Joint venture acquires 27 properties for $205 million

Published September 23, 2019 by Richard Foster

A joint venture involving Vienna-based commercial real estate investment firm Jera Partners LLC has purchased 27 fully leased properties for $205 million.

Jera’s joint venture partner in the acquisition is a fund managed by New York City based DRA Advisors (DRA).

The properties, which have a combined 3.3 million square feet, are located in 15 states. The sites have 14 tenants involving in warehousing, distribution centers and manufacturing.

The portfolio has a weighted average lease term of approximately 13 years with weighted average annual rent increases of approximately 2%.

Jera Partners focuses on properties that are net-leased to quality credit tenants. Its principals David Kay, Carrington Guy, and Michael Rebibo have more than 75 years of combined experience and $50 billion of real estate transactions completed.

DRA Advisors specializes in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations, and insurance companies.

Since its founding in 1986, the firm has acquired over $30 billion in assets, including 55 million square feet of office space, 75 million square feet of retail space, 57 million square feet of industrial properties and 72,000 multifamily units. As of June 30, DRA has more than $11 billion in assets under management.