Greenberg Gibbons has launched its second private equity real estate fund, targeting $300 million in retail shopping center acquisitions across the East Coast.
The firm also announced the fund’s first acquisition of Wakefield Commons, a 163,975-square-foot neighborhood shopping center located in Raleigh, North Carolina. Wakefield Commons, which is being acquired for $33 million through a joint venture with Boston-based firm Wilder, features retail tenants including Starbucks, Burn Boot Camp, Moe’s Southwest Grill, AT&T, MyEyeDr., Spectrum Paint, and Marquee Cinemas.
“With this second fund, we’re expanding that strategy—deploying capital into high-quality assets across the East Coast, where we can apply our integrated approach to drive performance, create value, and continue delivering strong outcomes for our investors,” said Eric Walter, president of Greenberg Gibbons.
The Greenberg Gibbons Real Estate Income Fund II will target retail-driven shopping centers, including grocery-anchored community, neighborhood, and power centers. Investors in the fund include a mix of high-net-worth individuals, family offices, and institutional partners, as well as capital commitments from Greenberg Gibbons.
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