T
imbercreek Capital Inc., a leading alternative real estate investment manager, has announced the final close of Timbercreek Ireland Fund II at €123.5 million (C$185 million). Backed by a global investor base including the Ireland Strategic Investment Fund and Alberta Investment Management Corporation, the closed-end fund aims to deploy over €300m (C$450m) into middle market transitional real estate loans in Ireland.

    The fund's strategy is well-timed to capitalize on opportunistic lending at reset real estate values. With a lack of supply for middle market transitional commercial and residential real estate loans, investors can expect attractive risk-adjusted returns. Timbercreek is drawn to Ireland due to its strong economic performance and occupier demand that outpaces many major regions globally.

    "We see this as a great opportunity to invest in a market with strong growth fundamentals," said Sarah Esler of Alberta Investment Management Corporation. "We're excited to partner with Timbercreek Capital on this investment, which we believe will deliver strong risk-adjusted returns for our clients."

    Timbercreek's global strategy leverages local experts to provide investors with exposure to European markets while tapping into the company's unmatched regional experience. The Dublin-based team has been actively investing in Ireland for over two decades and boasts a proven track record of success in structuring and managing debt capital solutions for real estate investors, particularly in the value-add and transitional sectors.

    The fund may recycle capital throughout its lifetime, allowing it to adapt to changing market conditions and maximize returns. With a well-diversified investor base and a strong team on the ground, Timbercreek Ireland Fund II is poised to capitalize on opportunities in the Irish real estate market.