BGO, a Miami-based real estate investment management advisor, real estate lending advisor and provider of real estate services, has closed its third Europe Secured Lending Fund with a total of €1.38bn in commitments, surpassing its €1.35bn target.
The Europe fund complements BGO’s UK secured lending strategy, which raised £1.43bn for its third fund in 2023. BGO and its predecessor firms have collectively raised more than $7bn over the past decade of debt strategy closes.
In a statement, Jim Blakemore, Managing Partner, Global and European Head of Debt at BGO, said: “We believe that BGO’s Europe and UK Secured Lending strategies align to clear investor demand and the opportunity to take advantage of the continuing alternative credit market for commercial real estate today.”
BGO’s predecessor firm, GreenOak Real Estate, created its European debt strategy over 10 years ago and has since established eight discretionary debt funds and invested over $6.5bn in commercial real estate loans in Europe and the UK. The strategy focuses on mid-market senior and whole loans typically between €25m and €300m, providing direct lending across a range of real estate asset classes including logistics, multi-family residential, hospitality, retail and office.
Recent deals include loan facilities of approximately £100m and €200m, for a life science development in Cambridge, UK and a build-to-rent residential platform strategy for various cities in Spain, respectively.
