Rosemont, IL – March 27, 2023 – Venture One Real Estate and DRA Advisors have announced the closing of a Joint Venture which will include 2,771,041 SF of industrial and 84.50 acres of IOS assets. The $369 million transaction encompasses all the remaining assets within Venture One’s VK Industrial V fund.
The transaction marks the 6th partnership transaction between Venture One and DRA Advisors. The partnership plans to continue to add value within the portfolio through leasing and strategic building improvements.
The portfolio consists of 54 infill industrial, last mile and logistics properties located in the Chicago MSA, New Jersey, Long Island and Philadelphia.
The transaction was financed by Webster Bank, CIT, Wintrust and Byline Bank. Venture One was represented by CBRE’s National Partners team, led by Michael Caprile, Zach Graham, Ryan Bain, Brad Ruppel and Brian Fiumara. VK Industrial is a series of funds managed by Venture One Real Estate and Kovitz Investment Group.
Venture One Real Estate
Venture One is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.
DRA Advisors LLC is a New York-based registered investment advisor with approximately 95 employees specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA was founded in 1986, the firm has opened additional offices in Miami and San Francisco while acquiring over $38 billion of real estate. The acquisitions include 85 million square feet of industrial, 65 million square feet of office, 87 million square feet of retail and 85,000 multifamily units. As of December 31, 2022, DRA has $13.3 billion in gross assets under management. http://draadvisors.com