DRA Advisors, a New York City-based real estate investment firm, has successfully raised $2.28 billion for its latest flagship fund series, DRA Growth & Income Fund XI. This surpasses the original target and marks the largest fund in DRA’s 38-year history. The focus of DRA XI will be on value-add real estate investments across the United States.
Investors from North America, Europe and Asia-Pacific were drawn to DRA XI with over 60 participating in this round of funding. Impressively, more than 80% of commitments came from existing investors within the company’s network. Currently, approximately 15% of capital has been allocated to ten separate investments in industrial properties as well as retail and multifamily assets.
President and co-founder David Luski expressed gratitude for their supportive investor base stating that they continue to have faith in their team’s abilities and strategy when it comes to deploying capital effectively.
Chief Investment Officer Matt Shore added that with a three-year acquisition period ahead there is great potential for seizing opportunities presented by distressed situations or motivated sellers.
The headquarters pictured above is located at Midtown Manhattan where operations are based out of.
