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Drapac sells down US funds, targets city venture

People & Companies / Latest News

United States of America

Nov 10 2017

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Simon Johanson, The Sydney Morning Herald

Father and son property players Michael and Sebastian Drapac have begun to sell down the once-distressed assets in their US funds as they reposition themselves for another American property venture.

Veteran Australian fund manager and developer Michael Drapac took a long-term, counter-cyclical bet on the US housing market in 2012 when he began buying distressed housing developments and other property assets which were used to seed several private syndicate funds.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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