Timbercreek Raises €123.5M for Second Irish Real Estate Debt Fund

Canadian alternative real estate investment manager Timbercreek Capital said it has made a €123.5M final close on its second Irish real estate debt fund, Timbercreek Ireland Fund II.

Timbercreek said the closed-end fund may recycle capital during its lifetime and will seek to deploy €300M into middle-market transitional real estate loans in Ireland. Institutional investors in Fund II included the Ireland Strategic Investment Fund and the Alberta Investment Management Corporation.

Timberland said it has been investing in Ireland for over seven years and is particularly attracted to the market based on its strong economic performance and higher occupier demand than in many other global regions. The company said it believes the fund’s strategy is timely as it seeks to capitalize on opportunistic lending at reset real estate values.

Source: https://www.globenewswire.com/en/news-release/2024/11/01/2973386/0/en/Timbercreek-Capital-Announces-Final-Close-of-Second-Irish-Real-Estate-Debt-Fund-at-123-5-million.html