Chicago (January 6, 2025) – LaSalle Investment Management (LaSalle) announced today the acquisition of Tempe Commerce Park, a five-building industrial complex totaling 536,122 square feet in Tempe, Arizona. The acquisition was made on behalf of LaSalle Property Fund (LPF), the firm’s US core open-ended fund.

The property, situated on 36.79 acres, features 24-foot clear heights, dock-high and grade-level doors, and ample parking. The complex is 92% leased to eight diverse tenants, including McKesson, Genuine Cable Group and Rivian. Located at 7340-7360 South Kyrene Road and 7333-7343 South Hardy Drive, Tempe Commerce Park benefits from its position in one of Metro Phoenix’s most sought-after submarkets, offering excellent accessibility to major transportation routes.

Jim Garvey, President and Portfolio Manager, LaSalle Property Fund said: “This acquisition aligns with our strategy to increase the Fund’s industrial allocation in high-growth metropolitan markets. Tempe Commerce Park is an excellent addition to our portfolio, offering exposure to a prime infill submarket.”

Matt Bogovich, Vice President of Transactions added: “We’re excited to acquire this high-quality industrial complex in Tempe, a key submarket within Metro Phoenix. The property’s strategic location, diverse tenant mix, and recent improvements position it well to capitalize on the area’s strong industrial fundamentals and continued growth.”

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. 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.

For more information, please visit www.lasalle.com, and LinkedIn.

Chicago (December 11, 2024) – LaSalle Investment Management (LaSalle) is pleased to announce it has been named a Best Place to Work in Money Management for 2024 by Pensions & Investments. This marks the ninth consecutive year LaSalle has received this prestigious recognition.

Presented by Pensions & Investments, the global news source of money management and institutional investing, the 13^th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.

“Earning the ‘Best Place to Work’ recognition for the ninth time highlights what drives LaSalle’s success: our people and culture. This culture, shaped by every employee, fuels our client service, investment performance, and talent development. We’re proud that our commitment to an inspiring workplace continues to be recognized. Thank you to our employees for making LaSalle not just a great place to work, but a leader in investment management,” said Brad Gries, LaSalle Head of Americas.

“As their employees attest, the companies named to this year’s Best Places to Work list demonstrate a commitment to building and maintaining a strong workplace culture,’’ said P&I Editor-in-Chief Julie Tatge. “In doing so, they’re helping their employees, clients and their businesses succeed.’’  

“Pensions & Investments is proud to honor the Best Places to Work in Money Management for the 13^th year. A strong workplace culture that supports talent, advocates progress and drives innovation is paramount to driving the best outcomes and these asset managers demonstrate that. Congratulations to the 2024 honorees for their commitment to employee well-being, attractive incentive structures and talent development that demonstrate how investing in your employees can elevate our industry to greater heights,” said P&I President and Publisher Nikki Pirrello.

Pensions & Investments partnered with Workforce Research Group, a research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees.

The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 20% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 80% of the total evaluation. The combined scores determined the top companies. 

For a complete list of the 2024 Pensions & Investments’ Best Places to Work in Money Management winners and profiles of the top firms across size categories, go to http://www.pionline.com/BPTW2024

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About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. 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.

For more information, please visit www.lasalle.com, and LinkedIn.

About Pensions & Investments

Pensions & Investments, owned by Crain Communications Inc., is the 51-year-old global news source of money management and institutional investing. P&I is written for executives at defined benefit and defined contribution retirement plans, endowments, foundations, and sovereign wealth funds, as well as those at investment management and other investment-related firms. Pensions & Investments provides timely and incisive coverage of events affecting the money management and retirement businesses. Visit us at www.pionline.com.

Chicago (December 4, 2024) – US and Canadian real estate is on the verge of a new cycle in 2025, with interest rates down from peak levels and economic growth concerns fading, but also new risks on the horizon, according to the North America chapter of the ISA Outlook 2025 report published by global real estate investment manager LaSalle Investment Management (“LaSalle”).

