NEW YORK (December 10, 2019) – DRA Advisors LLC (“DRA”) today announced the assignment of a large shopping center portfolio to Northbrook, Ill.-based Pine Tree, LLC, effective January 1, 2020. Currently managed by Oakbrook, Ill.-based IRC Retail Centers, Inc. (“IRC”), the retail portfolio includes nearly 100 necessity-based shopping centers in the Central and Southeastern United States.
About DRA Advisors
DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations, and insurance companies. Since DRA was founded in 1986, the firm has acquired over $31 billion of real estate, including 56 million square feet of office, 75 million square feet of retail, 62 million square feet of industrial, and 72,000 multifamily units. As of September 30, 2019, DRA has over $11 billion in assets under management.
About Pine Tree
Pine Tree, LLC is a full-service real estate company specializing in retail based in Northbrook, Ill. Since its founding in 1995, Pine Tree has acquired and developed nearly 100 properties and completed over $2.4 billion in transactions. The company’s projects are located across the United States.