Blue Drake Capital recently launched its second fund, Blue Drake Med Fund II, a $70 million private equity fund. This fund focuses on healthcare real estate and aims to acquire and develop opportunities in the healthcare, dental and veterinary markets of the Sun Belt region with an emphasis on Texas. Initially targeting a $50 million capital raise, Blue Drake increased their target after receiving early investor interest. The company’s Med Strategy Realty Fund I closed out in 2022.
Fund II will pursue properties ranging from medical office buildings (MOB’s), outpatient facilities such as surgery centers, cardiac cath labs endoscopy centers imaging centers veterinary hospitals and dental clinics as well as build-to-suit developments within these property types. With high quality established tenants filling these facilities market growth has been further fueled by investor interest for this type of asset class according to Robert Hoodis who said “As we have seen during the last two recessions consumers continue to prioritize their healthcare needs over other types of spending.”
