JLL (NYSE: JLL) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2025 World’s Most Ethical Companies. For the 18th consecutive year, JLL has been honored for demonstrating exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance and governance practices.  

In 2025, 136 honorees were recognized spanning 19 countries and 44 industries. 

LaSalle is a wholly owned subsidiary of JLL and is proud to share in this achievement.

CHICAGO, SINGAPORE (Feb. 27, 2023) – LaSalle Investment Management (“LaSalle”) is pleased to announce it has earned the WELL Health-Safety Rating for 193 office and multifamily properties in North America and Asia Pacific through the International WELL Building Institute (“IWBI”), 43 properties more than last year. LaSalle increased its tally to 127 properties in the US and 66 properties and in Asia Pacific.

According to IWBI, this represents one of the largest and most diverse WELL Health-Safety rated portfolios globally. IWBI also confirmed that LaSalle received ratings on the most multifamily residential properties out of all entities that earned WELL-Health Safety certifications in 2022.

The WELL Health-Safety Rating is an evidence-based, third-party verified rating focusing on operational policies, maintenance protocols and emergency plans to promote overall occupant health and ensure emergency preparedness. To achieve the WELL Health-Safety Rating, the properties implemented or demonstrated features such as improved air and water quality management, health service resources, emergency preparedness programs, enhanced cleaning and sanitation procedures and stakeholder engagement and communication. The WELL Health-Safety Rating can instill confidence in those who come through the building as well as the broader community.

David DeVos, LaSalle Global Head of Sustainability, said: “Tenants are prioritizing healthy spaces where they feel safe, so it is critical to exemplify our commitment to safety to drive tenant demand and, ultimately, portfolio performance. Earning WELL Health-Safety Ratings across our portfolios in North America and Asia is a testament to our focus on tenant safety and ensuring we’re continuing to be at the forefront of the industry in providing the best spaces possible for tenants, no matter where they are.”

Added Jessica Cooper, Chief Product Officer, IWBI: “LaSalle is a demonstrated leader in real estate assets. Already engaged in WELL, LaSalle is showcasing continued leadership to scale the impact of health and well-being globally, achieving the WELL Health-Safety Rating across Asia and the Americas. IWBI congratulates LaSalle for continued achievement of the rating and investment in people-first places.”

The WELL Health-Safety Rating provides a centralized source and governing body to validate efforts made by owners and operators. It leverages insights drawn from the IWBI Task Force on COVID-19, in addition to guidance on the spread of COVID-19 and other respiratory infections developed by the World Health Organization, U.S. Centers for Disease Control and Prevention, global disease control and prevention centers and emergency management agencies, as well as recognized standard-making associations such as ASTM International and ASHRAE, and leading academic and research institutions, as well as core principles already established by IWBI’s WELL Building Standard, the premier framework for advancing health in buildings and spaces of all kinds.

LaSalle’s properties were awarded the WELL Health-Safety Rating following the successful completion of third-party documentation review by GBCI to confirm it has met the feature specific intents and requirements.

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 over $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. 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 https://www.lasalle.com, and LinkedIn.

LaSalle Investment Management (“LaSalle”) announced that its flagship core institutional real estate fund, LaSalle Property Fund (“LPF” or “the fund”), bolstered its life sciences portfolio with a majority interest acquisition in 3215 Merryfield Row, a Class A+ life sciences building located in the heart of the high-barrier-to-entry market of Torrey Pines in San Diego, California. LPF acquired its stake in 3215 Merryfield Row through a joint venture with a publicly traded REIT.

The investment aligns with the fund’s strategy of investing in best-in-class life sciences properties in high-conviction markets as part of its national, diversified portfolio. With the addition of a stake in 3215 Merryfield Row, life sciences and medical office properties now comprise 13 percent of LPF’s portfolio.  LPF’s life science investment includes Illumina’s world headquarters, located in the UTC submarket of San Diego, in which it acquired a partial interest in 2019.

Jim Garvey, President of LaSalle Property Fund, said: “We have high conviction in the life sciences sector given the strong tenant demand, which is a function of the continuing advancement in pharmaceuticals, medical devices and therapeutics. 3215 Merryfield Row is an exceptional property, both in its location,  and best-in-class construction, and comes with the added bonus of a leading partner who we know and trust. We’re very pleased to add 3215 Merryfield Row to LPF’s portfolio.”

Erick Paulson, LaSalle Acquisitions Officer, added: “This is a special property with a premier location, a strong credit tenant, and an outstanding operating partner for LPF. Life sciences properties continue to be in high demand due to their challenging and often expensive construction and should provide excellent cash flow and appreciation for well capitalized buyers looking to achieve long-term gains.”

Constructed in 2018 with state-of-the-art life science specs, the property is fully leased to Vertex, a global biotech company focused on small molecule therapeutics and cystic fibrosis, and serves as one of the company’s three global research hubs. Largely considered one of the most architecturally significant life science properties on the West Coast, 3215 Merryfield Row is LEED Gold Certified and includes glass interior walls, a 1,500-square-foot Learning Lab for STEM education programs, an interactive art display in the lobby, and an air circulation system that is designed to bring in 100 percent outside air.

The property also benefits from its coveted location in the sought-after Torrey Pines submarket, which has a life sciences vacancy rate of just 0.3 percent. More broadly, LaSalle Research & Strategy pegs San Diego as the nation’s third-best life sciences market. San Diego is home to more than 1,300 life science companies and is comprised of 19.8 million square feet of life science space supported by strong fundamentals, including a record low direct vacancy rate of 2.3 percent and an average triple-net asking rate that has risen 166 percent since 2015.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

Heightened geopolitical risk, persistent high inflation, and a possible recession will place European real estate under acute pressure in H2 2022. However, the asset class is expected to continue to provide longer-term stability for core investors via carefully curated portfolios, as well as offering new opportunity for investors seeking value-add returns – according to the mid-year 2022 edition of the Investment Strategy Annual (“ISA”), the report published by global real estate investment manager LaSalle Investment Management (“LaSalle”).

Europe is facing a macroeconomic environment rendered fragile by supply chain issues, a hot war on the region’s periphery and a squeeze on consumers’ disposable incomes. As a result, LaSalle expects real estate investors to adopt a much more cautious approach in the second half of 2022. However, while inflationary pressures have surged, and interest rates have increased earlier and more quickly than expected, real estate assets can act as a hedge against inflation in cases where landlords have pricing power. Fundamentally, this will manifest for investors with the best assets in the right locations, where supply-demand imbalances underpin rental growth.

Furthermore, in an uncertain environment, investors seeking higher returns can expect to benefit from dislocation and opportunities to repurpose assets. Off-market or value-add opportunities could potentially offset the effect of rising operating expenses, construction costs and interest rates, either through building-specific renovation or repositioning to achieve occupancy improvement or rental uplift. 

Long-term resilience will be underpinned by careful stock selection. Although European real estate markets have been impacted by global headwinds, pockets of opportunity persist for investors across each sector.  

Retail rebound postponed

In retail, the post-Covid recovery has been shaken by the impact of inflation on consumer discretionary spending power. Bricks-and-mortar retail warehouses have, however, remained resilient due to the non-discretionary nature of underlying demand for grocery anchors and their convenience offer. But fundamental challenges for European shopping centres and high-street retail is expected to persist, despite destination shopping continuing to remain an integral part of the retail experience in the long term. We remain optimistic on the outlook for outlet centres, which are set to benefit from increasing consumer frugality.

Office sector ‘trifurcation’

As with retail, the office sector is experiencing occupier and investor needs varying greatly by the quality of asset and micro location. Experientially rich buildings in prime locations that meet sustainability standards and benefit from high-quality amenities will continue to attract demand. In addition, with the pathway to Net Zero Carbon in mind, the age and quality of existing stock in European markets presents an opportunity to create the offices of the future, particularly through refurbishment. However, there is a growing range of older stock which is likely to be stranded and should be sold at – or at times even below – current valuation before liquidity dries up.

Logistics demand story remains intact

Logistics has not been immune to recent market shocks and the ongoing cost-of-living crisis. A slowdown in take-up by major occupiers marks a change from many years of continued expansion. However, LaSalle believes that the sector remains in a robust position to grow in the coming months. European logistics properties recorded the highest demand for new space ever in H1 2022, driven by continuous e-commerce expansion, as well as just-in-case inventories and the nearshoring of some manufacturing activity. As a result, vacancy rates are at historical lows, and we remain confident of future prospects for European logistics rental growth.

Living strategies’ prospects at risk of divergence

The living sectors remain underpinneD by strong demand drivers including robust household formation, growth in key cities, an ageing population, increasing mobility and a structural undersupply across Europe. However, potential home buyers may tilt toward renting, owing to the rising cost of debt. For the more niche living sub-sectors, such as student housing and senior housing, investors will need to be ahead of the curve to take advantage of attractive pricing.

