Discover the nuts and bolts of the DCM operation, from acquisition to distributions.
Who is Drever Capital Management?
Drever Capital Management is a family-run, vertically integrated real estate development firm specializing in workforce housing. We have a 50+ year track record of acquiring and developing multifamily and senior housing properties across the United States for both institutional and individual investors, working with our own construction and property management teams to ensure the safety of our investors' capital and to maximize timely returns in a socially and environmentally responsible manner.
What is workforce housing?
Workforce housing is quality housing for the people who need it most--nurses, teachers, fire fighters, paramedics, police officers, dental assistants, mechanics....the 80% working backbone of the population, in short. DCM believes that safe, attainable, and attractive housing is a right and not a luxury, and we strive to create communities where families and individual residents will not just live, but truly feel at home.
What kind of senior housing does Drever Capital Management acquire?
We have a two-pronged approach to senior housing:
- Active Adult Communities: Our Active Adult Living communities DO NOT PROVIDE LICENSED CARE. These communities serve healthy, active retirees in the 70+ age range. Properties include fitness facilities, pools, community and social activities, and high-grade amenities, but we do not cater via a commercial kitchen. DCM integrates offices for home healthcare services which allow our residents to age in place, and facilitate meal deliveries through local restaurants.
- Memory Care Communities: These facilities focus on the specific needs of workforce seniors who are facing the challenges of living with Alzheimer’s/dementia related conditions. We provide unique Montessori-inspired art and cognitive therapy and social programs while offering comfortable, vibrant living facilities.
Why is Drever Capital Management different than other real estate investment firms?
With a 50+ year legacy in workforce housing, Drever Capital Management is a recognized and lauded impact investor, specializing in secondary markets and value-add investments. We are unique in that we offer an institutional quality product to our individual investors, treating each one of our investors with the same care as we do institutions. We are a family run business, and we invest side-by-side on each and every project. Our mission is to use our family legacy to grow yours.
How can I invest?
Click the "Become an Investor" or "Invest Now" buttons anywhere on this website, and you will be directed to a form with which you can contact us about specific investments and request more information about our offerings. Want to speak to someone in person? No problem. Feel free to email or call our Boathouse office anytime, and someone will be happy to answer your inquiries and/or send you any information you request.
What are your investment minimums?
Drever Capital Management accepts investments from $100,000 and up from accredited investors. In addition, we also work with institutions who wish to invest on a larger scale via JV or separate account structures.
What's an accredited investor?
DCM only accepts investors that qualify as "accredited investors" as defined by the federal government. To qualify as an "accredited investor" you must be able to answer yes to one of the following: (1) Individual net worth, or joint net worth that exceeds $1 million excluding the value of your primary residence; (2) Individual income in excess of $200,000 in each of the past two years and reasonably expect to make the same in the current year or combined joint income with spouse of $300,000 in each of the past two years and reasonably expect to make the same in the current year.
Can I invest through my LLC, LP, Trust, or IRA?
Accredited investors are able to invest through an LLC, LP, Family Trust, or self-directed IRA. We can assist with several custodian options for your self-directed IRA investments.
How can I stay updated on my investment?
Drever Capital Management offers full transparency for your investment at every stage. We provide regular quarterly investment reports, distribution notices, accounting statements, and news updates. In addition, investors are able to log in to our investment portal on our website at their convenience. Our dedicated investor relations team is always available to answer any questions or concerns.
How are profits distributed to investors?
The distribution waterfall explains how income and capital gains from an investment are allocated between the investor and the Sponsor (DCM) and are always detailed in the Private Placement Memorandum. While every investment will have a different distribution waterfall, at DCM, investors can expect to receive their fully accrued preferred return and return of initial investment before DCM participates in the carried interest/profit sharing. The two important terms to consider:
- Preferred Return: The preferred return or “pref”, commonly ranges between 8-10% is not guaranteed, but accrues and compounds on an investor’s initial investment over time. The preferred return is a profit distribution preference, whereby the sponsor’s participation in the profits are subordinated until a certain return threshold is met and in addition investors have been returned their full initial investment. .
- Carried Interest: Carried interest or “promote”, is the share of the profits that the Sponsor/General Partner receives after all other requirements of the distribution waterfall have been met. The carried interest acts as a performance fee by incentivizing the Sponsor to maximize the result of an investment. The carried interest rate is commonly 20%.