Risk-Reward Scenario Supports Positive Outlook for Mexican Real Estate
LaSalle Investment Management (“LaSalle”) today announced the final closing of LaSalle Mexico Fund, the first fund from LaSalle to invest in the Mexico real estate market. LaSalle Mexico Fund raised approximately USD$300 million, and with leverage will have a total potential buying power of over USD$600 million. As at this date, nearly USD$104 million has been drawn down for investment.
LaSalle Mexico Fund closed with equity commitments from a diversified group of institutional investors and has the mandate to invest opportunistically in residential, retail, industrial and office properties throughout Mexico, as well as hotels if appropriate joint venture partners are identified.
Eduardo Guemez, CEO Mexico, LaSalle Investment Management: “Mexico offers attractive opportunities and risk-adjusted returns in the real estate market. The country boasts a rapidly growing middle class creating substantial demand for retail and residential spaces. And within the industrial space, demand continues to grow as exports shift from commodities to manufacturing.
We believe there are long-term real estate investment opportunities in Mexico, and our team is well positioned with a thorough and disciplined approach to finding and assessing such opportunities. Our active joint venture pipeline with leading Mexican developers and operators coupled with the success the company has experienced in Mexico acting on behalf of separate account clients mean we expect to continue seeing strong performance to the benefit of our investors.”
###
About LaSalle Mexico Fund
LaSalle Mexico Fund was launched in 2007 and is an opportunistic fund with over USD$600 million in buying power, including leverage, investing across Mexico. The Fund will seek to acquire, reposition, develop and redevelop assets. The Fund will invest in residential, retail, industrial, office and hotel properties across throughout Mexico.