Finding value across the yield spectrum

With the European landscape evolving quickly, assessing the prospect for various sectors requires consideration of assets’ pricing yield levels and income growth potential.

LaSalle’s framework finds that for low-yield sectors with excellent fundamentals, like logistics, prime low-carbon offices in key cities and unregulated residential, valuations will hinge on the potential for and relative magnitude of future rental growth and an upward shift in yields. In low-yielding sectors where inflation cannot be offset by rental growth, caution must be exercised until markets stabilise.

Although higher-yielding sectors with challenged fundamentals are intuitively those in which value may be identifiable, recent concerns around economic growth have made their impact felt. The nascent retail recovery, for instance, is at risk from inflationary pressure on real incomes, while capex-intensive strategies to renovate buildings are affected by rising construction costs. Meanwhile, sectors with relatively higher yields and stronger net operating income growth potential – namely alternative living sectors, such as student accommodation or senior living – continue to remain attractive.

Brian Klinksiek, Head of European Research and Global Portfolio Strategies at LaSalle, said: “The past six months have seen macroeconomic headwinds and geopolitical risk affect the global economic outlook. European investors should therefore exercise caution in the coming months until market valuations and asset pricing stabilise. But despite this, real estate will remain an anchor as other asset classes struggle, and investors look for predictability. Underpinned by the long-term resilience of the asset class, careful portfolio construction across the key sectors of European real estate can continue to deliver the benefits of diversification, stability and long-term income growth for investors.”

Jacques Gordon, Global Head of Research and Strategy at LaSalle, added: “Real estate generally provided shelter during the waves of volatility that swept through the securities markets in the first half of the year. In the second half, we foresee different dynamics unfolding. The big change has been the sharp rise in inflation in Western countries and a “regime shift” from highly accommodative to tightening monetary policies by several central banks. Many world events simultaneously contributed to this inflection point including: the re-opening of economies after COVID-19, Russia’s invasion of Ukraine, trade wars, and government stimulus spending. Although these pressures were building in 2021, there is no escaping the fact that the financial and commodity markets shifted sharply in the first half of 2022. Our guidance for investors to seek inflation protection in real estate is a focus-theme of our mid-year update.”

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

Market direction and economic outlooks have shifted since the start of 2022, with elevated inflation, slowing economic growth, and higher interest rates impacting the real estate market. According to LaSalle’s 2022 Mid-Year Investment Strategy Annual (“ISA”), the overall market shifts are causing real estate investors to re-visit earlier strategies as they understand and react to higher inflation, the Fed’s and the Bank of Canada’s rapid interest rate increases to combat it, and global geopolitical and economic upheaval.  

LaSalle clients can view the full report at: www.lasalle.com/research-and-insights/isa-2020

In North America, the impacts of inflation and rising rates on real estate are nuanced, and require an understanding of each sector’s fundamentals, which the report explores. Coming into 2022, LaSalle Research & Strategy noted that the pandemic and its ensuing economic ripple effects had accelerated pre-pandemic trends, widening the gap between favored and non-favored property types. The mid-year report shows these trends are continuing as investors gravitate to favored property types with strong underlying fundamentals. Looking ahead, there is uncertainty in the market, but it appears as though the favored property types are well-positioned to withstand a potential economic slowdown.

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “Real estate generally provided shelter during the waves of volatility that swept through the securities markets in the first half of the year.  In the second half, we foresee different dynamics unfolding. The big change has been the sharp rise in inflation in Western countries and a “regime shift” from highly accommodative to tightening monetary policies by several central banks. Many world events simultaneously contributed to this inflection point including:  the re-opening of economies after COVID-19, Russia’s invasion of Ukraine, trade wars, and government stimulus spending.  Although these pressures were building in 2021, there is no escaping the fact that the financial and commodity markets shifted sharply in the first half of 2022.  Our guidance for investors to seek inflation protection in real estate is a focus-theme of our mid-year update.”
 

Select 2022 Mid-Year ISA findings for North America include:

• In line with the full-year ISA’s prediction, favored property types including industrial, multifamily, medical office and single family rentals continue to have strong fundamentals and outperform on a relative basis. Industrial development and transactions continue as there remains a supply gap and businesses who lease these spaces continue to show they can continue to pay rents, even as they increase. The residential property types also have a strong outlook. As interest rates rise and inflation impacts housing starts, many would-be homebuyers may look to rent.
   
• The debt markets remain liquid, providing the capital needed to finance transactions. While the Mid-Year ISA expects a slowdown in transactions, debt funds, life insurance companies and banks continue to lend to strong, established sponsors. Meanwhile, CMBS issuance has slowed, and higher interest rates mean highly leveraged borrowers are less competitive bidders for property. For borrowers, leverage is less accretive than last year, but many are still using leverage with the belief that future income growth will make leverage accretive to returns over their hold period.
   
• The report also looks at capital flows as barometer of market health, and notes that NAV REITs continue to raise capital, as retail investors start to establish a portfolio allocation to real estate and diversify amid a volatile market environment. While many closed-end funds still have dry powder from previous capital raises, new institutional capital raises appear to have slowed slightly as established investors have reached their target allocations after playing catchup over the last several years.
   
• Transaction volume in the first quarter of the year was higher than the first quarter of the prior year. US transaction volume last quarter was $157.6 billion, 76 percent higher than a year ago. In Canada, USD $10.7 billion traded in last quarter, representing a 71 percent year-over-year increase. The report estimates that pricing has adjusted downward from a peak in the first quarter of 2022 by a range of 0-15 percent depending on market segment, giving back a portion of the gains from the last 12 months. Though second quarter data is not yet available, anecdotally it seems transactions have slowed amidst shifting pricing and broader uncertainty. However, a bid-ask gap has not developed as buyers and sellers have been willing to accept similar price declines.
   

Rich Kleinman, Americas Co-CIO and Head of US Research & Strategy at LaSalle, said, “While it remains to be seen how inflation and interest rates will evolve in the second half of the year, it is our view that many property types are well-positioned to support investor goals in the months ahead, and that real estate exposure should play a productive role in investors’ portfolios. Experience in recent downturns is also helping investors and lenders navigate the uncertainty, which should bode well for the industry as a whole.”

Chris Langstaff, Head of Research and Strategy for Canada at LaSalle, said, “Canada is historically a stable market, and it appears that while many of the same headwinds apply, fundamentals remain strong and transactions in many property types are moving forward.”

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) today announced that after 28 years of distinguished service and leadership of the Research & Strategy group at the firm, Jacques Gordon has confirmed he will retire from the business at the end of 2022 in to order pursue interests in higher education. He will remain as the Global Head of Research & Strategy through the remainder of this year, and will be succeeded by Brian Klinksiek, LaSalle’s current Head of European Research & Global Portfolio Strategies, effective 1 January 2023.

Brian will continue to be based in London and will join LaSalle’s Global Management committee, reporting to CEO Mark Gabbay. Succession for Brian’s Head of European Research & Strategy role is in process and will be announced prior to his transition to global leadership in 2023.

LaSalle Global CEO Mark Gabbay said, “This transition reflects LaSalle’s continued focus on thoughtful leadership succession, offering both continuity along with fresh ideas to be infused across the organization. We are grateful for the numerous contributions Jacques has provided LaSalle and the broader industry over the course of his career, and look forward to recognizing these accomplishments in the months ahead. Brian’s professional experience positions him well to take on this role, having lived, worked, and covered the real estate markets in North America, Europe and Asia-Pacific.”

After joining LaSalle in 2020, Brian led the reorganization of LaSalle’s European Research & Strategy team from a geography-focused model to a more dynamic pan-European sector-focused model. He has deepened the Research & Strategy team’s integration within the firm’s newly formed European Debt & Value-add platform, and also led the creation of LaSalle’s global investment risk management function. Brian has been a leading industry advocate for the incorporation of climate risk analysis into investment-making decisions, and is a champion for diversity in the workplace, having been appointed Chair of LaSalle’s European Culture of Care committee in 2021.

Brian Klinksiek, incoming Global Head of Research & Strategy said, “It is an honor to be named the next leader of LaSalle’s world-class Research & Strategy team. Jacques has done a remarkable job establishing LaSalle’s reputation for timely insights, accurate forecasts, and impactful strategy that is fully integrated with the investment process. He has been a role model for me throughout my career – even before I joined the firm. I am thankful for his guidance and partnership, and look forward to continuing to seek his counsel as he moves into academia.”

