LaSalle Investment Management (“LaSalle”) today announced the final closing of LaSalle Canada Income & Growth Fund III (“CIG III”). CIG III raised approximately USD$230 million in committed equity, and with leverage will have a total potential buying power of more than USD$550 million.
CIG III is third in LaSalle’s successful Canadian flagship value-add fund series investing in industrial, retail, office and residential properties across Canada. The fund series operates under the management of Fund President and Canadian Managing Director Zelick Altman, with the inaugural fund now divesting and the second fund currently actively managing assets. CIG launched in 2003 and CIG II followed in 2005.
Zelick Altman, Managing Director LaSalle Canada, said: “The closing of our third income and growth fund for Canada is evidence of our continued commitment to, and confidence in, the Canadian real estate market. Our capital raise not only includes current clients who invested in one or both of our first two funds, but also includes several new investors who’ve entrusted LaSalle to deliver on our promise of a consistent product and client approach, and relatively strong investment performance despite the downturn in the overall economy.”
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About LaSalle Canada Income & Growth Fund III
LaSalle Canada Income & Growth Fund III was launched in 2009 and is third in LaSalle’s value-add fund series investing in industrial, retail, office and residential properties across Canada. With leverage, the Fund has approximately USD$550 million in buying power.
About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a leading global real estate investment manager, with approximately $40 billion of assets under management (as at Q4 2009) of private and public property equity investments. LaSalle is active across a range of real estate capital and operating markets including private and public, debt and equity and our clients include public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit www.lasalle.com.
This press release does not constitute the offer of advisory services or the offer of a security or the solicitation of an investment. Any such offer, if made, will only be made by means of a written advisory agreement or confidential private placement memorandum, respectively.
