LaSalle Investment Management (‘LaSalle’) has acquired a total of seven retail centres in Bavaria, Germany for its LaSalle German Income and Growth Fund (LGIG).  All assets are new developments and have been leased on a long-term basis to national retailers, including REWE, Edeka, Lidl and Rossmann.  The investment volume amounts to approximately €30 million. The vendor is ISARKIES Wohn-und Gewerbegrund GmbH & Co KG and financing has been provided by DG HYP Deutsche Genossenschafts-Hypothekenbank AG.

The LaSalle German Income fund Growth Fund is a closed property fund investing in German commercial properties. Its total volume amounts to approximately €1 billion.

David A. Ironside, International Director and Head of Acquisitions Northern Europe with LaSalle Investment Management, said; ”Germany continues to be a very interesting region for investments and retail centres in particular offer sustainable, yet profitable investment opportunities.  Our strategy is based on this belief and this new investment is fully in line with our overall strategy.”

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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.