Jacques Gordon, retiring Global Head of Research & Strategy said, “I am grateful for the experiences, insights and friendships I’ve gained during my time at LaSalle. Our Global Research & Strategy team is well-positioned to continue to deliver great value to our clients and investment colleagues around the world, and Brian is the right leader to drive the next phase of innovation and growth. I look forward to seeing the firm prosper as I transition to the next chapter of my career.”

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.7 billion in portfolio assets and advised by LaSalle Investment Management, announced today the acquisition of Patterson Place a 25,000-square-foot retail center in Durham, North Carolina. The retail property is anchored by Duke Medical Plaza, which was recently acquired by JLL Income Property Trust. Patterson Place was acquired for approximately $14.5 million.

“Patterson Place is a well-located, medical office-anchored retail center that we believe benefits from strong foot traffic generated by the recently acquired Duke Medical Plaza along with a strong tenant roster and a prime location at the intersection of two major thoroughfares that connect dense population centers,” said JLL Income Property Trust President and CEO Allan Swaringen. “We have conviction in the Raleigh market and believe the outlook for retail with a strong anchor tenant looks positive as pandemic restrictions ease and consumer spending remains elevated. All of these factors point to a strong investment that should yield long term, stable cashflow for our stockholders.”

Constructed in phases between 2010 and 2015, Patterson Place tenants include national retailers such as Five Guys, AT&T and Moe’s. The weighted average lease term is greater than five years. In addition to its strong tenant roster, Patterson Place benefits from local demographic tailwinds. According to LaSalle Research & Strategy, Raleigh’s in-migrations is expected to outpace the US rate with a high-concentration of prime-age workers over the next 10 years. Within a one-mile radius of the property annual population growth is projected to grow twice as fast as the US average, which should drive continued consumer demand.

The property’s location just off of Interstate 40 puts it at the center of a key regional connector between Durham, Research Triangle Park and Raleigh and makes it accessible to Duke University and University of North Carolina, both of which are just a 10-minute drive.

JLL Income Property Trust’s retail allocation is 14 properties in 13 key markets valued at $789 million and representing approximately 13 percent of its overall portfolio.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is proud to announce that it has received the 2022 ENERGY STAR® Partner of the Year Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy for the fourth consecutive year.

Each year, the ENERGY STAR program honors a group of businesses and organizations that have made outstanding contributions to protecting the environment through superior energy achievements. ENERGY STAR award winners lead their industries in the production, sale, and adoption of energy-efficient products, homes, buildings, services, and strategies. These efforts are essential to fighting the climate crisis and protecting public health.

Elena Alschuler, LaSalle Americas Head of Sustainability, said: “We’re thrilled to be awarded the ENERGY STAR Partner of the Year award for the fourth consecutive year. The EPA’s continued recognition reflects LaSalle’s commitment to a data-driven approach to sustainability throughout our investment underwriting and property ownership. Our standard practice includes using ENERGY STAR Portfolio Manager to assess the efficiency of our properties on an ongoing basis, allowing us to advance our sustainability goals in ways that should drive financial performance for our investors.”

EPA Administrator Michael S. Regan said: “We know it’s going to take all of us working together to tackle the climate crisis, and the 2022 ENERGY STAR award-winning partners are demonstrating what it takes to build a more sustainable future. These companies are showing once again that taking action in support of a clean energy economy can be good not only for the environment, but also for business and customers.”

This achievement adds to LaSalle’s strong track record of sustainability best practices and distinctions. Industry organizations continue to recognize LaSalle for sustainability leadership and maintaining its distinction as an employer of choice. LaSalle has received the following U.S. and global awards in the past year:

• 14 GRESB-rated funds: 1 five-star and 3 4-star ratings
• American Red Cross Corporate Wesbury Award
• 114 WELL Health-Safety Ratings across Americas portfolio
• P&I Best Places to Work in Money Management (6th year in a row)

About sustainability at LaSalle

At LaSalle, our purpose is clear: we deliver investment performance today for a better tomorrow for all our stakeholders. We recognize that sustainability has an essential, material influence on investment performance. We tailor our approach to each fund and each asset, working to protect and enhance financial returns today and in the future. We all contribute in different ways and integrate sustainability into our processes; it’s part of everything we do.

About ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR’s impacts can be found at www.energystar.gov/impacts and state-level information can be found at www.energystar.gov/statefacts.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is pleased to announce Allie Levy, an industry veteran with more than 15 years of experience, has joined the firm as Senior Vice President, Debt Capital Markets Strategy & Execution.

In this newly formed role Allie will partner with LaSalle’s Portfolio, Asset Management and Transactions teams to optimize terms and credit structures across the firm’s funds and will enhance LaSalle’s best practices, ensure deeper market coverage and promote expanded knowledge sharing within the firm. She will also be a key point of contact for LaSalle’s lender relationships.

Allie joins LaSalle from Great Wolf Resorts where she most recently served as Head of Capital Markets and Development Finance and closed more than $2.6 billion in debt transactions. Prior to her time at Great Wolf Resorts, she spent more than six years at GGP, ultimately serving as a Director of Capital Markets. She also has experience in banking, having worked as a senior underwriter in JPMorgan Chase’s real estate banking division. Allie is based in Chicago and reports to Kristy Heuberger and Brad Gries, Co-Heads of the Americas.

Heuberger said, “We’re thrilled to welcome Allie to our team. This newly formed role will be a critical partner for our teams as we hone our current debt strategy and execution, which we believe will allow us to provide greater returns to our investors over time. Allie is an experienced professional with a stellar reputation and a wide array of contacts, and we feel she will quickly make an impact at LaSalle.”

Levy added, “I’m excited to join LaSalle, a firm with a rich history of success in the real estate investment management industry. I look forward to contributing by working closely with the team to find creative financing solutions that benefit LaSalle’s clients.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL (NYSE: JLL) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2022 World’s Most Ethical Companies. For the 15th consecutive year, JLL has been honored for demonstrating exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance and governance practices. 

In 2022, 136 companies from 22 countries and 45 industries were honored. Of these, JLL is one of only four honorees in the real estate industry and one of only 12 that have been on the list 15 times or more.

LaSalle is a wholly owned subsidiary of JLL and is proud to share in this achievement.

Read more about this award on JLL.com

LaSalle Investment Management (“LaSalle”) announced that it has signed on as an inaugural partner in the US Department of Energy’s (DOE) Better Climate Challenge (BCC). Through the BCC, organizations can partner with DOE to reduce portfolio-wide scope 1 and 2 greenhouse gas (GHG) emissions by at least 50 percent within 10 years.

US Secretary of Energy Jennifer M. Granholm, said: “Better Climate Challenge partners like LaSalle Investment Management are committing to decarbonize across their portfolio of buildings, plants, and fleets and share effective strategies to transition our economy to clean energy. Their leadership and innovation are crucial in our collective fight against climate change while strengthening the U.S. economy.”

Elena Alschuler, Americas Head of Sustainability, added: “We’re proud to be an inaugural partner in the Better Climate Challenge, and strongly believe in its mission to reduce greenhouse gas emissions. This aligns with our continued efforts, through multiple regional and global commitments, to reduce the carbon footprint of our portfolio not only to help preserve the environment, but also to help drive returns for our investors through reduced energy use and lower operating costs.”

LaSalle’s partnership with DOE furthers its longstanding commitment to reduce emissions. Over the past several years, LaSalle has aligned with other leading initiatives globally, including the United Nations Net Zero Asset Managers initiative and the Urban Land Institute’s Greenprint Center for Building Performance Net Zero Carbon Goal. These commitments are just part of LaSalle’s broader sustainability philosophy of embedding sustainable practices across the business. LaSalle believes that integrating sustainability into its day-to-day work is the most effective method to maximize investment performance for clients while minimizing its impact on the environment.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $5.9 billion in portfolio assets and advised by LaSalle Investment Management, today announced the acquisition of Duke Medical Plaza, a nearly 60,000-square-foot, world-class, medical office building in Durham, North Carolina. The purchase price was approximately $37 million.

Occupying more than 86 percent of the property, Duke University Health System, an affiliate of Duke University, is the anchor tenant of the four-story property. The health system recently agreed to a lease extension and expansion that will increase the property’s occupancy to 96 percent with a weighted average lease term of more than nine years. Duke Health, the umbrella organization for the broad activities of the Duke University healthcare affiliates that occupy the property, is the state’s dominant academic healthcare provider, with 31 percent of local market share, and is ranked as the best hospital in North Carolina.

“We’re thrilled to add Duke Medical Plaza to our growing healthcare portfolio, as we continue to make healthcare-focused properties our priority focus within the office sector,” said JLL Income Property Trust President and CEO Allan Swaringen. “This well-located property, occupied by a world class tenant, fits squarely into our strategy of acquiring medical office buildings with these traits. This acquisition further diversifies our portfolio across our targeted property sectors that align with our Research & Strategy team’s recommended overweights.”

