Commingled Real Estate Fund Law and Legal Definition

Commingled Real Estate Fund (CREF) refers to a fund created by various persons or business entities that is invested in real estate. CREF will be managed by bank trust departments or life insurance companies. In a commingled real estate fund, the fund manager pools money from multiple sources. The fund then directly purchases and manages properties with the contributed capital. Subsets of commingled funds include value-add and opportunity funds that seek out high-yield targets.