Publications

Fundraising - JUNE 11, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Gerding Edlen has $234m final close for urban fund

by Reg Clodfelter

Portland, Ore.–based Gerding Edlen has had a $234 million final close on Gerding Edlen Green Cities II, value-add/opportunistic fund that will invest in office and apartment properties in U.S. urban markets.

The fund launched in November 2012 with a fundraising goal of between $200 million and $250 million and had its first close in January 2013. The fund’s predecessor, Green Cities I, closed in December 2011 after raising $183 million.

Green Cities II has already invested in a number of urban apartment and office properties in Boston, Chicago, San Francisco and Seattle, according to Molly Bordonaro, senior vice president with Gerding Edlen, and is seeking a net IRR in the high teens. The fund manager has co-invested an undisclosed amount into the fund.

Gerding Edlen Investment Management was founded in 2009 and has more than $750 million of assets under management. The develo

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy