The Columbus Blue Jackets are excited to partner with First Merchants Bank to recognize small businesses in our community. Each month throughout the season, one company will be featured as the CBJ Small Business of the Month presented by First Merchants Bank. This month's CBJ Small Business of the Month is CREC Real Estate Capital; to enter your small business, click here.
You may not have heard of CREC Real Estate Capital, but that might change at some point.
Founded in 2001 by Jeffrey Coopersmith, the growing private equity real estate firm was created with a focus on investors. Now into its third decade of serving a rapidly growing Columbus market, CREC Real Estate Capital has close to $1.2 billion in real estate assets and aims to work with passion, discipline and experience to get the job done.
While the company is in the business of commercial real estate, its focus is more specifically on residential buildings – in particular, buying apartment communities with between 100 and 300 units and investing in the future of the properties.
“What we’re looking to do is buy older properties, typically ‘70s, ‘80s, ‘90s or even 2000s vintage and work to bring the community up to today’s standards to meet the expectations of today’s renters,” said Levi Williamson, Director of Business Development for CREC Real Estate. “We’re significantly improving the property, whether that’s countertops, paint, flooring, or appliances in the apartment units. We’re also improving the community amenities, like upgrading a pool or updating a workout facility. It’s those kinds of things that are meaningful to our residents.”
While CREC Real Estate is active in 20 states, Central Ohio and the Midwest in many ways feel like home. Coopersmith is a longtime investor and entrepreneur in the area, and the company employs around 30 people in its Columbus office.
It’s no secret that the Central Ohio area is experiencing tremendous growth, and the best is yet to come. As many top employers around the country focus on the Columbus area, the workforce keeps growing and CREC Real Estate is there to fill a need for those looking for housing.
“You look at the incredible growth that we’ve seen with respect to Intel, Meta, Google, even Honda and their battery plant, you can see exactly what is happening with respect to the Columbus marketplace,” Williamson said. “There are some trends that are very, very intriguing about Columbus, and I it’s important for us to have a foothold here in the community providing a product that we can feel confident about.”
Members of the CREC Real Estate team were welcomed to Nationwide Arena for the Oct. 14 game against the New York Rangers. For someone like Williamson, who has two sons that play the sport, seeing the growth of hockey mirror that of CREC Real Estate – and seeing the two come together earlier this month – has a special meaning.
“You’ve seen an explosion at the youth level for engagement throughout, whether it’s the Blue Jackets or the various hockey programs around here,” Williamson said. “There is a love for hockey that is discernible here in Columbus, and a lot of that is because of having an NHL team here locally.”
