Real Estate
Home›Real Estate›Industry›CIM Group appoints PIMCO executive Adam Lerer to expan…
CIM Group appoints PIMCO executive Adam Lerer to expand real estate investing
Lerer joins CIM’s real estate equity team, where he will source and close deals across core, value-add, net lease, impact, and Opportunity Zones strategies.
CIM Group has hired Adam Lerer, a commercial real estate executive, as managing director of investments, Commercial Observer reported. Lerer is based in Los Angeles and brings nearly 20 years of experience in the sector.
In his new role, Lerer will help develop CIM’s real estate equity investments by sourcing, structuring, and closing new opportunities across multiple strategies, including core, value-add, net lease, impact, and Opportunity Zones, according to the report.
Commercial Observer said Lerer joins CIM from PIMCO Prime Real Estate, where he served as head of the special situations group and head of acquisitions. At PIMCO, the report notes he spent nearly seven years and led debt restructuring and alternative solutions for a $14 billion loan portfolio spread across the U.S.
The outlet added that at PIMCO Prime Real Estate he led acquisitions activity in North America for a business with $100 billion in assets under management, covering residential, industrial, office, life sciences, and retail assets. Before PIMCO, Lerer held roles at Decron Properties, Norges Bank Investment Management, and Goldman Sachs’ Urban Investment Group.