Healthcare Infrastructure

BGO US Value-Add Lending Fund II is a real estate debt vehicle managed by BGO (BentallGreenOak), one of North America's largest and most diversified real estate investment and services firms with more than USD 90 billion in assets under management globally. The fund originates senior and mezzanine loans secured by transitional properties across the United States, targeting loan sizes between USD 20 million and USD 250 million with loan-to-value ratios of up to 85% and loan terms of one to five years. Fund II builds on the success of BGO's predecessor lending vehicle, which raised USD 361 million and established the platform's credibility as a flexible alternative lender in a market where traditional banks have meaningfully retrenched. The fund provides capital for acquisition, refinancing, redevelopment, and construction projects across commercial real estate property types including multifamily, industrial, hospitality, life sciences, and self-storage. Its structure allows BGO to offer speed, certainty, and flexibility that institutional bank lenders often cannot match. The fund has attracted commitments from leading institutional investors, including the Massachusetts Pension Reserves Investment Management Board (MassPRIM), which committed USD 100 million to Fund II, underscoring the platform's underwriting quality and risk management standards. BGO's US lending platform is led by Managing Director Abbe Franchot Borok and Managing Director Jessica Lee, experienced debt capital markets professionals with deep expertise in real estate credit. BGO (BentallGreenOak) was formed in 2019 through the combination of GreenOak Real Estate and Bentall Kennedy and is backed by Sun Life Financial as its principal institutional shareholder, providing scale, stability, and global origination capabilities across its lending strategies.

GREYKITE European Real Estate Fund I, SCSp, launched in 2024 and domiciled in Luxembourg, is a London‑based opportunistic real estate fund targeting high-conviction European markets. With cornerstone LP commitments from Capital Constellation (Wafra), Leucadia Asset Management, and later Goldman Sachs Vintage Strategies, the fund closed approximately US $324.5 M in March and raised additional equity amounting to €335 M by October, culminating in a total fund size around US $660 M. The fund’s main focus lies in scalable, operationally intensive themes including logistics/industrial, student accommodation (PBSA), single-family rental (SFR), and selected hospitality or life sciences plays, with active value creation via asset and corporate-level initiatives. In its logistics strategy, Fund I led a €300 M joint venture in Poland (seed portfolio ~€130 M, ~60% debt) and acquired a €350 M, 98%‑occupied 13‑asset logistics portfolio across Germany, France, and the UK (400 k m²), leased to blue‑chip tenants. Further diversification includes a Munich-based PBSA JV targeting ~190 beds and €250 M investment by 2026/27, and a £750 M SFR venture in the UK with Gatehouse, aiming to deploy ~£200 M by end‑2024 and acquire up to 2,500 homes.