LaSalle E-REGI Fund acquires office building at 25 Rue de Clichy in Paris
PARIS (December 18, 2017) — LaSalle has acquired an office building for its LaSalle E-REGI fund. The property is located on the 25 rue de Clichy in the 9th arrondissement of Paris. This is the fifth acquisition so far for the fund in 2017 and will increase its gross asset value to €625 million.
25 Clichy is a landmark office property of 4,656m2 and is fully occupied by the Belgian chemical company Solvay. Built in the 19th century, the building is exceptionally well-placed at the edge of the Central Business District, within the new Paris "Tech Cluster" and a few minutes walk from the Gare Saint-Lazare transport hub (5 metro lines, suburban and regional connections via RER and TER services).
This HQ-style building offers high-end features and amenities which are rarely found in one property of this size : a 650 m2 private garden with patio, an auditorium with 110 seats, a staff restaurant and cafeteria and a private 78-unit car park.
LaSalle E-REGI fund is an open-ended pan-European real estate fund, launched by the specialist investment company LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH (“LaSalle KVG”), which is 100% owned by LaSalle GmbH, and has attracted investment from a number of major institutional investors. It aims for stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI) which has been developed by LaSalle since 1999, and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL`s Global Real Estate Transparency Index and the minimum market size.
Uwe Rempis, Fund Manager at LaSalle Investment Management, said: “This acquisition will be the second that the fund has made in France to date and will provide a greater level of diversification for the portfolio with a very core office building. The asset is excellently located at the edge of Paris’ CBD and is a highly attractive office building.”
Karim Habra, Head of Continental Europe at LaSalle Investment Management, said: “This acquisition fits well with LaSalle’s ability to source core high quality assets with upside potential whilst remaining rigorous on the location. Alongside the acquisition of Infinite in Paris CBD, earlier this year, this project underlines the ability of our team in France to find prestigious properties in prime central locations.”
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.