Adam Lerer is joining CIM Group as Managing Director of Investments. The appointment was reported by Commercial Observer, who first broke the news of this personnel change. Lerer brings almost two decades of experience in the commercial real estate sector and was previously with PIMCO Prime Real Estate.
In his previous role at PIMCO Prime Real Estate, headquartered in Los Angeles, Lerer led the Special Situations Group and was also responsible for acquisitions. He spent almost seven years at PIMCO, where he oversaw the restructuring of debt and alternative solutions for a $14 billion credit portfolio across the US. Concurrently, he led the company's acquisition activities in North America for PIMCO Prime Real Estate, which manages $100 billion in assets, across various asset classes including residential properties, industrial, office, life sciences, and retail.
Strengthening Investment Strategies
Jason Schreiber, Principal and Co-Head of Real Estate Equity at CIM Group, commented on the appointment. He emphasised that Adam Lerer brings immense expertise in acquisitions, asset management, debt, and special situations, which perfectly complements the diverse strategies within CIM Group's real estate business. In Schreiber's view, Lerer's experience will be valuable in further expanding the company's capabilities and pursuing new opportunities in targeted strategies and markets.
In his new role within CIM Group's Real Estate Equity team, Adam Lerer will identify, structure, and close new investment opportunities for the company's various real estate strategies. This includes Core, Value-Add, Net Lease, Impact, and Opportunity Zones across diverse property types.
Lerer's Motivation and Professional Background
Lerer himself stated that CIM Group's track record, broad range of expertise, and disciplined approach to creating value through real estate investments had attracted him to the company. He looks forward to joining a highly respected team and helping to expand CIM Group's Real Estate Equity business.
Prior to his time at PIMCO, Adam Lerer held positions at Decron Properties, Norges Bank Investment Management, and Goldman Sachs' Urban Investment Group.