Constructed in 2010, Duke Medical Plaza is strategically located at the intersection of Interstate 40 and US 15-501 in the sought-after Research Triangle submarket, making it a close drive to large health systems including Duke Health and UNC Health in both Chapel Hill and Durham, respectively. This location provides easy access for patients and access to a highly educated workforce. Additionally, the property is in the middle of a large mixed-use center that includes a hotel and three forthcoming apartment communities.

This acquisition increases JLL Income Property Trust’s healthcare allocation to 15 properties totaling more than 1.1 million square feet, valued in excess of $450 million and representing approximately 8 percent of its overall portfolio

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is pleased to announce it has earned the WELL Health-Safety Rating for 114 office and multifamily properties in the U.S. and Canada through the International WELL Building Institute (“IWBI”). This represents one of the largest portfolios with combined space types to receive the WELL Health-Safety Rating. The WELL Health-Safety Rating is an evidence-based, third-party verified rating for all new and existing building and space types focusing on operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment now and into the future.

Designed to empower owners and operators across large and small businesses alike to take the necessary steps in order to prioritize the health and safety of their staff, visitors and stakeholders, the WELL Health-Safety Rating can help guide users in preparing their spaces for re-entry in the wake of the COVID-19 pandemic, instilling confidence in those who come through the building as well as the broader community.

Kristy Heuberger, LaSalle Co-Head of the Americas, said: “In today’s environment, it is critical to have healthy spaces that tenants can enjoy with peace of mind. The WELL Health-Safety Rating validates the best practices that we have implemented to keep people safe at our properties throughout this unprecedented time. We strongly believe in the value creation of the Well Health-Safety Rating as it demonstrates our commitment to improving the lives of our tenants and residents.”

Jessica Cooper, Chief Commercial Officer of IWBI, said: “LaSalle is a global leader in real estate assets. In achieving the WELL Health-Safety Rating for multiple office and residential properties across North America, LaSalle is showcasing leadership to scale the impact of health and well-being where people spend most of their time. IWBI congratulates LaSalle for achieving the rating and extending health benefits across the U.S. and Canada.”

In order to achieve WELL Health-Safety Rating, the properties implemented or demonstrated features such as improved air and water quality management, health service resources, emergency preparedness programs, enhanced cleaning and sanitation procedures,  and increased stakeholder engagement and communication.

The WELL Health-Safety Rating provides a centralized source and governing body to validate efforts made by owners and operators. It leverages insights drawn from the IWBI Task Force on COVID-19, in addition to guidance on the spread of COVID-19 and other respiratory infections developed by the World Health Organization, U.S. Centers for Disease Control and Prevention, global disease control and prevention centers and emergency management agencies, as well as recognized standard-making associations such as ASTM International and ASHRAE, and leading academic and research institutions, as well as core principles already established by IWBI’s WELL Building Standard, the premier framework for advancing health in buildings and spaces of all kinds.

LaSalle’s properties were awarded the WELL Health-Safety Rating following the successful completion of third-party documentation review by GBCI to confirm it has met the feature specific intents and requirements.

About the International Well Building Institute

The International WELL Building Institute (IWBI) is a public benefit corporation and the world’s leading organization focused on deploying people-first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and the WELL Health-Safety Rating, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and well-being for everyone, everywhere. More information on WELL can be found here.

International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Portfolio Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Workforce, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) announced that it has acquired Summerhouse Lakewood Ranch, a newly-constructed, Class A multifamily property in the Sarasota suburb of Lakewood Ranch, Florida. LaSalle purchased the 257-unit property, which was developed in 2021 by LIV Development, on behalf of a separate account client.

Summerhouse Lakewood Ranch is located just 11 miles from downtown Sarasota in a highly desirable and fast-growing suburban market. Its location directly off Highway 64 and less than three miles from I-75 provides residents excellent accessibility to amenities and major work nodes throughout the majority of the Tampa MSA. LaSalle Research & Strategy ranks the Sarasota-Bradenton market highly on its Small Market Apartment Target analysis due to its high household income, educated workforce and proximity to live-work-play amenities.

The tenant demand for apartments is underscored by the Sarasota-Bradenton market’s record-low vacancy, which was below 2 percent at the end of 2021, contributing to very strong year-over-year effective rent growth. Summerhouse Lakewood Ranch is part of the larger Lakewood Ranch master- planned community, launched in 1994, which recently became the U.S.’s best-selling master planned community.

Pat Pelling, Managing Director of Acquisitions at LaSalle, said: “Summerhouse Lakewood Ranch experienced an impressive lease-up as a result of the property’s strategic location within the Tampa/Sarasota MSA. Lakewood Ranch offers residents access to many lifestyle amenities as well as access to A-rated schools and nearby employment nodes. Given the strong projected population and economic growth of this market, we feel this asset will continue to see strong leasing momentum and rent growth in the years to come.”

Steve Lieb, Managing Director, Portfolio Manager at LaSalle, said: “Summerhouse Lakewood Ranch is an exceptional property that fits well within our investment thesis given its location, proximity to excellent schools and strong demographic trends in the area. We have conviction that well-located, Class A multifamily properties will continue to generate strong tenant demand and create excellent cash flow for our client, while appreciating in value as investors continue to favor this property sector. The Sunbelt generally, the Tampa and Sarasota area included, has seen tremendous job growth and favorable demographic tailwinds to support continued rent growth.”

Summerhouse Lakewood Ranch features condo-quality unit finishes including stainless-steel appliances, granite countertops, wood-style flooring and keyless entry. The community’s amenity package includes a pool, a fitness center, a yoga/wellness lounge, pet spa and expansive clubhouse.

About LIV Development

LIV develops, acquires, and operates Class A multifamily communities across the southern United States. Known for intentional and innovative design, leading edge amenities, and desirable locations, LIV seeks to enrich the lives of its residents while positively impacting communities and delivering superior returns to investors. Throughout its 15-year history, LIV has developed or acquired more than 20,000 multifamily homes with a total combined market capitalization of $3 billion. Headquartered in Birmingham, Alabama LIV has regional offices in Charlotte, Dallas, and Tampa. Learn more at livdev.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.9 billion in portfolio assets, and advised by LaSalle Investment Management, today announced the acquisition of Elgin Distribution Center, a Class A, two-building industrial property totaling 407,000 square feet and located in the northwest Chicago suburb of Elgin, Illinois. The purchase price was approximately $47 million.JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.9 billion in portfolio assets, today announced the acquisition of Elgin Distribution Center, a Class A, two-building industrial property totaling 407,000 square feet and located in the northwest Chicago suburb of Elgin, Illinois. The purchase price was approximately $47 million.

“The Elgin Distribution Center fits squarely within our industrial investment thesis as a well-located, newly constructed property with strong tenant profiles,” said Allan Swaringen, JLL Income Property Trust President and CEO. “The Elgin warehouse submarket stands out for its access to a robust labor pool and close proximity to Chicago, along with O’Hare International Airport, which we believe will drive long-term value for these properties. Industrial remains an overweight target for our portfolio given our belief that it will provide strong, long-term cashflow to our diverse portfolio. Our aggregate industrial allocation is now over $1.7 billion, or approximately 30 percent of our $5.9 billion portfolio, and includes 54 properties across 13 key markets.”

Recently constructed in 2020, the properties are built to state-of-the-art design specifications. The larger building, which totals over 326,000 square feet, is cross-docked with 33-foot clear heights. The smaller building, which totals more than 80,000 square feet is rear docked and has 29-foot clear heights and includes a front-office. The properties are 100 percent leased with a weighted average lease term of approximately 10 years.

According to LaSalle Research & Strategy, the Chicago metro is the country’s second largest industrial market, with 1.2 billion square feet of industrial space. Chicago’s central location, proximity to irreplaceable transportation infrastructure and access to a large population make it a critical hub for national distributors. Over the four quarters ending in Q1 2021, Chicago’s industrial market experienced 18.5 million square feet of net absorption and a steady decline in vacancy rates. Chicago also has the highest going-in yields of any gateway industrial market in the U.S. The Elgin Distribution center also benefits from access to a growing population and large labor pool, as well as excellent access to major transportation nodes including Interstate 90, Route 31, Randall Road and Route 47.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

Mea aeterno eleifend antiopam ad, nam no suscipit quaerendum. At nam minimum. Et has minim elitr intellegat. Mea aeterno eleifend antiopam ad, nam no suscipit quaerendum. At nam minimum ponderum. Ex duo eripuit mentitum. Et has minim elitr intellegat.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, 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. 

