Chicago-based Oak Street Real Estate Capital has plans to hold a first close for its fifth value-added fund, Oak Street Real Estate Capital Fund V, at the end of the month.
Launched in November, the fund’s investment strategy focuses on single-tenant, triple-net lease assets throughout the United States. According to a spokesperson from Oak Street Real Estate Capital, the fund targets investment-grade assets with 15-year leases, with a 12-year minimum.
The investor base is comprised of pension funds, endowments, wirehouses and family offices. In December 2019, the Illinois Municipal Retirement Fund disclosed a $75 million commitment to Oak Street Real Estate Capital Fund V in an investment board meeting document.
The fund is seeking $2 billion and plans to hold its final close on March 31.
Oak Street Real Estate Capital has set its targets hig
