- €869 million in commitments from institutional investors, exceeding initial target
- Focused on middle-market transitional loans secured against commercial real estate
London (4 March, 2021) – BentallGreenOak, a leading global real estate investment management advisor and provider of real estate services, has today announced the successful final close of the GreenOak Europe Secured Lending Fund II (the “Fund”), with a total of €869million in commitments from institutional investors around the globe, including Europe, Japan and Korea.
“That the fund has exceeded its target of €800m demonstrates both the strong demand for this strategy and the confidence in the strength and capabilities of our European debt team”, said Jim Blakemore, Managing Partner and Head of Global Debt at BentallGreenOak. “Moreover, it underscores the value of our integrated real estate platform which benefits from equity and lending experience and enables us to source, underwrite, close and service loans, as well as asset manage direct real estate”.
This is the latest Fund in BentallGreenOak’s European lending strategy, which was launched in 2013. Over this period the team has raised in excess of USD$3.7billion, deploying more than USD$3.1billion of capital across over 100 loans.
GreenOak Europe Secured Lending II will target strong returns whilst maintaining an overarching focus on capital preservation. In the current environment, BentallGreenOak’s European Debt team sees the best risk/return opportunities in providing debt to non-core and value-add assets which are often overlooked by traditional core lenders. The Fund will focus on opportunities in Germany, the Netherlands, the Nordics, and Ireland.
Manja Stueck, Chief Operating Officer of Debt and Head of Capital Markets Europe at BentallGreenOak, said: “The closure of our second European debt fund and deployment of already close to half of the capital is testament to the market’s need for specialist, flexible lending solutions. I believe that the BentallGreenOak European Debt team has established a reputation for being professional, dependable and creative, which is the reason why we continue to see sustained interest from new and existing investors.”
To date, the Fund has made 8 investments with a total value of €382million, in the form of loans in the Netherlands and Ireland secured against office, logistics, residential and mixed-use properties.
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $53 billion USD of assets under management (as of December 31, 2020) and expertise in the asset management of office, industrial, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com
Vice President, Corporate Communications