GreenOak exceeds target for European real estate strategy

GreenOak has held a final close of its second European Fund, GreenOak Europe Fund II, totaling €656 million ($798 million) of equity commitments and exceeding its target of €500 million ($609 million).

The euro-denominated GreenOak Europe Fund II is fully discretionary and has the ability to acquire assets in Western European countries including Spain, Italy, France, Holland, United Kingdom, Germany, Portugal and Ireland.

In addition, GreenOak has invested or committed a further €185 million ($225 million) of fund LP co-investment capital and has an additional €70 million ($85 million) of committed discretionary fund LP co-investment capital to deploy into this strategy.

Fund II can acquire or develop real estate with a total cost of €2.6 billion ($3.2 billion), with leverage of up to 65 percent, and is focusing primarily on logistics, office, and residential assets, as well as land for development. To date, the fund and co-investors have committed mor