alongside institutional and private clients, with minimum investment thresholds set per offering.
- Fourth Street Residential (Property Management Affiliate) CREC's wholly-owned property management affiliate managing day-to-day operations, tenant relations, leasing, maintenance, and value-add renovation programs across CREC's multifamily portfolio nationwide.
- Investment Advisory Services (Core Investment Advisors LLC) SEC exempt reporting adviser providing investment management to fund offerings sponsored by CREC Real Estate, LLC, operating in conjunction with affiliated Core Financial LLC.
- Investor Portal (via Juniper Square) Online investor portal at investors.corerecap.com providing access to investment offerings, tax documents, performance reports, property reports, capital call notices, and financial statements, accessible via computer or mobile device.
Quantifiable outcome
- 17.5% weighted average IRR on realized transactions since 2005
- +4 more outcomes
Companies that use CREC
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
CREC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
CREC partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- BKE Capital LLCcoreBKE Capital LLC is a vertically integrated multifamily company headquartered in Plano, Texas. Allied Property Management, BKE's affiliated property management company, manages in excess of 5,000 units in the Dallas-Fort Worth metroplex. Joint venture with CREC on Prairie Court Apartments (123-unit) in Grand Prairie, TX.
- Westland InvestorscoreWestland Investors, based in Portland, OR, is a leading multifamily operator and developer with over 40 years of focus in the US Pacific Northwest. Jointly acquired Terra Verde Apartments (73-unit) in Everett, WA with CREC in December 2021. Westland/its affiliate Centro Management provides property management.
- McDowell PropertiesminorMcDowell Properties is a leading multifamily company that specializes in acquiring, repositioning, and asset managing apartment projects across the country. Partnered with CREC on Somerset at the Crossings Apartments (264-unit) in Tucker, GA (Atlanta metro).
- Sterling GroupminorSterling Group, an Indiana-based real estate company, partnered with CREC on the acquisition of Icon Avondale (374-unit) in Decatur, GA, marking CREC's 50th real estate investment.
- PM Realty Group (PMRG)corePMRG is a national real estate developer that partnered with CREC to form a joint venture for the development of Hidden Springs, a 200-unit senior living community in McKinney, Texas. PMRG served as development and operating partner on the senior housing project.
- Rincon Capital PartnerscoreRincon Capital Partners is a Phoenix-based vertically integrated real estate investment firm with acquisition offices in Atlanta and Dallas. CREC and Rincon have collaborated on multiple joint ventures including acquisitions in Tucson, AZ (Los Portales/Alterra, Woodridge), Phoenix, AZ (Ascent 1829), Hilton Head/Bluffton, SC (NEXTLoft), and Charleston, SC (Planters Trace). Rincon serves as operating partner on value-add multifamily acquisitions.
- Flaherty & CollinscoreFlaherty & Collins is an accomplished developer that partnered with CREC on The Boulevard at Oakley Station, a 150-unit Class A multifamily development in Oakley, Ohio (Cincinnati suburb). Flaherty & Collins was the development partner while CREC provided capital. CREC also engaged Flaherty & Collins as property management for The Vue 180 in Newport, KY.
- Barrett & StokelyminorBarrett & Stokely served as joint venture partner on CREC's acquisition of Brockton Apartments, a 284-unit multifamily community in Indianapolis (Broad Ripple).
- Fourth Street ResidentialcoreFourth Street Residential is CREC's affiliate property management company that oversees day-to-day operations of CREC's multifamily portfolio. Led by Director of Operations Charity Jacobs. Provides property management, maintenance, and leasing services across the portfolio nationwide.
Scale indicators7 records
Recent moves8 records
Expansion highlights5 records
CREC competitors and assessment
Company assessmentDirect peers
- Waterton: Chicago-based multifamily-focused real estate investment manager executing value-add and core-plus apartment strategies in secondary and select primary U.S. markets. Closely comparable to CREC by asset class focus, fund structure, and investor base (institutions, family offices, HNW).
