Banner Oak Capital Partners, with investment from the Teacher Retirement System of Texas, closed on two new funds totaling $800M to invest in real estate platforms and assets with a particular eye to student housing, medical office, data centers and manufactured housing.
Banner Oak Operating Company Fund is being called “programmatic equity capital,” meaning the money will go toward companies and teams that invest in real estate (typically as general partner co-investment capital), not toward specific properties.
President Geoff Osborn said his company will finance experienced real estate companies looking to expand their platforms. The company already has investments in multifamily, industrial, senior housing and retail, so it is looking for teams with track records in other asset classes with the potential to grow their businesses to a national scale, whether through acquisitions or development. Banner Oak invests as an active partner and takes part in underwriting and forming business plans, Osborn said. The Dallas-based company is looking for opportunities nationwide.