Valuations, Forward Looking Statements and Future Results

This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.9 billion in portfolio assets and advised by LaSalle Investment Management, today announced the acquisition of South Louisville Distribution Center, a 327,000-square-foot, newly constructed Class A industrial property strategically located in the Bullitt County industrial submarket, one of Louisville’s top locations for industrial properties. The purchase price was $39.5 million.

The property is fully leased for seven years to Rivian, an electric vehicle automaker and automotive technology company which recently completed a successful initial public offering. The lease includes annual rent increases of 2.75 percent.

“South Louisville Distribution Center is an excellent fit within our geographically diversified industrial portfolio given its location near irreplaceable transportation infrastructure, state-of-the-art construction and the positive dynamics of Louisville’s industrial market,” said Allan Swaringen, JLL Income Property Trust President and CEO. “The Bullitt County submarket has also been a recent benefactor of supply constraints in the closer-in airport industrial submarket, with limited big-box vacancy, which should continue to create strong demand for industrial space there. We have high conviction in the overall warehouse property sector and its ability to create stable, long-term cashflow, which is why we continue to view it as an overweight allocation for our portfolio.”

JLL Income Property Trust’s aggregate industrial allocation is now over $1.7 billion of warehouse holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio.

Completed in August 2021, the property includes Class A features such as cross docking, 36-foot clear heights and LED lighting.

According to LaSalle Research & Strategy, Louisville is an overweight market whose merit is driven by an above average return outlook, lower volatility and strong rent growth expectations. Louisville’s central location at the confluence of major Interstate highways including I-64, I-65, and I-71, reinforcing JLL Income Property Trust’s research-led industrial strategy focused on acquiring properties with primary access to critical hubs of distribution and transportation infrastructure. The property is a short drive from major distribution hubs including UPS Worldport (Air Distribution Hub), UPS Centennial Hub (Ground Distribution Hub) and Louisville International Airport. The Louisville industrial market’s vacancy rate is just 3.7 percent, below the 4 percent national average vacancy for industrial.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $5.5 billion in portfolio assets advised by LaSalle Investment Management, today announced the acquisition of North Tampa Surgery Center, a 13,000-square-foot, newly constructed medical office building in Odessa, Florida. The property is 100 percent leased on a long-term basis to Comprehensive Outpatient Joint and Spine Institute Center. The purchase price was approximately $8.5 million.

“Within the office sector, our priority investments are healthcare-oriented, focusing on medical office and life science properties,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “In an uncertain environment for traditional multi-tenant office properties, these two healthcare-oriented sectors stand out for their lower vacancy rates, healthy net absorption and balanced new supply due to significant barriers to entry. These factors also lead to higher tenant retention, even during periods of weakness within traditional office market environments.”

This acquisition increases JLL Income Property Trust’s healthcare allocation to nine properties totaling more than 925,000 square feet, valued close to $360 million and representing approximately 7 percent of its overall portfolio.

Swaringen added: “The shift towards outpatient, standalone surgery centers as an alternative to undergoing procedures in traditional hospital settings combined with the continued aging of our population positions medical office buildings as attractive portfolio additions to our stable value, income-oriented portfolio. It also positions the portfolio well to capture current and future demand, ultimately resulting in what we anticipate to be stable occupancy and long term cashflow.”

The build-to-suit property, newly constructed this year, comprises three surgery centers and new and innovative technology. The lease term is for 20 years and provides for an average of 2 percent annual rent increases. Located in the northern suburbs of Tampa, Odessa is a low-density but quickly growing community that is within 10 miles of nine hospitals, creating a strong base of potential referrals for North Tampa Surgery Center. LaSalle’s Research & Strategy team forecasts the area should continue to see strong population growth and increased healthcare spending.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.5 billion in portfolio assets advised by LaSalle Investment Management, today announced the acquisition of Friendship Distribution Center, a newly constructed, four-building industrial portfolio totaling nearly 650,000 square feet. The Class A properties are located in the Atlanta suburb of Buford, Georgia, home to the premier Northeast Atlanta industrial submarket. The purchase price was $95 million.

“Friendship Distribution Center’s location in Atlanta’s Northeast submarket, high quality new construction and proximity to irreplaceable transportation infrastructure makes this an excellent portfolio fit for us as we continue to execute on our strategy of increasing our allocation to core industrial assets,” said Allan Swaringen, JLL Income Property Trust President and CEO. “Given this property’s strong tenant profile and exceptional location, this acquisition aligns well with our overall strategic objectives.”

JLL Income Property Trust’s aggregate industrial allocation is now over $1.6 billion of industrial holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio.

Friendship Distribution Center is in an “A” location, with immediate proximity to Interstate 985, the major highway in the Northeast Atlanta submarket. Its strategic location provides access to the entire Eastern seaboard within a one to two-day drive.

Friendship Distribution Center is 96 percent leased to five tenants, with a weighted average lease term of approximately six years. According to LaSalle Research & Strategy, Atlanta is the fourth largest industrial market in the U.S. with more than 660 million square feet of space. The market set an absorption record in the second quarter of 2021 of 8.6 million square feet, bringing vacancy down to just 5 percent. The Northeast submarket specifically saw 2.1 million square feet of net absorption in the second quarter, the highest of any submarket in the Atlanta metro area, accounting for 24 percent of total absorption.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit wwwww.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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $5.1 billion in portfolio assets advised by LaSalle Investment Management, announced today the acquisition of Miramont Apartments in the Denver suburb of Fort Collins, Colorado. The 15-building, 210-unit garden-style apartment community was acquired for approximately $58 million, bringing the portfolio’s total residential allocation to more than $2 billion, or 43 percent of total assets.

“The addition of Miramont Apartments increases our residential allocation, an overweight target for us, and aligns with our strategy to invest in well-located multifamily communities with strong demand drivers and high barriers to entry for new competition,” said Allan Swaringen, JLL Income Property Trust President and CEO. “Given its proximity to key economic drivers such as Colorado State University and local technology and manufacturing companies, along with a limited construction pipeline and low vacancy, we believe this investment will continue to see strong tenant demand and stable occupancy, making this an attractive, long-term investment for our diversified portfolio.”

Constructed in 1995, Miramont Apartments recently underwent unit renovations and has maintained a strong average occupancy of greater than 94 percent over the past three years. The community is currently more than 98 percent leased.

Located 50 miles north of Denver along I-25, Fort Collins is the No. 3-ranked market by LaSalle Research & Strategy on its most recent Small Apartment Market Analysis owing to Fort Collins’s limited construction pipeline, strong long-term vacancy rate of just 4.3 percent (15-year average) and annualized rent growth of 4 percent over the last 15 years. This market’s vacancy rate and rent growth are 1.2 percent and 1.6 percent better than the US average, respectively. Fort Collins also has a favorable rent versus own dynamic with median home prices of more than $400,000. The city also benefits from a strong labor market, bolstered by Colorado State University, which drives demand for well-located highly-amenitized apartment communities. The property is also located in an A-rated school district, according to Niche.com, and benefits from several walkable retail amenities.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $5.1 billion in portfolio assets advised by LaSalle Investment Management, announced today the acquisition of Pinecone Apartments in the Denver suburb of Fort Collins, Colorado. The 13-building, 195-unit garden-style apartment community was acquired for approximately $52 million, bringing JLL Income Property Trust’s total residential allocation to more than $2.0 billion, or 43 percent of total assets.

“The addition of Pinecone Apartments increases our residential allocation, an overweight target for us, and fits extremely well with our strategy to invest in well-located multifamily communities with strong demand drivers and high barriers to entry for new competition,” said Allan Swaringen, JLL Income Property Trust President and CEO. “Given its proximity to Colorado State University and the north suburban Denver area, we believe this investment will continue to see strong tenant demand and stable occupancy, making this an attractive, long-term investment for our diversified portfolio.”

Constructed in 1993, Pinecone Apartments recently underwent unit renovations and has maintained a strong average occupancy of 95 percent over the past three years. The community is currently 97 percent leased.

Located 50 miles north of Denver along I-25, Fort Collins is the No. 3-ranked market by LaSalle Research & Strategy on its most recent Small Apartment Market Analysis owing to Fort Collins’s limited construction pipeline, strong long-term vacancy rate of just 4.3 percent (15-year average) and annualized rent growth of 4 percent over the last 15 years. This market’s vacancy rate and rent growth are 1.2 percent and 1.6 percent better than the US average, respectively. The city benefits from a strong labor market, bolstered by Colorado State University, which drives demand for well-located, amenitized apartment communities. The property is also located in an A-rated school district, according to Niche.com, and benefits from several walkable retail amenities.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $5.1 billion in portfolio assets and advised by LaSalle Investment Management, today announced the acquisitions of 5 & 47 National Way, two life sciences properties located in Durham, North Carolina. The properties total approximately 375,000 square feet and are each 100 percent leased to life science tenants. The purchase price was approximately $67 million.

