Oak Street Real Estate Capital Net Lease Property Fund hits $1.5b
The Oak Street Real Estate Capital Net Lease Property Fund, an open-end fund managed by Oak Street Real Estate Capital, is closing in on its target with $1.5 billion in capital raised, according to a filing with the SEC.
The fund, which targets single-tenant, triple-net, investment-grade leases, was initially targeting $1 billion, but has since increased that figure to $1.7 billion.
The investor base includes pension funds, endowments, wirehouses and family offices. According to a recent SEC Form D filing, 19 investors have backed the fund. Investors include several Connecticut pension funds, as well as the Teacher Retirement System of Texas and the Pennsylvania State Employees’ Retirement System.
The fund was launched in October 2018 and had raised $600 million by February 2019.