Greystar Equity Partners Europe I holds €1.5b final close

Greystar Europe Investment Management, a subsidiary of Greystar Real Estate Partners, has completed the final closing of Greystar Equity Partners Europe I (GEPE I).

The fund raised €1.55 billion ($1.58 billion) of equity commitments from a diverse group of global institutional investors across Europe, Asia-Pacific and North America, including both existing and new relationships to Greystar. EPE I had an original fundraising target of €1 billion ($1.02 billion).

GEPE I is a discretionary, close-ended, Pan-European, value-add fund focused on rental residential real estate. The vehicle will focus on the acquisition and select development of purpose-designed, thoughtfully amenitized rental apartments, student housing and young professional accommodations, capitalizing on the significant opportunities created by urbanization trends in major European cities.

Less than a year into its investment period, GEPE I already has committed more than €770 million ($786 mi