Drake Real Estate Partners Achieves $515 Million Fund V Closing Success
Drake Real Estate Partners Achieves Major Fundraising Milestone
In a significant feat for the real estate investment sector, Drake Real Estate Partners recently announced the successful closing of its fifth flagship fund, DREP Fund V. With commitments exceeding $515 million, this marks a remarkable achievement as it surpasses the initial target of $500 million, even amid challenging market conditions.
Founded in 2012, Drake Real Estate Partners has established itself as a key player in the real estate investment landscape, focusing on value-add strategies that highlight often overlooked opportunities in less saturated markets. This latest fund reflects both the firm’s long-standing relationships and its expansion strategy across the U.S., Latin America, Europe, and Asia.
Co-founder and President Nicolas Ibanez expressed excitement over the successful raise, attributing it to the firm’s strong connections with investors and its evolving investor base, primarily composed of U.S. institutional capital in this round. “Exceeding our $500 million target not only showcases the confidence that investors have in Drake but also positions us advantageously as we deploy capital in a highly dislocated market,” he stated.
Challenges of Fundraising in Today's Environment
The fundraising journey for DREP Fund V spanned a year and a half, necessitating a focused approach to engage existing and potential investors. Ibanez described it as a
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