LaSalle Investment Management Awarded New Mandate to Invest in Global Real Estate Securities
30 April 2014 - LaSalle Investment Management, a leading global real estate investment manager, today announced the firm has extended its investment management relationship with client Bayerische Versorgungskammer (BVK), and has been awarded $207 million to invest in Global Real Estate Securities. The mandate will be managed by the firm’s dedicated securities group, LaSalle Investment Management Securities.
BVK has invested with LaSalle since August of 2013, when it awarded the firm $693 million for global core real estate investing in direct real estate investment opportunities across all property types and selected geographies. Through investments now to be made in global real estate securities, BVK seeks further diversification and an opportunity to participate in the current positive trend in the global real estate securities markets.“We are extremely pleased to have worked with BVK to develop a program which fits their unique requirements as a German pension plan,” says Stan Kraska, Managing Director of LaSalle Investment Management Securities. “This new public securities program provides BVK another attractive method for investing in real estate around the world.” Todd Canter, Managing Director of LaSalle Investment Management Securities, adds, “Much like the underlying real estate owned by these companies, real estate stocks behave differently from traditional stocks and bonds, therefore providing real diversification within a mixed-asset portfolio. Added return without added risk, that’s the power of diversification and that’s the power of global property securities”. LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL) and advisor to Jones Lang LaSalle Income Property Trust, was recently ranked among the top 5 mid-sized companies in Pension & Investments magazine’s 25 Best Places to Work in the U.S. list for 2013. For more information about LaSalle Investment Management, please visit www.lasalle.com.