LaSalle raises $300M for its US Income & Growth Fund VII
CHICAGO (January 13, 2016) – LaSalle has secured USD$300 million of capital commitments for its Income & Growth Fund VII, the latest fund in LaSalle’s Income & Growth Fund Series. 85% of the capital was raised from institutional investors who had invested in previous Income & Growth Funds.
Income & Growth Fund VII is structured to invest in high quality properties with significant opportunities to add value across the non-core office, retail, industrial and multifamily residential market segments across the US.
LaSalle’s Income & Growth Fund Series was launched in 1996, offering investors the expertise and knowledge of LaSalle’s established property platform, and the first six funds in the series have invested USD$4.9 billion in US value-add opportunities.
Jason Kern, CEO Americas, LaSalle, commented: “We are very pleased with the support we have received from investors and the confidence they have demonstrated in our team, our track record and our strategy. We look forward to deploying the capital in investments that will meet our investors’ objectives for return and growth.”
Jim Hutchinson, Income & Growth VII Fund President, LaSalle, added: “Non-core investment opportunities continuously evolve but we have a deep understanding of the US market and our long experience in this strategy allows us to identify and add value to buildings providing capital appreciation while achieving solid income returns for the portfolio. We are grateful for the strong support from our existing investors.”