The landscape for US and Canadian real estate has shifted since last year’s ISA Outlook 2024, which saw lower transaction volumes due to higher interest rates and challenging macroeconomic conditions.  LaSalle sees considerable differences between this upcoming cycle and prior ones across both countries. Specifically, interest rates are expected to remain higher, which will lead to a more moderate pace of value recovery. And while the pace of capital flows to real estate is expected to pick-up in 2025, conditions across real estate sectors and markets will remain uneven.

These differences suggest that investing into the coming real estate cycle will not be a simple story of a “rising tide lifts all boats”; selectivity at the sector, market and sub-market level is likely to add value. LaSalle’s ISA Outlook 2025 follows several main themes that will influence real estate decision-making within the US and Canada, as well as sector by sector analysis of different property types:

• Economic Outlook – Falling Rates but Risks on the Horizon: While the summer and fall of 2024 saw growing optimism among real estate investors, uncertainty around long-term interest rates rose in the fourth quarter of 2024.  Long bond rates have moved higher, even as the Fed started cutting interest rates and Canada’s central bank has become more aggressive in lowering its policy rate. The recent volatility is a reminder that the goldilocks environment has not returned. Pandemic-era reverberations continue as we adjust to a new normal that includes at least the fear of higher inflation.

• Capital Markets – Best Market Entry Points Tend to be Early Cycle: Historically, the best entry points for investors tend to come early in the cycle, and the ISA Outlook predicts that 2025 will be the best year for entry into appraisal-based funds, and second best to 2024 for entry at market pricing. However, the research cautions that unless interest rates fall back to the low levels of the post-GFC period, pricing will not likely enable returns similar to those seen in the early years of previous cycles. Despite expectations for a strong vintage year, the ISA forecasts that transaction volume will grow slowly throughout 2025, as many sellers will delay sales expecting better values and fundamentals for 2026.

• Balancing a Portfolio – Real Estate Debt: LaSalle’s ISA Outlook 2025 notes that investors need to weigh the potential upside from allocating to equity vs. the downside protection in a debt position. While today this analysis tends to favor equity, there are still strong reasons for investors to allocate to debt. First, interest rates remain high relative to historic levels, which is a benefit to investors seeking high absolute current cash returns from debt investment. Second, there are structural tailwinds to private real estate debt investment as banks dial back direct mortgage activity in favor of providing cross-collateralized ‘back leverage’ to debt portfolios. Finally, debt is a good source of portfolio diversification as volatility remains elevated.

• Distress – The Capital Stack Hangover: LaSalle’s North America chapter of the ISA Outlook indicates that some market segments and assets will remain stressed under any realistic outlook for economic growth and interest rates. Challenged capital stacks will not be cured by lower rates, and the “pretend and extend” approach to distressed assets will eventually require resolution. Distress in the US office sector is rising fast, with US residential and retail seeing some limited distress. In Canada, the number of distressed commercial properties in 2024 is expected to double from 2023 levels, though on a dollar volume basis this is a small fraction of US levels.

Global and North American Property Sector Outlooks

The North America chapter of the ISA forms part of LaSalle’s Global ISA Outlook 2025, which analyzes real estate trends across geographies and sectors, and similarly finds the new cycle extends to global real estate markets.

• Apartments –In 2025, US apartments will still be dealing with the hangover from a supply boom that followed spiking rents, low cap rates and soaring values in 2021 and 2022. While there are significant market level differences, the ISA 2025’s national view is the hangover will not clear until 2026, while 2025 will be another year to muddle through. In Canada, apartment fundamentals remain strong due to migration-related demand drivers.

• Industrial – Industrial performance in 2025 is likely to be favorable in both countries, largely because the supply hangover is already ending, leaving fundamentals better positioned. Secular tailwinds are expected to continue, with e-commerce remaining a demand driver and policies boosting domestic manufacturing a growing benefit.

• Retail – Globally, the retail outlook continues to improve after an extended period as the least-favored sector. Across the US and Canada, retail construction is expected to remain very low, making existing supply more attractive, especially for the best centers in growing markets and sub-markets. Rent growth remains moderate as tenants’ ability to bear higher rents is constrained, but entry yields in some retail sub-segments are expected to provide an attractive investment opportunity. 

