Greenfield raises $120m for property fund

Greenfield Partners is in the market raising equity for its latest real estate investment fund, Greenfield Acquisition Partners VII, and has raised $119.7 million in equity commitments, according to a filing with the SEC.

The value-added fund has a $750 million fundraising goal. It will focus on acquiring and redeveloping assets, particularly in the office, industrial and student housing sectors.

The fund is a follow-up to Greenfield Acquisition Partners VI, a debt, value-add and opportunistic vehicle. The fund closed in 2013 but a total equity raise was not disclosed. Greenfield Acquisition Partners V closed in 2007 with $1 billion in equity.

Greenfield was founded in 1997 by Eugene Gorab, who was a partner and