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Intro


WE ACQUIRE REAL ESTATE THAT SOPHISTICATED INVESTORS ASPIRE TO OWN.

LONG-STANDING PARTNERSHIPS AND ENTREPRENEURIAL FERVOR DEFINES US.

INVESTOR-CENTRIC, WE strive to EXCEED THE EXPECTATIONS OF THOSE WHO ENTRUST US WITH CAPITAL.

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Intro


WE ACQUIRE REAL ESTATE THAT SOPHISTICATED INVESTORS ASPIRE TO OWN.

LONG-STANDING PARTNERSHIPS AND ENTREPRENEURIAL FERVOR DEFINES US.

INVESTOR-CENTRIC, WE strive to EXCEED THE EXPECTATIONS OF THOSE WHO ENTRUST US WITH CAPITAL.

About


 

About


 

Our astute investors prize our ability to re-envision and elevate the cash flow capabilities of an asset.

 

Drake Real Estate Partners is a real estate investment firm based in New York.  

Capitalizing on the value gap that exists in markets that receive little press, we acquire and reposition fundamentally solid, income-generating real estate. 

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Our Story


Our story

Our Story


Our story

Founded in 2012, Drake Real Estate Partners is currently raising its third fund

■  Founded by David Cotterman and Nicolas Ibanez who were introduced and mentored by Arthur Segel, a Harvard Business School professor and founder of TA Realty, a $15 billion US real estate investment firm

■  David Cotterman was previously a principal in the real estate group of MSD Capital (Michael Dell’s investment group), which has invested over $1 billion of equity in U.S. real estate

■  Nicolas Ibanez formerly headed the Real Assets Strategy for Drake Enterprises. Drake Enterprises is devoted to managing the capital that resulted from the sale of its main operating business in Chile to Wal-Mart Stores, Inc. in 2009 and 2014

■ In 2012, with Drake Enterprises as their anchor investor, started building an institutional team and infrastructure that could pursue a U.S. real estate investment strategy that has proven attractive over the long term – a value based approach in which they would buy assets at a fraction of their replacements costs, located in stable markets with limited new supply, while taking advantage of attractive long-term financing to produce strong cash flows for their investment partners

■ Drake Real Estate Partners has invested over $800 million of real estate from various investors across two investment funds, and it is now in the process of launching its third fund. It has invested across a variety of geographies and asset classes, including multifamily, industrial, office / medical office, self storage, retail, and hospitality

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Strategy


We buy Properties that lie in the path of quiet urbanization,

 buildings that lie neglected in fundamentally strong, but relatively unknown markets.

Strategy


We buy Properties that lie in the path of quiet urbanization,

 buildings that lie neglected in fundamentally strong, but relatively unknown markets.

WHEN ALL THE PIECES
COME TOGETHER,
WE MOVE WITH VIGOR.
SPEED IS A STRATEGY.

Cash flow generation is critical. Our entrepreneurial eye and our connectivity with local operating partners allows us to make something good even better.

Rather than relying on macroeconomic guesswork to drive decision making, we instead rely on resourcefulness, creativity, financial aptitude and local expertise to unlock latent value overlooked by others.  

We are also astute enough to understand that sometimes the only thing that stands in between good and great is patience.

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Philosophy


It is about generating shared value.
our investment process considers not only financial returns, but also the impact on our partners, our tenants, our communities, and our nation. 

Philosophy


It is about generating shared value.
our investment process considers not only financial returns, but also the impact on our partners, our tenants, our communities, and our nation. 

We also believe that investors should have unfettered access to the investment committee.

There are no secrets here.

Our investment platform is built on trust, ingenuity, and performance. Investors come to us because of our relationships and our commitment to fundamentally sound investment practices. Experience counts.  
 

Most importantly, we are heavily invested in every one of our properties.

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Team


our team STANDs IN SOLIDARITY WITH OUR stakeholders. EVERYONE WINS TOGETHER.

Team


our team STANDs IN SOLIDARITY WITH OUR stakeholders. EVERYONE WINS TOGETHER.

DC

DAVID COTTERMAN  

CO-FOUNDER & MANAGING PARTNER

David is responsible for the development and implementation of the platform and its investment activities, including sourcing opportunities, structuring and negotiating agreements with partners, and leading the underwriting, due diligence, and asset management processes. David is based in New York, NY.

Previously, David was a Principal in the Real Estate Group of MSD Capital (Michael Dell’s investment firm), which has invested over $1 billion in real property across a variety of asset classes. David managed all aspects of the acquisition and asset management processes, including sourcing new deals, leading the underwriting and due diligence, managing development teams, and formulating asset-specific business plans. Prior to working at MSD, he was a Development Executive at Urban Partners, a West Coast-based, mixed-use real estate development firm.

David is a member of the board of directors of LA’s BEST Friends, an after-school enrichment program for inner city schools. David graduated cum laude with a BS in Economics from the Wharton School of the University of Pennsylvania, and holds an MBA from Harvard Business School. 


NICOLAS IBANEZ

CO-FOUNDER & PRESIDENT

Nicolas is responsible for establishing, implementing, and overseeing the company’s strategic direction, as well as overseeing the underwriting, due diligence, and monitoring processes for each investment. He also supervises the relationship with operating partners and investors. Nicolas is based in New York, NY.

Previously, Nicolas formed and led the Real Assets Strategy at Drake Enterprises, an investment holding company based in Switzerland that manages in excess of $1.5 billion of financial assets and direct private investments in real estate, quick service restaurants and agribusiness. He also served as the Research Associate for Arthur Segel, a Harvard Business School Professor and founder of TA Realty.  Prior to Harvard, he was a Corporate Finance Associate at LarrainVial, an investment bank based in Santiago, Chile.

Nicolas graduated summa cum laude with a BS in Economics and Business Administration and a Masters in Finance from the Universidad Adolfo Ibañez of Chile, where he is also a member of the Visiting Committee. Nicolas also holds an MBA from Harvard Business School.


JIHO LEE

PARTNER

Jiho is responsible for the execution of the investment process, including underwriting, due diligence, closing, and asset management. Jiho is based in New York, NY.

Previously, Jiho was a member of the acquisition group of Hanover Street Capital (a platform of Deutsche Bank Commercial Real Estate Special Situations Group), which invested over $1 billion of Deutsche Bank capital in real estate debt collateralized by a variety of asset classes.

Jiho graduated with a BS in Chemistry from Massachusetts Institute of Technology (MIT) and holds a Masters in Real Estate Development from Columbia University. Jiho also serves as a faculty member at Columbia University’s Real Estate Development program.   


MITCH MELFI

CHIEF FINANCIAL OFFICER

Mitch is responsible for the oversight and execution of financial operations, including accounting, treasury, fund administration, reporting, and the implementation of best-practice processes. Mitch is based in New York, NY.

Previously, Mitch was a Vice President at Fortress Investment Group, where he played an active role in the management of a dynamic team responsible for the accounting, administration, and reporting for real estate funds totaling over $1 billion in capital commitments. Mitch began his career in public accounting as a financial services professional with KPMG LLP’s Audit Services Practice based in New York City.

Mitch graduated cum laude with a BS in Accounting from Binghamton University and is a licensed Certified Public Accountant (CPA) in the State of New York. 


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Martin pawlik

VICE PRESIDENT

Martin is responsible for the sourcing and execution of the investment process, including underwriting, due diligence, closing, and asset management. Martin is based in New York, NY.

Previously, Martin was a member of the investment team at Canyon Partners based in Los Angeles, where he played an active role in deal sourcing, underwriting, and fundraising for a platform which has invested over $6 billion of capital in real estate. Martin began his career in investment banking with J.P. Morgan based in New York City.

Martin graduated summa cum laude with a BS in Finance and a minor in Accounting and French from Washington University in St. Louis, where he was a Delta Sigma Pi Scholar (awarded to the valedictorian of the graduating class).


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JONATHAN GARONCE

DIRECTOR

Jonathan is responsible for the execution of the firm's business plans, working in close collaboration with the firm's local operating partners.

Previously, Jonathan worked at World Class Capital Group as well as Merrill Lynch's Private Equity Real Estate group, both in New York. Jonathan has over a decade of experience underwriting, executing and managing real estate investments across the capital stack, including hotel, office, industrial, and multifamily assets.

Jonathan graduated magna cum laude with a BA in Economics from McGill University, and holds an MBA from Columbia Business School. 


JOSE LIEVANO

ASSOCIATE

Jose is part of the acquisitions team, providing market research support and assisting in the financial analysis and underwriting of potential new acquisitions. Jose is based in New York, NY.

Previously, Jose was a Director of Development at Vivienda 2000, a vertically integrated development firm based in Bogota, Colombia. He managed the entitlement, development and construction of over 1,000 residential units.

Jose graduated with a BS in Chemical Engineering from Universidad de los Andes, Bogota, Colombia, and holds a Masters in Real Estate Development from Columbia University.