• Office – Office continues to generate headlines and remains the most discussed sector. Remote working is expected to continue to negatively impact office demand in both countries, but economic growth will eventually outweigh that negative factor. Across North America, the investability of the office sector is increasing and the focus continues to be on quality.

Richard Kleinman, LaSalle’s Americas Head of Research and Strategy, said: “We are on the cusp of a new real estate cycle both globally and in the Americas specifically. That said, navigating the current environment will require selectivity at the sector, market, and submarket levels. The ISA Outlook 2025 research we’ve released today looks in depth at what is driving trends in North American real estate, and lays out our strategy for the year ahead.”

Chris Langstaff, Head of Research and Strategy for Canada at LaSalle, commented: “Our outlook for Canadian real estate next year resembles many of our global projections, with some important distinctions. Optimism is a bit more contained as economic performance has lagged and there’s been uncertainty around trade policies, but favourable demographics, healthy fundamentals in most sectors and forecasts for improved GDP and job growth in 2025 and 2026 will continue to drive opportunities across markets, including in specialty sectors.”

Brian Klinksiek, Global Head of Research and Strategy at LaSalle, added: “Global real estate sentiment is gradually improving following a long period of negativity and signs are pointing to the beginning of a new real estate cycle. History has shown that investing early in a cycle tends to lead to relatively strong performance. There are still risks on the horizon, however, and investors are advised to focus on diversified strategies that are flexible and broad enough to adapt to a complex and evolving relative value landscape. A comprehensive look at value across a wide range of sectors and markets will be required to build a well-positioned real estate portfolio.”

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About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. 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.

For more information, please visit www.lasalle.com, and LinkedIn.

NOTE: This information discussed above 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 to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Chicago (November 18, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce the appointment of Tara McCann as Head of Americas Investor and Consultant Relations, effective November 4. In this role, Tara leads LaSalle’s efforts to strengthen relationships with existing institutional investors, enhance consultant relationships and expand the firm’s network across the Americas.

Tara’s appointment reinforces LaSalle’s commitment to continually strengthen its investor relations capabilities as well as to diversify product offerings and broaden distribution channels in the Americas to drive long-term growth. Based in New York, she reports to Samer Honein, Global Head of Investor Relations. Tara will assume the responsibilities of Adam Caskey, Head of Americas Investor Relations, who is set to retire in December this year.

Tara is a real estate industry veteran with over 25 years of experience in senior roles across investor relations, product development, acquisitions, and investment banking. She joins LaSalle from Rockwood, where she served as Head of Capital and Client Strategies, while also spearheading the firm’s ESG initiatives. Prior to that, Tara was a Managing Director with USAA Real Estate Company, serving as the product specialist for opportunistic and credit strategies. She has also held senior roles at H/2 Capital Partners, Ranieri Real Estate Partners and the Deutsche Bank Securities’ Real Estate Investment Banking Group.

Tara received a Master of Business Administration in Finance from Columbia Business School and a Bachelor of Arts in Economics and Urban Studies from Brown University.

Samer Honein, Global Head of Investor Relations at LaSalle, added: “Tara’s experience in investor relations, product development and strategic insights across the real estate industry make her an ideal addition to the team. We look forward to her leadership of our Americas investor relations efforts, reinforcing our commitment to deliver world-class partnerships to our clients.”

Brad Gries, Head of Americas at LaSalle, commented: “Tara’s appointment is a key step in our strategy to enhance our coverage and product offerings in the Americas. Her deep industry knowledge and established relationships will be instrumental as we continue to deliver innovative solutions to meet the evolving needs of our investors in the region.”

Tara McCann, Head of Americas Investor and Consultant Relations at LaSalle said:  “I am excited to join a firm with LaSalle’s values and global platform at this exciting time of growth. I look forward to expanding our relationships and continuing LaSalle’s legacy of delivering innovative solutions that meet the evolving needs in real estate investment of our partners.”

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About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. 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.

For more information, please visit www.lasalle.com, and LinkedIn.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announced today the acquisition of Buckeye85, a core industrial building located in the heart of metro Phoenix’s Interstate 10 Corridor. The acquisition was made on behalf of LaSalle Property Fund (LPF), the firm’s US core open-ended fund.

