The investments are managed by the General Partner, typically an asset-specific entity established for the single purpose of executing the project and managed by Drake Principals.
The Drake/Aegis family of companies has received national recognition for the redevelopment of the Hercules (California) Historic District, in which the entire residential community built by the Hercules Powder Company in the late 19th century was completely restored, placed on the U.S. National Register of Historic Places, and sold to individual homeowners. That project was at the forefront of the new urbanism movement in the U.S. Other historic projects included the Caldwell building in San Francisco (the second property designated as historic by the city of San Francisco and the Heritage Foundation), and the 3700 block of row homes in San Francisco's Upper Market district. Retail projects include the 110,000 s.f. Prunedale Shopping Center in Salinas, California and the Davies Centers at Benicia, California. The Drake/Aegis team took these from raw ground through design, construction, and lease-out. In Denver, Colorado the company purchased and rehabilitated the 60,000 sf. Wadsworth professional offices building and over two hundred housing units in three other properties.
For the past several years, the General Partner has focused exclusively on financially and operationally troubled multifamily properties located in strong demographic areas. Typically, the assets are underperforming due to poor cost controls, lack of liquidity or operational mismanagement. Given the recent tightening of credit and weakness in for sale housing demand in many markets attractive opportunities are available now for acquisition. The company intends to continue its concentration on opportunistic multifamily and select office sector opportunities.
“At George Smith Partners I arranged financing for Drake’s Lake View East and Valley Village projects. Drake executed remarkably well on their Lake View East acquisition and reposition, and as a result of their hard work I was able to secure permanent financing at attractive rates for them and their investors.”
The Drake/Aegis family of companies has distinguished themselves as developers and investment advisors of both historic and contemporary properties. Listed below are 1) the Investment Portfolio of properties in which Drake has participated as the developer and an owner and 2) the Fee and Advisory Portfolio of properties where Drake or Drake principal’s role was in a fee development or advisory capacity rather than an owner.
Peter F. Supino is the managing principal and founder of the Drake/Aegis family of companies. He is responsible for the strategic vision and overall direction of the firm. Supino has owned and managed income property in California since 1974, building a solid portfolio of over 50 real estate development projects in the Western States. He specializes in the acquisition, renovation, and management of income producing real estate. Mr. Supino was awarded the Pacific Builders’ Conference “Best in the West” designation and Citations for Merit by the Board of Supervisors of Contra Costa County, CA
His specialty is acquiring under-managed properties, renovating and repositioning them for superior cash flow and long term capital gains. Supino has also completed numerous historical restorations.
Supino holds both a B.A. and M.B.A. in Business Administration from Harvard University, Cambridge, Massachusetts. After graduate work, he helped establish Harvard’s INCAE Central Americas School of Business, sponsored by U.S.A.I.D. and was consultant to the Central Bank of Nicaragua in development of low cost housing.
Mary Burnett Supino joined Drake in 1995, representing the acquisition, planning, development, and merchandising of real property investments. She is responsible for planning and executing capital improvements and instituting property management controls to reposition properties, normalize their operations and bring rents to market rate.
Prior to joining Drake, Supino acquired over 20 years of experience in management and technology, including positions as Vice-President of Application Development for Bank of America and Senior Project Manager at Charles Schwab. She also founded Aegis Business Systems, Inc., a financial applications consulting company, and consulted directly with clients such as Wells Fargo and General Motors.
Supino holds a B.A. in Psychology from Carleton University, Canada.