- Hamilton Zanze: Boutique private equity real estate firm focused exclusively on value-add multifamily investments across U.S. secondary markets. Direct comparable to CREC in strategy, asset class, geographic focus, and institutional LP/family office investor base.
- Berkshire Residential Investments: Boston-based multifamily investment manager combining fund sponsorship with vertically integrated property management. Comparable to CREC's sponsor-plus-Fourth Street Residential integrated model, with similar value-add multifamily investment focus.
- Virtus Real Estate Capital: Austin-based boutique real estate private equity firm focused on value-add multifamily investments. Closely matches CREC's fund structure, asset class concentration, and target geographies (secondary and Sunbelt markets).
- FCP Real Estate: Chevy Chase-based private equity real estate investment firm investing in multifamily and other asset classes through commingled funds and joint ventures. Comparable to CREC in fund sponsorship, value-add multifamily focus, and institutional/family office LP base.
- Mill Creek Residential: Boca Raton-based multifamily investor, developer, and operator with value-add and ground-up strategies across U.S. markets. Comparable to CREC's value-add multifamily focus, vertically integrated operating model, and JV-driven deal sourcing approach.
- Bluerock Real Estate: New York-based institutional real estate investment manager sponsoring closed-end private equity multifamily funds. Comparable to CREC's product structure (multi-fund PE series), institutional LP base, and multifamily concentration.
Broad incumbents
- Harrison Street Capital: Chicago-based alternative real estate investment manager with diversified strategies across multifamily, student housing, senior living, and more. Broader incumbent with similar institutional LP base and value-add orientation; meaningfully larger AUM than CREC.
- GTIS Partners: New York-based real estate private equity firm investing across U.S. multifamily, industrial, office, and residential strategies. Broader real estate PE incumbent with overlapping multifamily value-add activity and similar institutional LP channels.
- AEW Capital Management: Boston-based global real estate investment manager with core, value-add, and opportunistic strategies across multiple property types. Broader incumbent that competes for institutional LP capital with overlapping multifamily value-add capabilities.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
CREC social profiles
Digital presenceCREC compliance and trust
Trust signalCompliance3 records
CREC financial estimates
Financial estimateRevenue estimate
Valuation estimate
CREC leadership team
Management profileNumber of profiles
Profiles9 records
CREC subsidiaries and ownership
Company hierarchySubsidiaries1 record
CREC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CREC 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 CREC
What does CREC do?
CREC is a boutique private equity real estate investment manager that raises capital from institutions, family offices, and accredited investors through private fund offerings and private placement memorandums, then invests in value-add multifamily apartment acquisitions and select ground-up development in secondary U.S. markets. The firm manages two flagship funds (CREC Real Estate Fund I L.P. and CREC Real Estate Fund II L.P.), supplements them with direct property-level investment vehicles, and operates portfolio assets through its wholly-owned property management affiliate, Fourth Street Residential.
Is CREC a public or private company?
CREC is a private company. It is classified as management employee owned and is currently operating.
When was CREC founded?
CREC was founded in 2001. It employs 1 to 10 people.
Where is CREC based?
CREC is headquartered in Columbus, United States, in the North America region.
How does CREC make money?
Two revenue lines are on record. Asset Management & Performance Fees are the primary driver. The others are realized Investment Returns to Investors.
Who are CREC's main competitors?
Direct peers on record are Waterton, Hamilton Zanze, Berkshire Residential Investments, Virtus Real Estate Capital, FCP Real Estate, Mill Creek Residential and Bluerock Real Estate. Broad incumbents are Harrison Street Capital, GTIS Partners and AEW Capital Management.
Does CREC have an API?
No public API is recorded for CREC.
What industry is CREC in?
CREC's product category is Real Estate Investment Management. Its primary akta.pro industry code is BPAJAMAB, Commercial Real Estate Asset Management. Its NAICS code is 523940 and its SIC code is 6531.