Managing Director, Real Estate Income Fund

About Cresset Real Estate Partners

Cresset Real Estate Partners (CREP) is a private equity Real Estate fund manager based in Chicago.  CREP is the Real Estate investment division of Cresset, a rapidly growing $33 Billion wealth manager, with 350 team members in 18 offices throughout the US.  CREP currently manages five development oriented Real Estate funds with a portfolio comprising over $5 Billion in core Real Estate assets.  CREP’s funds are typically raised through Cresset’s network of US and foreign based high net worth family offices and institutions.  CREP currently employs more than 20 Real Estate professionals in all areas of Real Estate fund management, including acquisitions, portfolio and asset management, financial analysis, accounting, risk compliance, fund administration, marketing, legal and business development.

Managing Director-Real Estate Income Fund will be responsible for designing and executing the strategy for CREP’s new $400 million Real Estate Income investment vehicle.  The Fund will acquire existing institutional quality assets in primary US growth markets, generating both income and long term capital appreciation for the investors.  It is anticipated that multi-family properties will make up a majority of the Fund, with a variety of other asset classes invested in when attractive assets with qualifying returns are available.  The Fund may also invest in preferred equity, GP interests and other high-yield equity structures on a case by case basis.

Key responsibilities of the Managing Director-Real Estate Income Fund, may include:

• Primary responsibility for creating an institutional quality income portfolio, including the sourcing, negotiation, and investment of qualifying income producing Real Estate.  Managing Director will be a member of CREP’s senior leadership team reporting directly to the Executive Managing Director, and is responsible for implementing the fund’s investment strategy.
• Portfolio management: Interfacing with CREP’s asset management team to ensure that the Fund’s assets perform in accordance with projections.
• Investment analysis: Conducting due diligence and analysis on potential Real Estate investments, including financial modeling, market analysis, and risk assessment.
• Strategy development: Developing investment strategies for Fund assets that maximize returns on Real Estate investments while minimizing risk.
• Reporting: Preparing regular reports on the performance of Real Estate investments, including financial statements, investor updates, and market analyses.
• Investor relations: Interfacing with marketing, business development and investor relations staff to ensure accuracy and frequency of investor communications, update performance information, quarterly reports, and answer investor inquiries.
• Legal compliance: Interface with legal and risk compliance staff, ensuring that all Real Estate investments comply with relevant laws and regulations.

Qualifications for a Real Estate Income Manager may include:

• Bachelor's degree or MBA in finance, Real Estate, business administration, or a related field.
• 10-15 years of experience in Real Estate acquisitions and investment management, with a focus on the successful acquisition and operation of institutional quality Real Estate assets including multi-family, industrial, office and retail assets.
• Strong analytical skills, with experience in financial modeling and risk assessment.
• Excellent communication skills, with the ability to communicate effectively with investors, colleagues, and other stakeholders.
• Experience in and a detailed knowledge of structuring equity joint ventures, debt financings, partnership agreements, management agreements and relevant documents for the acquisition of institutional quality Real Estate
• Knowledge of relevant laws and regulations governing Real Estate investments.
• Proficiency in Microsoft Excel, financial analysis software, and other relevant tools.
• Professional certification such as a Chartered Financial Analyst (CFA), Real Estate Finance and Investments (REFI), or Certified Commercial Investment Member (CCIM) is a plus.

What We Offer:

Cresset offers a competitive compensation package including a discretionary bonus program and a benefits package to all full-time employees including medical, dental, vision, life insurance, 401(k) retirement plan, health savings accounts, short and long-term disability insurance, voluntary critical and accident insurance, and pre-tax parking and transportation programs.  Aligning employee and organizational interests, all employees receive equity in Cresset. 

Equal Employment Opportunity

It is the policy of Cresset to ensure equal employment opportunity (EEO) for all employees and applicants for employment without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, or related conditions), national origin or ancestry, age, disability, veteran status, uniformed servicemember status, sexual orientation, gender identity, status as a parent, genetic information (including testing and characteristics), or any other characteristic protected by applicable federal, state, or local law. It is Cresset’s policy to comply with applicable laws concerning the employment of persons with disabilities, including reasonable accommodation for applicants and employees with disabilities