Blue Water Development, a premier real estate investment and outdoor hospitality management company, recently named Carl Kruelle as Chief Investment Officer. As the first CIO in Blue Water’s 19-year history, Kruelle will be based out of Blue Water’s corporate office in Ocean City, Md.
A graduate of the University of Delaware, Kruelle possesses over 20 years of experience in real estate investing, financing, asset management and capital raising. Prior to joining Blue Water, Carl was President of PEG Capital Partners, Chief Investment Officer of Roch Capital, Chief Lending Officer/Chief Credit Officer of Applied Bank, and President & Founder of Broad Creek Capital. While these positions have provided him with broad knowledge of all asset classes of real estate, his consistent focus on hospitality assets throughout his career made him the perfect fit for Blue Water.
In his new role at the company, Kruelle will manage all aspects of Blue Water’s investments. This will not only involve continuously assessing and analyzing the performance of the 21 properties that the company currently owns or manages (plus 7 RV resorts and 4 hotels under development), but also supporting its strategic growth in the outdoor hospitality sector as a whole – with a particular focus on its rapid geographic expansion.