Blue Drake Fund to Target Texas MOB’s

Blue Drake Capital launched its second fund, Blue Drake Med Fund II, a $70 million private equity fund. Fund II focuses on healthcare real estate, targeting acquisition and development opportunities in healthcare, dental and veterinary markets, aggregating properties in the Sun Belt region with an emphasis on Texas. While initially targeting a $50 million capital raise, Blue Drake increased the fund’s target to $70 million after early investor interest. The company’s Med Strategy Realty Fund I closed out in 2022. 

Fund II will target properties ranging from medical office buildings, outpatient facilities including 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. The high-quality, established tenants that fill these facilities are further fueling market growth and investor interest. Blue Drake’s Robert Hoodis added, “As we have seen during the last two recessions, consumers continue to prioritize their healthcare needs over other types of spending.”