DRA Advisors is a privately held real estate investment advisor founded in 1986 by David Luski and partners. The firm manages commingled funds for institutional and private investors and pursues a conservative, value-added strategy across U.S. industrial, retail, office, multifamily, and select life-science assets. The company focuses on acquiring well-located assets at discounts to replacement cost and driving returns through operational improvements and disciplined capital markets execution. The firm is not publicly traded and has no ticker. Operationally, DRA invests through programmatic joint ventures with experienced operators and often targets multi-asset portfolios where it can create immediate scale. In 2025, DRA expanded retail exposure via two large portfolio purchases alongside DLC, and added an urban office repositioning in San Francisco’s Financial District, consistent with its opportunistic yet risk-aware approach. The portfolio today is broadly diversified across 35 states, with top market exposure by gross leasable area concentrated in Texas, California, and Florida. This tilt reflects significant industrial holdings in Texas as well as balanced office and retail positions on the West Coast and Southeast. Tenant concentration at the firmwide level is limited; DRA’s large retail acquisitions are anchored by national credit tenants (e.g., TJ Maxx, Ross, REI), and recent office assets include technology and professional services occupiers such as Waymo and Modernizing Medicine. Strategically, DRA positions itself as a U.S. value-add investor leveraging deep JV relationships, rigorous underwriting, and active asset management to generate income and capital appreciation while preserving downside through diversification and conservative financing.