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DRA Exceeds Target with $2.3B Value-Add Fund

New York City-based DRA Advisors has raised $2.28 billion in its latest flagship fund series, DRA Growth & Income Fund XI, exceeding its original target. The single largest fund DRA has raised in its 38-year history, DRA XI will focus on value-add real estate investments throughout the U.S.

DRA XI attracted more than 60 investors from North America, Europe and Asia-Pacific, with more than 80% of the fund’s commitments coming from DRA’s existing investor base. The fund has already deployed approximately 15% of its capital into 10 separate investments in industrial, retail and multifamily assets.

“We are fortunate to have a supportive investor base that continues to believe in our team, our strategy and our ability to deploy capital,” said David Luski, DRA’s president and co-founder.

Added CIO Matt Shore, “We have a three-year acquisition period, and during this period we expect to see many compelling opportunities to capitalize on distressed situations and motivated sellers.”

Pictured: DRA Advisors’ Midtown Manhattan headquarters.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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