Cobalt Real Estate Solutions names new CIO
Tim McCann has 35 years in real estate
Virginia Beach-based investment fund Cobalt Real Estate Solutions has named Tim McCann as its chief investment officer, the company announced Tuesday.
Cobalt, an affiliate of Divaris Real Estate Inc., is seeking to raise $50 million in equity to add $150 million in properties to its portfolio. and McCann will seek investment opportunities, develop investment strategy and policies, and work with equity and lending partners to grow Cobalt’s portfolio.
McCann is a 35-year veteran of the real estate industry and has worked for Broad Street Realty, Transwestern, Penrose, JP Morgan and AEW in roles including acquisitions, underwriting, mortgage origination and asset management, according to a news release.
“Tim brings tremendous competency and experience to this new role,” Gerald Divaris, chairman of Cobalt Real Estate Solutions and chairman and CEO of Divaris Real Estate, said in a statement.
Cobalt was established in 2017 and has assets in Virginia, Florida and Tennessee.