“Healthcare-focused properties, including life sciences, continue to be an area of focus for us as we look to capture the property type’s nearly unparalleled leasing demand and long-term value,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Limited new supply, exceptionally strong occupancy along with significant barriers to entry due to higher construction and tenant improvement costs made 5 & 47 National Way attractive investments. The tenants have also shown their commitment by investing, approximately, a combined $180 million in property upgrades to create world-class laboratory facilities. We’re pleased to add these properties to our growing healthcare-oriented portfolio.”

Both properties were newly constructed in 2020 and include above-standard improvements by both tenants including lab, clean and cold rooms, specialized sanitation stations, and specialized water and power upgrades.

The properties are located adjacent to Research Triangle Park, the largest dedicated scientific research park in the U.S. and one of the primary economic drivers in the Raleigh-Durham area. LaSalle Research & Strategy ranks Raleigh as an “overweight” market for life science properties given projected annual rent growth of 4.7 percent through 2024. Vacancy in the nearby Interstate-40/Research Triangle Park submarket is just 2.3 percent and limited new supply has contributed to accelerated rent growth. The weighted average lease term on the two properties is more than 14 years.

This acquisition increases JLL Income Property Trust’s healthcare allocation to eight properties totaling more than 910,000 square feet, valued at nearly $350 million and representing approximately 7 percent of its overall portfolio. JLL Income Property Trust earlier this year purchased 170 Park Avenue, a premier life sciences property in Florham Park, New Jersey and recently acquired 9101 Stony Point Drive, one of Virginia’s top medical office properties.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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. For more information, visit www.jllipt.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $4.5 billion in portfolio assets advised by LaSalle Investment Management, announced today the acquisition of The Preserve at the Meadows, a garden-style apartment community in Fort Collins, Colorado. The purchase price was approximately $61 million, and brings the portfolio’s total residential allocation to nearly $1.8 billion, or 41 percent of total assets.

“This addition to our growing residential portfolio fits extremely well with our strategy to invest in well-located communities with strong demand drivers and high barriers to entry for new competition,” said Allan Swaringen, JLL Income Property Trust President and CEO. “Given its proximity to Colorado State University and the Denver metro area we believe The Preserve will continue to see growing tenant demand and higher occupancies, making this an attractive, long-term investment for our diversified portfolio.”

Located 50 miles north of Denver along I-25, Fort Collins is the No. 3-ranked market by LaSalle Research & Strategy on its most recent Small Apartment Market Analysis owing to Fort Collins’s limited construction pipeline, strong long-term vacancy rate of just 4.3 percent (15-year average) and annualized rent growth of 4 percent over the last 15 years. This market’s vacancy rate and rent growth are 1.2 percent and 1.6 percent better than the US average, respectively. The city benefits from a strong labor market, bolstered by Colorado State University, which drives demand for well-located highly-amenitized apartment communities. The property is currently 97 percent leased. The Preserve is also located in an A-rated school district, according to Niche.com, and benefits from several walkable retail amenities.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $4.5 billion in portfolio assets advised by LaSalle, today announced it has acquired an approximately 47 percent interest in a stabilized, core, geographically diverse single-family rental portfolio. The existing portfolio of over 4,000 homes was assembled and is managed in a venture with affiliates of Amherst Residential, an Austin, Texas-based investor and manager of single-family rental homes and an institutional investor. Income Property Trust’s 47 percent investment was acquired for approximately $560 million based on an overall portfolio valuation of $1.2 billion.

“This is a unique and attractive opportunity for us to enter the single-family rental market at scale through a previously acquired, renovated and stabilized portfolio with broad nationwide diversification,” noted Allan Swaringen, President and CEO of JLL Income Property Trust. “LaSalle’s Research & Strategy team has identified single-family rentals as a ‘near-core’ property sector poised for accelerating institutional capital inflows along with an attractive risk adjusted return profile.  Given the superior long-term tenant demand growth outlook, our research projects long-term expected rent and NOI growth above all other institutional property type averages.” 

“Those strong fundamentals are also supported by favorable demographics as a diverse set of cross-generational tenants seek single-family home living, increased demand as people look for more living space amid and post-pandemic, along with a constrained supply of new homes and rising construction costs.”  Swaringen added, “We are focused on investing in sectors that benefit from strong, secular tailwinds and we believe that single-family rentals are an excellent complement to our existing broadly diversified apartment portfolio. With this transaction we have grown our residential allocation to over 40 percent of our portfolio, a strategic overweight objective for us over the last few years.”

The portfolio is broadly diversified across fourteen major markets in 10 different states with homes spread across multiple locations within these markets. Nearly 80 percent of the portfolio is located in LaSalle’s research identified single-family market recommendations which include Atlanta, Dallas, Phoenix, Nashville, Charlotte, and Tampa. This broadly diversified portfolio offers a compelling risk-return profile relative to traditional large-scale apartment communities given limited asset-specific risks as compared to the traditional supply and geographic risks inherent with numerous units concentrated in one location. The portfolio is currently over 96 percent leased and occupied with no displacement anticipated as a result of the transaction.

JLL Income Property Trust’s investment was funded with approximately $205 million of equity and an assumption of its proportionate share of attractive in-place financing – a $761 million securitized loan, interest only at a fixed rate of 2.1 percent maturing at the end of 2025.  At the current valuation the portfolio loan-to-value ratio is approximately 63 percent.

Amherst Residential is a privately-owned, vertically integrated owner and operator of more than 30,000 single-family rental homes in 30 markets and 20 states aggregating to more than $9.8 billion of assets under management.  The firm delivers customized, stabilized cash-flowing portfolios of assets to its investors, wrapped in all the ongoing services required to manage, own, and finance the asset including property management, portfolio management, and a full capital markets team. Its investment platform utilizes a sophisticated, technology-based acquisition process to identify parameters, such as an area’s economic viability, household formation, employment, and population trends, and the competitive landscape. They operate the fourth largest single-family rental platform in the U.S.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

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About Amherst Residential

Amherst is on a mission to transform the way real estate is owned, financed, and managed. Amherst leverages its proprietary data, analytics, technology, and decades of experience to seek solutions for a fragmented, slow-to-evolve real estate ecosystem and to materially improve the experience for residents, buyers, sellers, communities, and investors. Over the past decade, Amherst has scaled its residential platform to become one of the largest operators of single-family assets and has acquired, renovated, and leased more than 37,000 homes across 30 markets in the U.S.  Today Amherst has over 900 employees and more than $9.8 billion in assets under management*.

*As of 3/31/21

About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail 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. For more information, visit www.jllipt.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) announced that it has acquired Altis Grand at the Preserve, a newly-constructed, Class A multifamily property in the Tampa suburb of Odessa, Florida. LaSalle purchased the 350-unit property on behalf of a separate account client. The property was developed The Altman Companies, a Boca Raton Florida based real estate development company.

Located in the Tampa suburb of Odessa, Altis Grand at the Preserve provides residents excellent mobility via Highways FL-54 and FL-589, allowing convenient access to the majority of the Tampa MSA. It also provides access to walkable retail amenities such as Greenwise Market, a health-conscious grocery store concept launched by Publix, CVS Pharmacy, Panera Bread, and various other shops. LaSalle Research and Strategy rates Tampa an “overweight” target market for multifamily due to its excellent rent growth, which exceeded the national average by 5.6% as of March 2021, and its low vacancy of just 4 percent for stabilized multifamily properties.

Pat Pelling, Senior Vice President of Acquisitions at LaSalle, said: “Altis Grand at the Preserve’s lease-up was strong, even during the pandemic, as a result of the property’s prime suburban location with walkable amenities and easy highway access. Given the strong projected population and economic growth of this market, we feel Altis Grand at the Preserve will continue to see strong leasing momentum and rent growth in the years to come.”

Steve Lieb, Managing Director, Portfolio Manager at LaSalle, said: “Altis Grand at the Preserve is an exceptional property that fits well within our investment thesis given its location, proximity to excellent schools and strong demographic trends in the area. We have conviction that well-located, Class A garden-style multifamily properties will continue to generate strong tenant demand and create excellent cashflow for our client, while appreciating in value as investors continue to favor this property sector. The Sunbelt generally, Tampa included, has seen tremendous job growth and favorable demographic tailwinds to support continued rent growth.”

Altis Grand at the Preserve features luxury unit finishes including stainless-steel appliances, quartz countertops, in-unit washers and dryers, walk-in closets and programmable thermostats. The community’s amenity package includes a pool, a fitness center, a yoga/wellness lounge, spa lounge, movie theater, wine tasing room and walking trails around the adjacent lake.

