EXCLUSIVE: Drake Real Estate Partners announces final close of DREP Fund IV

Drake Real Estate Partners, a real estate investment and asset manager targeting under-the-radar value-add investment opportunities, has announced the closing of its fourth flagship fund, Drake Real Estate Partners Fund IV (DREP Fund IV), with more than $410 million in commitments, exceeding its fundraising target of $350 million.

The fundraise adds significant new strategic U.S. institutional relationships to Drake’s investor mix, in addition to continuing the firm’s decade-long partnerships with prominent family offices and other institutional investors from across the globe.

The firm focuses predominantly on smaller investment sizes — typically between $5 million and $25 million of equity — in non-major U.S. markets where it has historically achieved outsized risk-adjusted returns.

“Our team specializes in accessing overlooked opportunities — whether off-market or mis-marketed investments — adding value through asset-level improvements, and exec