Since 1968, Drever Capital Management (DCM) and its owner Maxwell Drever have dedicated their time and money to managing, acquiring, and developing housing projects that are cost-effective and ideal for workforce families. The commitment of DCM to build a legacy that is defined by excellence is still in place. Middle-class people believe in them because, along with providing them with an affordable house, they also offer superior amenities, increased value for investors, and an experience of more than 70 years that proves DCM is a master at such projects.
On June 1st, DCM was announced as the finalist for the Social Responsibility Award. The other two finalists were Coldwell Banker and Cushman & Wakefield. On June 20th, the National Real Estate Investor and Information Management Network (NREI/IMN) announced that DCM had won the award at the Annual Commercial Real Estate Awards ceremony.
The completion was tough, and there were many contenders, but DCM was recognized for its dedication to developing and redeveloping the land for middle-income workers and seniors. Their plan to turn properties into cost-effective and sustainable communities have transformed neighborhoods and given low-income workers the chance to find housing close to their workplace.
DCM has been impacting investing for quite some time now with a total of $20 billion, which has created more than 170,000 workforce multifamily units. Previously, they were focused on workforce housing, but now they are including senior living products that solve the affordability crisis, which is rampant nationwide.
NREI/IMN joined hands in 2016 at the Commercial Real Estate Awards and honored the achievements of several real estate organizations that have created a name for themselves in the past 12 months. The award acknowledged the motto of DCM, which is Doing Well by Doing Good. This is a testament that DCM is and will be leading the workforce housing market in the future.
Maxwell Drever, the Founder and Chairman of DCM, said, “We are thrilled to be acknowledged as a socially responsible leader in the commercial real estate world.” Drever said he was glad to be recognized as David amongst so many Goliaths in his acceptance speech. Social responsibility has built the company’s foundation, and it supports the motivations of the Drever Family Foundation and its investment.
The award will advance the Maxwell Drever Foundation to cultivate real change via entrepreneurial impact initiatives and help it set an example of how doing good can be the new trend. The payback is huge and good for business as well.
DCM is known for generating three times the bottom line returns through investments in senior and multifamily developments. Last year, DCM was applauded for its white knight act when it acquired the First National Bank Tower and took it out of bankruptcy. The 1,500,000 sq. ft., high-rise building had been vacant for the past six years.
Currently, DCM has a $270 million project in the works that will complete in 2 years. Not only will it include units for residents of Dallas but offices too. It will also have retail service, grocery stores, a spa, and wellness center, home healthcare, Montessori daycare, and more.