About The Altman Companies

Since 1968, The Altman Companies has developed, constructed, acquired and managed over 26,000 multi-family homes in Florida, Michigan, Illinois, Tennessee, Georgia, Texas and North Carolina.  The Altman Companies has a reputation for developing and operating upscale apartment homes delivering with it ‘Exceptional Living Experiences’ for its residents.  The company has distinguished itself by creating boutique mid-rise and garden-style communities under its Altís brand with resort-style amenities and high-touch services.  Since 2017, The Altman Companies has opened three new apartment communities in South Florida including Altís Boca Raton and Altís Pembroke Gardens, and five in Central Florida – Altís Shingle Creek in Kissimmee, Altís Wiregrass Ranch in Wesley Chapel, Altís Promenade in Lutz, and Altís Grand Central in Tampa and Altís Grand at The Preserve in Northwest Tampa. Today, The Altman Companies has several communities under construction or in the pipeline throughout Florida, including Altís Lake Willis in the Vineland Pointe submarket of Orlando, and four in Miami metro area – Altís Miramar, Altra Miramar, Altís Little Havana, and Altís Ludlum Trail. Known for its development of exceptional apartment living, the company has been a leader in the rental apartment field and has been recognized as the South Florida Developer of the Year by South Florida Business Journal.  For more information on The Altman Companies, go to www.AltmanCos.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $3.7 billion in portfolio assets advised by LaSalle Investment Management, today announced the acquisition of Louisville Airport Distribution Center, a nearly 284,000-square-foot, newly constructed Class A industrial property located in the Southside/Airport industrial submarket, Louisville’s top location for industrial properties. The purchase price was $32.1 million. This acquisition is JLL Income Property Trust’s second in Louisville after purchasing the Louisville Distribution Center earlier this year.

“The Louisville Airport Distribution Center’s infill location in the Southside/Airport industrial submarket, where vacancy is just 1.9 percent, makes this an excellent portfolio fit for us as we continue to increase our allocation to core industrial assets located in close proximity to irreplaceable transportation infrastructure,” said Allan Swaringen, JLL Income Property Trust President and CEO. “Given this property’s modern construction, strong tenants and exceptional location, we feel it will provide strong long-term value and cashflow to our diverse portfolio.”

According to LaSalle Research & Strategy, Louisville is an overweight market whose merit is driven by an above average return outlook and strong rent growth expectations. Louisville’s central location at the confluence of major highways allows distribution to over half the U.S. population within a day’s drive via interstate highways I-24, I-64, I-65, I-71 and I-75, reinforcing JLL Income Property Trust’s research-led industrial strategy focused on acquiring properties with primary access to critical hubs of distribution and transportation infrastructure. The property is within five miles from major distribution hubs including UPS Worldport (Air Distribution Hub), UPS Centennial Hub (Ground Distribution Hub), and the Louisville International Airport, and is just 2.5 miles from GE Appliance Park.

Constructed in 2020, the property is fully leased to Haier US Appliance Solutions (an entity of GE Appliances) and Derby Industries, with a weighted average lease term of 5.1 years. It includes modern features such as a 36-foot clear height, LED lighting and HVAC throughout. This investment adds to JLL Income Property Trust’s aggregate industrial allocation of over $1 billion of industrial holdings in 39 properties across 12 key markets, or approximately 31 percent of its $3.7 billion portfolio.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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. For more information, visit www.jllipt.com.

Valuations, Forward Looking Statements and Future Results

This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is pleased to announce it has been named the 2021 Corporate Wesbury Award winner by the American Red Cross’s (“Red Cross”) Greater Chicago Chapter. The award recognizes those who enhance the visibility of the Red Cross by helping deliver their services and messages of health, safety and preparedness.

When the COVID-19 pandemic began in 2020, the U.S. faced a critical blood shortage due to social distancing, stay-home orders and other measures which made it difficult to host blood drives. LaSalle stepped up to help fill this gap by collaborating with the Red Cross to host 29 blood drives in properties across its portfolio. The drives yielded enough blood to save nearly 1,500 lives.

Kristy Heuberger, LaSalle Co-Head of the Americas, said: “We are extremely proud to receive this recognition from the Red Cross. As an organization, we are passionate about making a positive impact on where we live, work and invest. Finding a way to help the community in a time of need speaks volumes about the character of the individuals that make up our firm. We are thankful to our property teams for their assistance in executing these drives and to tenants for their participation. We are also grateful for the opportunity to contribute to the Red Cross’s essential mission, and would like to thank them for their guidance and this recognition.”

Celena Roldán, CEO, Illinois Red Cross, said: “We are proud to honor LaSalle Investment Management with the Chicago Red Cross Corporate Wesbury Award for 2021. During such a challenging year, LaSalle Investment Management was an important partner in securing the life-saving blood donations needed after so many blood drives were cancelled due to the pandemic. We appreciate LaSalle Investment Management hosting blood drives this past year in their properties. We are grateful for our partnership and know the many families that benefited due to the nearly 30 blood drives hosted share our appreciation.”

About the American Red Cross

The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies about 40 percent of the nation’s blood; teaches skills that save lives; provides international humanitarian aid; and supports military members and their families. The Red Cross is a not-for-profit organization that depends on volunteers and the generosity of the American public to perform its mission. For more information, please visit redcross.org or cruzrojaamericana.org, or visit us on Twitter at @RedCross.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle is delighted to announce another letting at Sixty London Wall, the 10-storey office-led development in the City of London, acquired on behalf of The California State Teachers’ Retirement System (‘CalSTRS’).

The most recent letting of 25,000 sq ft on the part 5th floor to Interxion follows the recent news of both AllianceBernstein and Mondrian committing to the building. LaSalle Investment Management took the strategic decision to split the part 5th floor to accommodate this exciting technology business and bring a new occupier type to the building. The letting will enable a smaller occupier of 15,000 sq ft to acquire space within the building on the remaining part floor with stunning views towards the tower cluster and over Finsbury Circus.

Interxion are bringing together different parts of the business and chose 60 London Wall for their new London Headquarters due to its quality, amenity and location in the City.

Sixty London Wall provides spectacular, new Grade A office accommodation over 10 upper floors totalling 328,000 sq ft. The building has been designed with excellence and sustainability in mind and has been awarded a BREEAM ‘outstanding’ rating and targets a 2-star Fitwell rating. The adaptable available office floor plates range from 15,000 sq ft to 40,000 sq ft designed around the crucifix-shaped central core enabling four points of access.

Gary Moore, Fund Manager at LaSalle, said: “We are delighted to have secured a further letting and welcome a Interxion, a data and technology business to Sixty London Wall.”

Sixty London Wall is designed by EPR Architects with March and White the interiors architect. The building was constructed by Skanska on behalf of LaSalle and Citygrove Securities. LaSalle and Citygrove’s advisers include property consultants Gleeds and engineering consultants Mecserve.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.6 billion in portfolio assets and 86 properties advised by LaSalle Investment management, announced today the acquisition of Princeton North Andover, a 192-unit, luxury apartment community in the affluent north-Boston suburb of North Andover, Massachusetts. The purchase price was $72.5 million.

“This addition to our growing apartment portfolio fits extremely well with our strategy to invest in amenity-rich, newer communities with high barriers to entry for new competition,” noted Allan Swaringen, JLL Income Property Trust President and CEO. “North Andover’s strict limits on future multifamily development, higher single-family home prices and educated workforce create an environment where luxury apartment communities will continue to be in-demand and should be attractive long-term investments within our diversified portfolio.”

Suburban Boston is listed as an “overweight” market and ranked in the top five markets, according to LaSalle’s Research & Strategy Group’s proprietary national market tracking database. Greater Boston boasts a highly educated labor market given the number of higher education institutions located in and around the city. This workforce supports Boston’s established and growing technology, biotech, and pharmaceutical employment sectors and subsequently drives demand for high-end housing. Princeton North Andover is located in the North Essex County submarket, which boasts an extremely low vacancy rate of 2.2 percent.

North Andover upholds one of the strongest demographic profiles of all surrounding towns, with an average household income of more than $160,000, an average home sale price of more than $700,000, and a public school system that ranks in the top 25 percent state wide, according to Niche.com. JLL income Property Trust’s acquisition of Princeton North Andover on an off-market basis was at approximately $375,000 per unit.

Constructed in 2019, Princeton North Andover features luxury unit finishes and provides residents with a robust community amenity package including a fitness center, pool, yoga studio, outdoor grilling areas, and resident clubhouse. The property also offers rare suburban walkability with nearby live-work-play amenities including retail, restaurants, and a commuter rail station just two miles away. Located less than two miles from I-495 and a short drive from I-93, Princeton North Andover offers convenient access to an abundance of suburban employment as well as Downtown Boston.

