GreenOak Real Estate raises $1.55bn

The New York-based asset manager has oversubscribed its third real estate fund.

GreenOak has announced the final close for its GreenOak US III at $1.55 billion, surpassing its $1 billion fundraising target.

Through value-add repositioning strategies, GreenOak US III will pursue investments in underperforming properties in sub-markets within the US gateway cities.

Park Madison Partners served as the placement agent for the fundraise.