Drake Real Estate Exceeds $500M Target with Fifth Fund

7/15/2025

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Connect CRE

• Subcategory: Capital Markets: Fund

• Tag: Closing | New Fund

• Additional Filters-Subcategory: Capital Markets: Fund-Core Plus, Capital Markets: Fund-Opportunistic, Capital Markets: Fund-Value Added

• Company: Drake Real Estate Partners

Drake Real Estate Partners, a New York City-based real estate investment manager pursuing under-the-radar value-add opportunities, has closed its fifth flagship fund, Drake Real Estate Partners Fund V (DREP Fund V) with more than $515 million in commitments. The company said the fund exceeded its $500-million target in one of the most challenging fundraising environments in recent history.