DECEMBER 20, 2013

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DRA Advisors raises $774 million for value-add fund

by Reg Coldfelter

DRA Advisors has raised $774.3 million for DRA Growth & Income Fund VIII, according to a filing with the SEC. The value-add fund launched in May and is already more than halfway to its $1.35 billion fundraising goal.

The capital raised will be used to invest in office, retail, multifamily and industrial properties across the United States and to increase property income through operational improvements.

Institutional investors in the fund include the Pennsylvania Public School Employees’ Retirement System, the North Carolina Retirement System and the

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