LONDON--(BUSINESS WIRE)--GreenOak Real Estate (“GreenOak”) announces it has completed its fundraising for the GreenOak Europe Secured Lending Fund (“The Fund”) at €600 million, well in excess of its target raise of €500 million.
The Fund provides loans of up to 75 percent Loan to Value, ranging in size between €5 million and €100 million, with the capacity to go higher. The Fund is already 60 percent deployed across 12 loans secured by 60 properties in Germany, the Netherlands and Ireland.
This news follows the closing of GreenOak’s second lending fund focusing on commercial property in the United Kingdom, the GreenOak UK Secured Lending Fund II, with £625 million raised, in July 2017. GreenOak has raised a total of $1.9 billion of discretionary capital for lending in the United Kingdom, Ireland and Mainland Europe.
Jim Blakemore, who oversees the European debt strategies at GreenOak, commented that “GreenOak has been very active across the debt lending space for transitional real estate in both the United Kingdom and Europe. Clients value our flexible approach and the speed of execution.”
Founding Partner John Carrafiell added that “the breadth of investors in the two funds demonstrates the strength of GreenOak’s global platform and European presence, and the team’s extensive lending track record, with insurance and pension fund investors originating from the UK, Continental Europe such as Germany and Switzerland, Asia, the Middle East and Australia.”
GreenOak Real Estate (“GreenOak”) is an independent, partner owned, real estate focused principal investing and lending firm that seeks to provide strategic advice and create long term value for its clients and investors.
Since 2011, GreenOak has raised in excess of $7.5 billion of discretionary equity from institutional investors for real estate lending and investment in Europe, the US and Asia, and has acquired approximately $10 billion of assets. GreenOak has offices in London, Madrid, Milan, Luxembourg, New York, Tokyo, Los Angeles and Seoul, with over 90 professionals in dedicated local teams having local knowledge, experience and extensive networks in each market.
GreenOak’s first Secured Lending Fund, GreenOak UK Secured Lending Fund I, is fully deployed, having raised £224 million in 2015.