AUSTIN, Texas, June 1, 2022 /PRNewswire/ — Casoro Group (“Casoro”), a leading commercial real estate investment firm based in Austin, Texas, announced today that Joel Heikenfeld, Senior Vice President of Production at Northmarq Capital in Dallas, has joined the investment committee of Casoro’s Onyx Impact Fund (“Onyx” or “Fund.”) The goal of the Fund is to provide competitive real estate investment returns by partnering with minority-led and women-led sponsors, and to advance the entry of diverse talent to the commercial real estate industry.
Heikenfeld has been involved in the commercial real estate industry for over 15 years, having joined Northmarq Capital in 2018 after holding leadership positions at Aspen Heights Partners, Behringer Harvard Real Estate Investments and Corbita Maritime Investments. As SVP of Production at Northmarq he is a member of the equity capitalization expert team responsible for providing equity financing guidance for real estate transactions and portfolios across the capital stack. In previous leadership positions as Vice President of Investment at Aspen Height Partners in Austin and Vice President of Capital Markets at Behringer Harvard RE Investments in Dallas, Heikenfeld originated new GP and institutional capital relationships, structured financings, created acquisition platforms and negotiated major real estate transactions with a total capitalization exceeding $5 billion in over 20 U.S. states.
“We are thrilled to welcome Joel to the Onyx Investment Committee,” said Chirag Hathiramani, Chief Investment Officer at Casoro Group and Fund Manager of the Onyx Impact Fund. “I have long admired Joel’s wide-ranging knowledge of multifamily, retail, hospitality, office and industrial investing since our previous work together at Aspen Heights. His joining the Onyx team will help us select joint venture partnerships in value-add and opportunistic real estate investments and attract top-tier investors seeking deeply experienced management to guide their social impact investments.”
“I’m inspired by the opportunity to help Casoro and Onyx achieve their social impact mission,” said Heikenfeld. “Pioneering minority-led firms like Casoro are paving the way for other minority-led and women-led firms to raise capital and succeed in real estate, and I am looking forward to a role as part of their effort to expand diversity in our industry by making smart real estate investments.”
The Onyx Impact Fund seeks investments in commercial real estate opportunities with minority-owned sponsors, in properties benefiting from knowledge worker job growth in the Sun Belt region. A portion of the Fund’s financial returns are directed to the Casoro Group Education Fund, Casoro’s non-profit arm, in order to fund educational and career assistance programs that will help increase the participation of traditionally under-represented minorities and women in real estate.
Casoro is a 100%-minority owned real estate firm with decades of successful investing in multifamily real estate development and finance, which created the Onyx Impact Fund in 2021 to help increase the generational wealth of minorities through increased participation in the real estate industry and real estate investing.
About Casoro Group
Casoro Group is a 100% minority-owned, award-winning vertically integrated multifamily real estate investment firm. Our commitment is to provide Better Homes for Better Lives®. By taking a resident-focused approach to our multifamily communities, we improve the quality of life for our residents and increase the social impact of returns for investors. Championing the advancement of diversity, Casoro is also a Diversity in Action Signatory with The Institutional Limited Partners Association (ILPA); in addition to our work with ILPA, we have made our own strides in DEI and wealth inequality among minority youth and young adults with the launch of the Onyx Impact Fund and the Casoro Group Education Foundation in 2021, which work together to advance diversity in the commercial real estate industry. Our talented investment team has more than 100 years of combined experience in multifamily real estate acquisitions, ground-up development, and asset management. Our deep expertise in the areas that matter most to investors means we add value and capture the upside. To learn more please visit https://casorogroup.com/.
SOURCE Casoro Group