The 321,892 square foot Class A building was constructed in 2023 and is fully leased to Tempur-Pedic, a leading manufacturer of mattresses and pillows and a part of Tempur Sealy International, Inc. (NYSE: TPX). It’s situated on 20 acres at 10333 West Buckeye Road, at the southwest corner of 103rd Avenue and Buckeye Road/MC-85 Highway in Phoenix, Arizona. The property is strategically located two miles from a full-diamond interchange at I-10 and 107th Avenue, positioning it within a world-class e-commerce market that is home to companies like Amazon, McKesson, Pepsico, Kroger and Home Depot.

Jim Garvey, President and Portfolio Manager, LaSalle Property Fund said: “We are pleased to add Buckeye85 to our portfolio. Our conviction in well-located, Class A industrial assets remains strong, and we believe this acquisition will continue to support the strong relative performance of the fund.”

Matt Bogovich, Vice President of Transactions, added: “We are pleased to have acquired such a high-quality industrial asset in Phoenix. Buckeye85 stands out given its new construction, modern features, and prime location. This transaction is consistent with LPF’s objective to increase exposure to industrial properties, especially in locations with favorable supply and demand dynamics.”

LaSalle Property Fund invests in and manages a portfolio of diversified high-quality core real estate assets in major markets across the US in the industrial, multifamily, office, retail and niche sectors. Since its inception in 2010, LaSalle Property Fund has focused on creating and managing a portfolio with an emphasis on property types with strong growth potential and lesser risk of disruption from secular changes. The Fund’s assets are diversified across major and niche property sectors in major American markets, aiming to provide reliable returns.

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. 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. For more information please visit http://www.lasalle.com, and LinkedIn.

NOTE: This information discussed above 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 to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

CHICAGO (September 17, 2024) – Elena Alschuler, LaSalle’s Americas Head of Sustainability has been recognized with the Nareit 2024 Sustainable Leadership Award on behalf of JLL Income Property Trust.   

Nareit presented the inaugural Sustainability Impact Awards at its REITworks: 2024 Sustainability & Social Responsibility Conference in McLean, VA. The awards recognize REITs for implementing sustainable practices that demonstrate leadership, ingenuity, and environmental impact in the commercial real estate industry.

Elena was recognized for her leadership in sustainability in the built environment, and her collaboration with industry peers to share knowledge and develop best practices.  This is exemplified in Elena’s recent role as chair for the CRREM North America Working Group which is working to develop decarbonization pathways to benchmark transition risk.

Nareit Senior Vice President of Environmental Stewardship & Sustainability, Jessica Long said: “We are excited to highlight Elena and JLL Income Property Trust who are raising the bar for advancing sustainability practices in their operations, buildings, communities, and across the broader REIT and commercial real estate industry.”

LaSalle Global Head of Climate and Carbon, Julie Manning said: “This award is a well-deserved recognition of Elena’s exceptional contributions to sustainable real estate practices. Her innovative strategies and tireless efforts have not only elevated LaSalle’s program but are also working to set new benchmarks for the entire industry. Elena’s work exemplifies our commitment to exploring sustainable solutions that can drive investment performance.”

JLL Income Property Trust, President and CEO, Allan Swaringen said: “At JLL Income Property Trust, we believe sustainability initiatives can drive value and mitigate risk. We integrate these sustainability principles in our portfolio construction, acquisitions and asset management activities, resulting in a tailored approach to each property in our portfolio. Elena has been at the forefront of driving these efforts, and this recognition by Nareit is a testament to her commitment.”

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About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. 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.

For more information, please visit www.lasalle.com, and LinkedIn.

About JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX)
JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About Nareit

Nareit serves as the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. Nareit’s focus is to broaden and deepen REIT ownership to help a growing set of everyday American investors enjoy the benefits of holding real estate in a well-diversified portfolio, while increasing capital sources that invest in America’s future. Nareit is the exclusive registered trademark of the National Association of Real Estate Investment Trusts, Inc.^®, 1875 I St., NW, Suite 500, Washington, DC 20006-5413. Follow us on REIT.com. Copyright^© 2024 by Nareit^®. All rights reserved.