Drake Real Estate Partners Analysis
What is Drake Real Estate Partners?
Value-add real estate investor in under-the-radar U.S. markets
Employees
11-50
Founded
2012
Product Features & Capabilities
- Invests in multifamily
- industrial
- office
- value-add real estate
- secondary markets
- sustainable investing
- conservation
- environmental sustainability
- below replacement cost
- off-market opportunities
- cash flowing assets
- solid fundamentals
- Non-major markets
- best-in-class operating partners
- experienced real estate professionals
Use Cases
Repurpose aging multifamily buildings to increase rental yields; Lease underutilized industrial spaces to generate stable income; Improve office building operations to reduce operating costs; Identify off-market opportunities in non-major U.S. markets; Invest in sustainable projects with environmental sustainability focus; Acquire cash-flowing assets with solid fundamentals; Partner with best-in-class operating partners for long-term value
Investment Focus
Drake Real Estate Partners primarily focuses on real estate investments across various property types and geographies within the United States. Their investment strategy emphasizes long-term partnerships and targets value-add and opportunistic returns. This indicates a preference for investments that can enhance property value through improvements or repositioning, as well as opportunities that may arise in the market.
Assets Under Management
$410 million
Investment Geography
Drake Real Estate Partners primarily invests in various geographical regions within the United States.
Notable Exits
Drake Real Estate Partners has made several notable exits, including:
- 2277 Pine View Way, Petaluma, California - Sold for $25.15 million to an affiliate of DRA Advisors.
- 1405 & 1473 Zeager Road, Elizabethtown, Pennsylvania - Sold to Cabot Properties, Inc. on May 13, 2021.
- 301 Grove Road, West Deptford, New Jersey - Another notable exit, although specific details about the sale price and buyer were not provided.
- Seven-building light industrial portfolio in Southern New Jersey - Details about this exit were also mentioned, but specific figures were not disclosed.
Recent Fundraising
$50M
Management Team
The management team of Drake Real Estate Partners includes the following individuals and their positions:
- David Cotterman - Co-Founder & Chief Investment Officer
- Nicolas Ibanez - Co-Founder & President
- Jonathan Garonce - Partner & Head of Asset Management
- Arash Barati - Vice President
- Anthony Galvan - Vice President
- Maxwell Hengeveld - Vice President
- Michael Dornbusch - Vice President
- Alex Friedman - Senior Associate
- Victor Bittar - Senior Analyst
- Antonio Succar - Portfolio Data Associate
- Amy Pruzan - Head of Investor Relations
- Jose Lievano - Vice President
- Miguel Garcia - Senior Analyst
- Mitch Melfi - Chief Financial Officer
- Michael Sirignano - Controller & Director of Finance
- Jason Buono - Assistant Controller
- Jillian Bloch - Vice President
- Natalia Ramos - Office Manager
- Tom Franco - Advisor
- Jiho Lee - Advisor
This diverse team is united by their passion for excellence and extensive experience in real estate investment and management.
Other Considerations
Completed over $2.5 billion in transactions; Invests in non-major U.S. markets; Focuses on below replacement cost; Targets off-market opportunities; Strong emphasis on sustainable investing and conservation; Operates with experienced real estate professionals; Partners with best-in-class operating partners; Based in New York City; Founded in 2012; Employee count: 11-50
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