LaSalle Debt & Special Situations Team record over £550M in debt investments over the past year
LONDON (March 1, 2016) – LaSalle’s Debt Investment & Special Situations team capped a strong last twelve months by transacting 5 deals on behalf of its advised funds in the fourth quarter of 2015, bringing total lending to over £550m over the past twelve months across twelve loans. The investments are secured by a diverse mix of asset types including office, retail, logistics, student housing and hotels and located in London and across the UK.
Selected notable transactions include:
- A £76 million whole loan to Apache Capital Partners against 12-24 Paul Street, a student housing asset in Shoreditch London, UK. Wells Fargo purchased a senior participation shortly after closing.
- The £103 million whole loan to finance Brockton Capital’s acquisition of 33 Horseferry Road, an office building in London, UK. A senior participation was subsequently sold to a leading insurance investor.
- A junior loan together with Wells Fargo, as senior lender, to finance Benson Elliot’s acquisition of Guildford Business Park and the Meadows Shopping Centre in Chelmsford, UK
Richard Jackson, Managing Director at Apache Capital Partners said, "LaSalle funds stand apart as a lender of choice for Apache, they are not run by faceless credit committees, their decision makers and team are closely aligned, commercial, supportive and always deliver on what they promise. More recently a LaSalle debt fund refinanced our Paul Street student asset in London for £76 million, underwriting the entire loan in 19 days. A feat that most banks would be unable to consider let alone achieve."
James Jakeman, Principal at Benson Elliot, said: "Benson Elliot is delighted to be partnering with LaSalle Funds on Project Bentley. Their commitment and support throughout the acquisition process has been further endorsed by their commercial approach to our asset management strategy. From a borrower’s perspective, these are standout features helping differentiate their offer within a competitive lending market".
Amy Aznar, Head of Debt and Special Situations at LaSalle Investment Management, said: "We are heading into 2016 building off of a great 2015 – lending to very high calibre sponsors on strong real estate, with 12 deals in 12 months. Our debt funds lent across a mixture of mezzanine and whole loans; some of the whole loans involved the syndication of a senior tranche to a senior lending partner. LaSalle’s debt funds have dynamic strategies that are flexible and relevant in today’s lending environment, providing competitive loans to our borrowers and attractive risk adjusted returns to our investors."
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $58 billion as of Q4 2017 of private and public equity and private debt investments. 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 Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
This information is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy 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. Past performance is not indicative of future results.