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Jillian Golden

SENIOR ACCOUNTANT

Jillian is responsible for various finance functions at the partnership, corporate and management company levels, including accounting, reporting, treasury and operations.

Previously, Jillian was a Senior Accountant at Vanbarton Group LLC, a property management company, where she managed the day-to-day accounting for a variety of property types as well as individual and consolidated financial statement packages. Jillian began her career in fund administration at Citi Private Equity Services, where she gained much experience servicing complex structures for a varying group of private equity clients.

Jillian graduated with a BS in Accounting from the Alfred Lerner College of Business and Economics at the University of Delaware and is a licensed Certified Public Accountant (CPA) in the State of New York.


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BRYANNA VAZQUEZ

EXECUTIVE ASSISTANT & OFFICE MANAGER

Bryanna is responsible for supporting Drake's executive team, managing the office as well as coordinating events.

Previously, Bryanna worked at Vazquez Alatriste Abogados in Cabo San Lucas, Mexico, managing communication between international parties and serving in a paralegal capacity. Bryanna also collaborated at MIT Enterprise Forum headquarters in Mexico, doing research based on project coordination and teamwork. Bryanna has multinational work experience in business plan operating, resource management, conflict resolution, logistics, and marketing.   

Bryanna graudated with a BA in International Relations from Tecnologico de Monterrey in Mexico City. 



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PEGGY DASILVA

ADVISOR

Peggy advises the team on business development, capital raising and investor relations. Peggy is based in New York.

Previously, Peggy was a Managing Director at Canyon Partners in the Marketing Group where she was responsible for raising capital for real estate funds.  Peggy also has extensive experience in acquisitions and portfolio management having worked in the real estate markets in both the US and Canada for more than 25 years.  She has held senior positions at Deutsche Bank, the Rockefeller Group and CBRE Global Investors where she invested in and managed multiple property type investments in core-plus, value-add and opportunistic strategies.

She graduated with honors from Wellesley College, with a BA in art history and holds an MBA from Columbia University.

 


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tom franco

ADVISOR

Tom is currently a Partner at Clayton, Dubilier, & Rice. He joined CD&R in 2006 after serving as a Senior Advisor to the firm for more than a decade. He is responsible for managing relationships with critical external stakeholders, leads the fundraising team and related capital access activities, as well as strategic initiatives, including global expansion at CD&R.  He serves on the board of the Private Capital Research Institute and Privcap, a digital news platform serving the private equity industry.

He is also a board member of Whittle School & Studios, a global K-12 education company, as well as a  Senior Advisor to GSV, a Silicon Valley-based merchant bank. Previously, Tom served as Chairman and Chief Executive Officer of Broadgate Consultants, which he founded in 1987. He successfully launched a global publishing business, PEI Media, and, earlier, practiced corporate law, as well as working as a Senior Vice President at Georgeson & Co., an M&A and proxy fight consultant.  Tom started his career teaching English literature at a public high school in New Hampshire and later at Jagiellonian University in Krakow, Poland where he also wrote articles for Worldview Magazine.

Tom graduated with a BA degree from the University of Notre Dame, an MA from Smith College in teaching literature, and a Juris Doctor from Fordham University.

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Investments


We invest in reliability,

the real estate you can count on year in and year out.

Investments


We invest in reliability,

the real estate you can count on year in and year out.

Drake partners with local real estate operators and developers across all geographies and asset classes.  We focus on investments that require $3 - $15 million of equity.  We seek value add / opportunistic types of returns, and we don’t have a predefined hold period.

Multifamily

Cannon Mills & The Village of Westover

Acquisition of a two-property apartment portfolio in Dover, DE—Cannon Mills (120 units) and Village of Westover (108 units), built in 1995.  Improved NOI by 40% over first three years of ownership.

Centerpointe, Highview & Willowbrooke

Acquisition of a three-property multifamily portfolio in Rochester, NY—Centerpointe (294 units), Highview Manor (314 units), and Willowbrooke Manor (160 units), built in the 1970s and 1997.  Improved NOI by 26% since 2012.

The Drake

Acquisition and repositioning of a 986-unit apartment complex in Mayfield Heights, Ohio, a growing submarket of Cleveland; across the street from a newly built Cleveland Clinic hospital, one of the top US hospitals.

 

Lakeshore

Acquisition of a 402-unit apartment complex in Cincinnati, OH; near employments centers of Blue Ash and Tri-County, as well as the University of Cincinnati. 

