LaSalle Completes $1.3 Billion of Transactions Across the Americas in the Third Quarter 2016

CHICAGO (November 15, 2016) – LaSalle Investment Management (“LaSalle”) today announced it has completed $1.3 billion of cumulative transactions across the Americas for the third quarter ended September 30, 2016. Year-to-date, LaSalle has completed a total of $2.1 billion of total transactions in the Americas, compared to $1.6 billion in this region for the prior year period.

Third Quarter Transaction Activity

During the third quarter, LaSalle closed on the acquisition of 13 assets for $900 million. These acquisitions are consistent with investment strategy themes as well as market and asset-level screens developed by LaSalle’s Research and Strategy team. LaSalle continues to invest in properties that will benefit from DTU (Demographics, Technology and Urbanization) driven secular changes in the economy and real estate market.

Disclosable acquisitions for the third quarter include:

The Battery on Blake Street and TwentyOne 01
Market: Denver, CO
Asset Type: Multifamily
Size: 390 units

Rosecrans Avenue Terminal
Market: Los Angeles, CA
Asset Type: Industrial
Size: 26,000 sf

Silverstone Marketplace
Market: Phoenix, AZ
Asset Type Retail
Size: 78,000 sf

The Dylan Point Loma
Market: San Diego, CA
Asset Type: Multifamily
Size: 180 units

The Residences at Buckhead
Market: Atlanta, GA
Asset Type: Multifamily
Size: 370 units

The Reserve at Woodinville*
Market: Seattle, WA
Asset Type: Industrial
Size: 206,000 sf

One Thomas Circle
Market: Washington, DC
Asset Type: Office
Size: 230,000 sf

Pinole Point
Market: San Francisco, CA
Asset Type: Industrial
Size: 477,000 sf

The Penfield
Market: Minneapolis, MN
Asset Type: Multifamily
Size: 254 units

Timberland Town Center
Portland, OR
Asset Type: Retail
Size: 92,000 sf

Kierland Village Center
Market: Phoenix, AZ
Asset Type: Retail
Size: 118,000 sf

* Development land

Also during the third quarter, LaSalle sold $400 million of assets. These dispositions were largely concentrated in markets and across asset types where LaSalle believes pricing had reached an accretive point to secure favorable returns for its clients.  

Jason Kern, LaSalle Americas CEO, commented: “I am pleased with the overall pace and quality of our transactional activity through the third quarter. On the acquisitions front, our team was characteristically prudent in their approach, having underwritten a significantly higher number of opportunities relative to the 13 that were closed during the quarter. We will continue to heed market signals and remain selective in both our investment and sale of assets that offer compelling risk-adjusted returns for our clients.”

Derek Lopez, LaSalle Managing Director & Head of U.S. Acquisitions, said: “The team performed well in the face of uneven market conditions, driven by disparate pricing trends and competitive bid markets. By leveraging our deep industry relationships, coupled with our world-class Research, Acquisitions, Due Diligence, Asset Management, and Portfolio Management platforms, we were able to execute a wide range of acquisitions that align with our clients’ investment objectives.”

About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers with approximately $60 billion of private and public equity and private debt investments under management as of Q3 2016. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle is a wholly-owned, operationally independent sub­sidiary of Jones Lang LaSalle Inc. (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any interests in any product offered by LaSalle, or for the advisory services of LaSalle, in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made by means of a private placement memorandum.

Contact
Matt Schuler
312-897-4192
matt.schuler@lasalle.com