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 opportunities in the Sun Belt region with an emphasis on Texas. Initially targeting a $50 million capital raise, Blue Drake increased the target to $70 million due to early investor interest. The company’s Med Strategy Realty Fund I closed out in 2022.
Fund II will seek acquisition and development opportunities for medical office buildings (MOB’s), outpatient facilities such as surgery centers and imaging centers, veterinary hospitals and dental clinics as well as build-to-suit developments within these property types. High quality tenants that fill these facilities are further driving market growth and investor interest according to Robert Hoodis of Blue Drake who stated “As we have seen during the last two recessions, consumers continue to prioritize their healthcare needs over other types of spending.”
