Exhibit (a)(3)






February 15, 2007



TO:          UNIT HOLDERS OF DREXEL BURNHAM LAMBERT REAL ESTATE ASSOCIATES II

SUBJECT:     HIGHEST OFFER SO FAR TO PURCHASE UNITS


Dear Unit Holder:

As described in the enclosed Offer to Purchase and related Letters of
Transmittal (the "Offer") the Purchasers named in the attached Offer
(collectively the "Purchasers") are offering to purchase up to 7,455 Units of
limited partnership interest (the "Units") in DREXEL BURNHAM LAMBERT REAL ESTATE
ASSOCIATES II (the "Partnership") at a purchase price equal to:

                                  $301 per Unit
                                  -------------

The Offer will provide you with an opportunity to liquidate all, or a portion
of, your investment in DREXEL BURNHAM LAMBERT REAL ESTATE ASSOCIATES II without
the usual transaction costs associated with market sales or partnership transfer
fees. Reasons you may wish to sell your Units include:

     o    HIGHEST  OFFER  PRICE THUS FAR.  This offer is 13.6%  higher  than the
          Peachtree Partners' recent offer of $265 per Unit.

     o    DISTRIBUTIONS  UNLIKELY.  The General  Partner has disclosed  that "In
          light of the amounts  accrued and payable to affiliates of the General
          Partner at  September  30, 2006,  there can be no  assurance  that the
          Partnership  will  generate  sufficient  funds from  operations  after
          capital  expenditures to permit any  distributions  to its partners in
          2006 or  subsequent  periods."  See Form 10-Q for the  quarter  ending
          September 30, 2006 (emphasis added).

     o    UNCERTAINTY  OF PARTNERSHIP  TERMINATION.  Our offer provides you with
          the opportunity to receive a guaranteed amount of money in a specified
          time  period.  The general  partner has given no  indication  when the
          partnership  will be  liquidating.  Therefore,  investors  may not see
          liquidity for some time.

     o    ILLIQUIDITY OF UNITS. The relative  illiquidity of the Units resulting
          from the absence of a formal trading market makes the Units  difficult
          to sell.

     o    NO FUTURE IRS FILING REQUIREMENTS. The tax year in which you sell your
          Units will be the final year for which you will be obligated to file a
          K-1 for the  Partnership  with your tax return.  This may  represent a
          reduction in costs  associated  with filing  complicated  tax returns.
          Your  decision to sell may have other  favorable  or  unfavorable  tax
          consequences and potential sellers should consult their individual tax
          advisers.

After carefully reading the enclosed Offer, if you elect to tender your Units,
mail (using the enclosed pre-addressed, postage paid envelope) or fax (then
mail) a duly completed and executed copy of the Letter of Transmittal (printed
on purple paper) and change of address forms, and any other documents required
by the Letter of Transmittal, to the Depositary for the Offer at:

                         MacKenzie Patterson Fuller, LP
                               1640 School Street
                            Moraga, California 94556
                            Facsimile: (925) 631-9119

If you have any questions or need assistance, please call the Depository at
800-854-8357.

This Offer expires (unless extended) March 22, 2007.