OCTOBER 22, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

DRA Advisors holds $450m first close

by Andrea Waitrovich

DRA Growth & Income Fund VIII, a value-added fund managed by DRA Advisors, has held a $446.5 million first close, according to a filing with the SEC.

DRA Growth & Income Fund VIII launched in May 2013 with a $1.35 fundraising goal. The vehicle invests in big-box retail, CBD office, community shopping centers, industrial, mixed-use, multifamily, power center retail, suburban office and warehouse properties in the United States. Recent investors include Texas Education Agency, which made a $75 million commitment in July 2013, and Ann Arbor (Mich.) Employees’ Retirement System, which made an $8.5 million investment in September 2013.

DRA's seventh value-added fund closed in 2011 with $1 billion, exceeding its $850 million equity target. The firm is currently investing its capital. I

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy