Omni Holding Company LLC, (Omni) completed the acquisition of the operating business and all assets of City Real Estate Advisors, Inc. (CREA) from City Financial Corporation on June 28, 2016. City Real Estate Advisors, Inc. has become CREA, LLC and is now a subsidiary of Omni Holding Company, LLC.
CREA will continue to be headquartered in Indianapolis and will operate as an autonomous business managed by the current CREA senior management team. Jeffrey Whiting will continue as President and CEO. It is expected that all existing employees of CREA will remain with the company. CREA’s senior management will be on the CREA Board of Directors along with representatives from the ownership entity.
“As we’ve gotten to know CREA, we are excited they are joining the Omni organization,” said Eugene Schneur, Managing Director of Omni Holding Company LLC. “We recognize the industry expertise that CREA brings to its clients and we look forward to working with them to reach their full potential in the affordable housing sector.”
“I’m pleased that we are part of Omni,” said Whiting. “As we move forward with Omni, we will continue to serve our investors and developers with the resources of our new parent company. We are enthusiastic about this next chapter in CREA’s story and look forward to the opportunities that will be provided with Omni.”
In its 15 years in business, CREA has grown from 1 employee to 81. Headquartered in Indianapolis, the company also has offices in Austin, Boston, Portland, San Diego and St. Petersburg. As one of the leading syndicators in the industry, CREA raised $700 million in investor equity for affordable housing developments in 2015, and has raised over $3.2 billion since inception