Kings Quarters & Kings Manor

Acquisition of a two-property, 409-unit portfolio in Kansas City, MO—King's Quarters (202 units) and King's Manor (207 units), built in 1973 and 1988. The portfolio is two miles away from the $4.45 billion Cerner Innovation Campus development site by Cerner Corporation (NASDAQ: CERN), which will bring 15,000 new employees to the area over the next ten years.

 

Barrington Place

Acquisition and reposition of a 17-story, 218-unit apartment building in downtown Louisville, KY, built in 1962. Property is within walking distance of job centers such as Humana’s headquarters, and the University of Louisville Health Sciences Center.  Property is a block away from Fourth Street Live, a recently developed entertainment and retail complex in Louisville.

 

Regency Park

Acquisition of a 304-unit apartment complex in Indianapolis, IN. The property is located in an established school district (Perry Township), near large-scale retail corridors, and within ten minutes of the Indianapolis CBD.

 

The Lakes

Acquisition and reposition of a 600-unit apartment community in North Hills, NC, a top submarket within Raleigh.

 

Stratford Trails Apartments

Acquisition of up to 186 units across 31 buildings in Glenddale Heights, IL.

Chelsea Place & Preston Gardens

Acquisition of a two-property apartment portfolio in Toledo, OH—Chelsea Place (334 units) and Preston Gardens (332 units). The properties were built between 2006 and 2008 and offer top-of-the-market amenities.

 

Arden

Acquisition and reposition of a 184-unit apartment community in North Hills, NC, a top submarket within Raleigh.

Woods at North Bend

Acquisition and reposition of a 471-unit apartment community in North Hills, NC, a top submarket within Raleigh.

 
 

Fox Chase and Perry's Crossing

Acquisition of a two-property, 600-unit, Class-A apartment portfolio in Toledo, OH.


SeNIOR HOUSING

 

Indigo Augusta

Development of an 85-unit (61 Assisted Living units, 24 Memory Care units) senior housing facility in Augusta, GA.

 

 

retail

Pinecrest Plaza

Acquisition of a 227,570 sq. ft., grocery-anchored, neighborhood center, built in 1986, in Pinehurst, NC.

 

South Congress

Acquisition and re-development of a 9,455 sq.ft. single-story retail property in the epicenter of the South Congress shopping district in Austin, TX.

Hollywood & Vine

Acquisition of a 10,823 sq. ft., ground-floor, retail condominium with premier frontage, located on the corner of Hollywood Blvd. and Vine St. in Hollywood, CA.

 

Orchard Station

Acquisition of a 265,000 sq. ft. building on 9.6 acres in Greenwood Village, CO. Orchard Station is part of a broader master plan development, which will include 300,000 sq. ft. of retail, 940,000 sq. ft. of office, 986 residential units, and a 180-key hotel. 

Southglenn Square

Acquisition of a 58,304 sq. ft., community retail center located on South University Boulevard in the Denver submarket of Centennial, CO. 

 

Office

216 West Jackson

Acquisition of a 176,622 sq. ft., 10-story, office building in Chicago, IL. The property was built in 1899 and 1903, was renovated in 1986, and is located in Chicago’s premier West Loop, one block away from Willis Tower (formerly Sears Tower).

Lee's Medical Office

Acquisition and lease up of a 71,188 sq. ft., Class-A, medical office building in Fredericksburg, VA, built in 2006/2008 and anchored by a regional hospital system and a radiology center.

16200 Ventura

Acquisition and reposition of a 1964-built, 55,000 sq. ft., office building in Encino, CA.

 

Sharp Medical Facility

Ground-up development ("build to suit") of a 100,000 sq. ft., Class-A, medical office building in Rancho Bernardo, CA. The property is being developed for Sharp Rees-Stealy, a not-for-profit, integrated, regional, health care delivery system located in San Diego.

 

NNN Office Portfolio

Acquisition of a 7-building office portfolio totaling 291,718 sq. ft. in San Antonio, TX, El Paso, TX, and Pensacola, FL.

79 Monroe

Acquisition of a 168,873 sq. ft., office/retail building in the center of "The Loop" in downtown Chicago, IL.                

 

Nashville Office

Acquisition of two office properties with a total of 135,000 sq. ft. in Nashville, Tennessee.

Sabal Pavilion

Acquisition of a 120,500 sq. ft., Class A office building in Tampa, FL.                                                                                                                                                                                                                                                           

 

900 Kearny

Acquisition of a 30,000 sq. ft., 6-story, office building with a ground floor bank tenant in San Francisco, CA.


