Gerding Edlen Green Cities II

United States of America

Last updated 13 May 2020, by Impactyield.

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Green Cities II is the second fund for Gerding Edlen, a full service real estate investment, development and asset management firm founded in 1996. Gerding Edlen is a pioneer in sustainable development and is the leading, private sector developer of green buildings as certified by LEED standards with over 51 certified or registered projects.

The Green Cities II continues the value-added / opportunisitic real estate strategy developed in Fund I, and will focus on developing and retrofitting apartments or office in certain targeted high-growth urban markets. The fund will seek risk-adjusted returns while promoting energy, water and waste efficient green buildings.

Financial description

Gerding Edlen also believes that the market will continue to favor green or LEED Certified real estate driven by both tenant and investor demand. Currently, market demand for green buildings is already beginning to show superior market performance. Perhaps even more so than tenants, property investors are noticing the market move toward green buildings and are even demonstrating a willingness to pay a premium for such properties. In addition to increased tenant demand, owners are procuring green buildings to mitigate the many risks associated with energy-price volatility and increased state and local government regulation, as well as operating savings associated with the new environmental technologies. Gerding Edlen believes this opportunity is only strengthened by the limited supply of green apartment buildings in the marketplace. Gerding Edlen’s deep expertise in sustainable development and re-development provides a key advantage to developing, retrofitting and positioning apartment and office properties in the marketplace.

11 years

of track record


the year funded

250,000,000 USD


Asset manager

Gerding Edlen


Headquarters location:

Other funds managed by this asset manager: Gerding Edlen Green Cities I

Key performance indicators

Fund overview

Asset manager: Gerding Edlen

Product track record: Fund has 11 years of track record

Target IRR: 18%

Committed Capital: 0 USD (US Dollar)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: , ,

Inception year: 2012

Vintage year: n.a.

Target region: , , ,

Target close date: 01/11/2012

Product term: 7 yrs + 1x 1 extenstion

Assets under management: 250,000,000 USD (US Dollar)

Investment size: Min: 4,000,000; Max: 75,000,000; Avg: 25,000,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 0

Fund investments to date exited or repaid: 0

Management fee: 1.5%

Carried interest: n.a.

Hurdle rate: 9.0% and 14.0%%

GIIN Investors' Council Investment: No

Limited Partners / Investors: Targeting investors that are similar profile to those in Fund I

Limited Partner / Investor Type: Pension Funds, Other Institutional Investors




Phone number: 503 299 6000

If you wish to have your details removed from this database please email

Molly Bordonaro

Senior Vice President

Roger Krage

Senior Vice President

Impact Performance


Impact thesis

The benefit of green buildings include the protection and conservation of resources, improved air and water quality and an overall higher quality of life. Gerding Edlen exists to do one simple thing: to create vibrant, sustainable and inspiring places where people can work learn and live. Through the fund, Gerding Edlen will continue to be a leading innovator of green construction seeking new technologies and techniques to employ the
highest energy and water efficiency measures for the Fund's projects.
In selecting investments, Green Cities Fund II will apply Gerding Edlen's developed knowledge and strategic awareness which is encapsulated in a metric developed by Gerding Edlen called the "Livable Place Index". It is comprised of three primary components: Planet, which measures characteristics that relate to the impact that a building’s operations will have on energy consumption, water consumption and carbon footprint; People, which measures characteristics that relate to the livability of a building via the tenant experience; and Profit, which measures not only the financial performance of the building but also the financial impact (fiscal and job creation) for the surrounding community.

Impact Management


Financial benchmark

Term Description:


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