Global real estate fund manager BGO has raised €1.38bn for its latest European real estate debt fund.
BGO said the capital raised for the third Europe Secured Lending Fund at close exceeded its initial target of €1.35bn, having received capital commitments from 40 global institutional investors.
The firm’s debt strategy can cover a range of real estate sectors, including logistics, multifamily residential, hospitality, retail and office. It focuses on mid-market senior and whole loans and can provide junior debt for appropriate opportunities. Loan amounts typically range from €25m to €300m.
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.
“This fund has been raised in a challenging environment, so the fact that we exceeded our target speaks to our reputation as one of the largest and most trusted alternative lending teams in Europe.”
BGO said its recent deals included a loan facility of over £100m (€117m) for a life-science development in Cambridge, UK, and over €200m for a build-to-rent residential platform strategy in major Spanish cities.
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