HOSPITALITY

Cook Extended Stay Portfolio

Acquisition of a five-hotel, 583-key, extended-stay hotel portfolio in Indianapolis, IN, and Louisville, KY. Hotels were built between 2000 and 2009 and consist of three Candlewood Suites and two Suburban Extended Stay hotels.

Hampton Inn Indianapolis South

Acquisition of a 112-key, limited-service hotel on the south side of Indianapolis, IN, one of the fastest growing cities in the Midwest.

 

Industrial 

2069 Massachusetts

Acquisition of a 102,742 sq. ft., industrial building in the Inland Empire, CA, one of the strongest industrial markets within the U.S., with the option to redevelop the site over time.

 

112 Barnum

Acquisition of a 391,591 sq. ft., Class-A, industrial facility located in Devens, MA, at 82% below replacement costs. Built in 2010, the property is a state-of-the-art manufacturing facility that is currently 100% occupied by high-tech manufacturing tenants.

 

 

Mid-Atlantic Portfolio

Consolidation of a portfolio of industrial properties in New Jersey, Pennsylvania, and Delaware targeting a total acquisition of 1,500,00 SF.

5115 Azusa Canyon

Acquisition of a 65,000 sq. ft., industrial building in Baldwin Park, CA, with the option to redevelop the site over time. The property is located in a strong industrial area just east of Los Angeles.

 

Memphis Industrial

Acquisition of a NNN-leased 566,281 sq. ft. Class-A industrial property in Memphis, Tennessee.

100-212 Cascade

Acquisition of a distribution facility in Allentown, PA. The property is directly adjacent to a proposed $335 million, 1.2 million sq.ft., FedEx distribution center.         

 

Long Island Industrial

Acquisition of a 237,600 sq. ft. distribution/warehouse facility through a sale/lease-back in Holbrook, NY.

 

self storage

Duarte Storage

Ground-up development of 81,452 net rentable sq. ft. of Class-A self-storage in Duarte, CA, a middle class neighborhood just south of Pasadena.

 
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1% For The Planet


We not only invest in properties, but we also invest in our communities

We are here to make a difference.

1% For The Planet


We not only invest in properties, but we also invest in our communities

We are here to make a difference.

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1% for the planet

To further impact the local communities in which we invest, Drake has partnered with 1% for the Planet, a conservation-focused non-profit whose mission and values are consistent with those of the Drake team.

As part of this partnership, Drake donates 1% of the firm’s revenues to non profit conservation-related initiatives in the markets in which it invests.

WHO IS 1% FOR THE PLANET?

1% for the Planet was founded by Yvon Choinard and Craig Mathews in 2002 as a movement to inspire businesses to strategically support environmental solutions by giving 1% of their annual revenues to approved sustainability-oriented nonprofits.

1% for the Planet and its network of nonprofits advocate to conserve and protect our planet. Their main focus is to tackle the most critical areas of environmental impact such as: climate, food, land, pollution, water and wildlife. 

Members give directly to nonprofits of their choice and 1% for the Planet certifies this giving annually. Direct giving helps put dollars in the hands of doers quickly and efficiently with 1% for the Planet providing the expert guidance necessary to ensure it is the smartest donation possible.

WHY WE JOINED?


The global community has a responsibility and opportunity to step up for the planet and drive positive change. We see this as an opportunity for Drake to get involved with the communities in which it invests and drive a lasting positive impact. We want to hear the stories of the entrepreneurs and drivers of change in those communities as a way to learn from them, connect with the communities at a more granular level, and support them where we can. This, in turn, creates sustainable value for our investors and for our stakeholders. It also helps us become better investors.

City of Oaks foundation

Drake is also a proud contributor to the City of Oaks Foundation in Raleigh, NC, a nonprofit organization that is dedicated to the conservation of Raleigh's remaining natural lands. Through the preservation of green space in a rapidly-growing Raleigh, the City of Oaks Foundation aims to both promote healthy lifestyles and protect the city's air and water quality. 

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Yosemite Conservancy

In 2018, Drake initiated a partnership with the Yosemite Conservancy to support conservation efforts in Yosemite National Park. We are supporting the restoration of the Washburn Trail in the Mariposa Grove of Giant Sequoias. Our support for the project has helped to ensure that an important chapter of Yosemite’s history lives on, while also enabling visitors to enjoy the beauty of the Mariposa Grove year-round.

Contact


Contact


Contact

Name *
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DRAKE REAL ESTATE PARTNERS
1251 Avenue of the Americas, 34th Floor
New York, NY 10020
Telephone +1 (646) 430-6700