DRA Advisors, the New York-based real estate investment adviser, has announced a final close for DRA Growth & Income Fund XI (DRA XI), its latest flagship offering, after raising $2.28 billion of committed capital.
DRA XI is seeking to invest in value-add real estate opportunities in retail, office, industrial, multifamily and life sciences sectors in the continental United States.
To date, DRA XI has deployed roughly 15 percent of its capital toward 10 separate investments in industrial, retail and multifamily assets.
Matt Shore, chief investment officer, DRA Advisors, said, “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.”
Notably, with more than 60 investors in DRA XI, from America, Europe and Asia Pacific, more than 80 percent of the capital commitments came from DRA Advisors’ existing investor base.
“We are fo