JLL Income Property Trust’s aggregate apartment allocation is now over $1.1 billion, with 4,034 apartment units across 17 communities representing 33 percent of the $3.6 billion, 86-property portfolio.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is pleased to announce Jennifer Perkins, an industry veteran with more than 25 years of experience, has joined the firm as Managing Director, Defined Contribution Portfolio Manager.

Jennifer spent the previous 25 years at Principal Real Estate Investors, where she most recently served as Senior Director of Defined Contribution Real Estate Solutions. Jennifer will be based in Chicago and report to Alok Gaur, Global Head of Investor Relations. In her new role with LaSalle she will be focused on building a capital raising strategy, managing the fund and executing a growth plan centered around LaSalle’s Defined Contribution (“DC”) product in the U.S.

With Jennifer’s hiring, LaSalle will soon offer a daily valued, private real estate investment product to the DC market. This new initiative will allow DC plans to take advantage of the benefits of adding institutionally managed, core, private real estate to their portfolios, including long-term, stable returns and low correlations to conventional asset classes. The primary focus is for the new product to be included in Target Date or other multi-asset portfolios that are gaining significant assets in the larger, defined contribution plans of public and private US employers.

Alok Gaur, LaSalle Global Head of Investor Relations, said, “The defined contribution market remains under allocated to real estate, with DC plans investing less than a percent of their portfolio into real estate on average. We believe institutional sponsorship of real estate solutions for the DC market has the potential to enhance retirement outcomes for investors. Jennifer’s deep experience and industry-wide relationships, combined with LaSalle’s strong global platform, create a unique opportunity for a product that can provide DC investors the diversified exposure to private real estate they need.”

Jennifer Perkins, the incoming Managing Director, Defined Contribution Portfolio Manager at LaSalle, said, “I am excited to join LaSalle and add to the firm’s track record of forming relationships with and generating returns for institutional investors. The defined contribution market’s size and growth provides ample opportunity to innovate and offer an exceptional product backed by LaSalle’s well-respected track record and brand.”

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is proud to announce that it has received the 2021 ENERGY STAR® Partner of the Year Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy for the third consecutive year. The ENERGY STAR Partner of the Year award recognizes organizations that have made outstanding contributions to protecting the environment through superior energy achievements.

Elena Alschuler, LaSalle Americas Head of Sustainability, said: “This award is a testament to our continued commitment to sustainability. We believe implementing energy saving measures across our portfolio and using ENERGY STAR Portfolio Manager to track our progress is what’s best for our environment and the communities where we operate. At the same these actions contribute to our portfolio risk management efforts and enhance the performance metrics we are able to provide to our investors.”

EPA Administrator Michael S. Regan said: “ENERGY STAR award-winning partners are showing the world that delivering real climate solutions makes good business sense and promotes job growth. Many of them have been doing it for years, inspiring all of us who are committed to tackling the climate crisis and leading the way to a clean energy economy.”

ENERGY STAR Award Winners lead their industries in the production, sale, and adoption of energy-efficient products, services, and strategies. These efforts are essential to fighting the climate crisis and protecting public health. Winners are selected from a network of thousands of ENERGY STAR partners. For a complete list of 2021 winners and more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.

This achievement adds to LaSalle’s track record of sustainability best practices and distinctions. Industry organizations continue to recognize LaSalle for sustainability leadership and maintaining its distinction as an employer of choice. LaSalle has received the following U.S. and global awards in the past year:

• GRESB, UN Principles for Responsible Investment Disclosure
• ULI Greenprint Net Zero Carbon Global Alignment
• Fitwel ‘Best in Building Health’ Recognition
• P&I Best Places to Work in Money Management

About ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $450 billion in energy costs and achieve 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR can be found at: https://www.energystar.gov/about and https://www.energystar.gov/about/origins_mission/energy_star_numbers.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.5 billion in portfolio assets and 85 properties advised by LaSalle Investment Management, is pleased to announce The Penfield, a Class A, 254-unit apartment community in St. Paul, Minnesota, has been recognized as part of the “Best in Building Health” awards administered by the Center for Active Design’s Fitwel program. The award was given for the 2020 Highest Score: Multifamily Residential v2.0 (Built) category.

“We’re extremely proud to have The Penfield recognized for its industry-leading, health-focused design,” said Allan Swaringen, JLL Income Property Trust President & CEO. “We pride ourselves on investing in properties that provide safe, healthy and inspirational living spaces for residents, and that ethos is especially important now as we begin to emerge from the COVID-19 pandemic.”

Elena Alschuler, LaSalle Americas Head of Sustainability said: “As a Fitwel Champion, we are working hard to scale Fitwel across our portfolio. The program’s rigorous standards ensure our residents’ well-being is a top priority, which ultimately accrues to the benefit of our investors, as well.”

In 2020 The Penfield became the first-ever apartment community in Minnesota to receive a Fitwel rating. The property received a two-star rating, the second highest designation from Fitwel, given its proximity to parks, playground and bike share, an attached grocery store, indoor air quality policies, and units that minimize noise and maximize natural views.

The award builds on JLL Income Property Trust’s continued focus on sustainability, health and wellness, which was also recognized in 2020 through a three-star GRESB rating, and the one-star Fitwel certification of 180 N. Jefferson, a multifamily property in Chicago.

Created by the U.S. Centers for Disease Control and Prevention and U.S. General Services Administration, Fitwel certifies that buildings meet the health and wellness needs of the people who use them. Using a certified double-blind method created by health professionals, the certification accounts for factors in 12 categories such as location, indoor spaces, water supply and emergency procedures.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.5 billion in portfolio assets and 85 properties advised by LaSalle Investment Management, announced today the full subscription of JLLX Penfield, DST, a 1031 tax-deferred exchange offering designed to provide accredited investors with the opportunity to defer taxes on gains from the sale of appreciated real estate. Structured as a Delaware Statutory Trust (DST), the syndicated offering owns The Penfield, a highly amenitized, 254-unit apartment community in St. Paul, Minnesota. Investors in the DST defer the recognition of capital gains from the sale of their appreciated real estate, eliminate the responsibility of actively managing replacement properties, and participate in the cash flow and any future appreciation of The Penfield.

“We are extremely pleased by the market’s strong, positive response to JLLX Penfield,” said Allan Swaringen, President and CEO of JLL Income Property Trust, noting the offering was fully subscribed at a near record pace. “Since the launch of our market-redefining, core, daily NAV REIT program more than eight years ago, the most asked for solution from financial advisors has been a companion 1031 exchange offering, and the market’s rapid response to our offerings continues to exceed our expectations.”

The Penfield is a Class-A apartment community located in the heart of downtown St. Paul. The award-winning, transit-oriented, apartment community includes a ground-floor commercial space that is leased to a premier local grocer on a long-term basis. In 2020, The Penfield became the first apartment community in Minnesota to receive a Fitwel certification, receiving a two-star rating given its proximity to parks, playground and bike share, an attached grocery store, tobacco-free and indoor air quality policies, and units that minimize noise and maximize natural views.

This offering marks JLL Exchange’s (JLLX) fourth fully subscribed DST syndication. Those offerings represent the first 1031 programs offered by a daily-valued, perpetual NAV REIT advised by an institutional investment manager and sponsored by a leader in global real estate services. The JLLX program was created to offer private placements through the sale of interests in DSTs holding real properties sourced from JLL Income Property Trust’s portfolio or from third parties.

“We are delighted to have assisted JLLX Penfield DST investors in achieving their 1031 goals. We believe the offering’s high quality property, relatively low fees, and institutional management strongly appealed to high net worth clients,” said Drew Dornbusch, Head of the JLLX 1031 Platform.

Benefits of an Institutional 1031 Exchange Solution

• Institutional investment management platform and track record.
• Access to higher quality, larger and more broadly diversified property portfolio.
• Long-term investment solution for investors no longer wanting to actively manage real estate.
• Lower fees than typically charged to individual investors accessing the traditional 1031 marketplace

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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 LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT advised by LaSalle Investment Management (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.5 billion in portfolio assets and 85 properties, today announced the acquisition of Southeast Phoenix Distribution Center, a newly constructed, four-building, Class A distribution center totaling 474,000 square feet located in the Chandler submarket of Phoenix, one of the top warehouse markets within the greater Phoenix metroplex. The purchase price was $91 million.

“The broader industrial sector has proven to be resilient amid the pandemic and is on course to maintain its position as a winning property type for the foreseeable future,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “At 96 percent leased and with an average weighted lease term of more than eight years, we believe Southeast Phoenix Distribution Center, which is located in the 14th largest industrial market in the U.S., fits well within our objectives. We remain bullish on the industrial sector as the demand drivers have been stronger than any other major property type and rent growth has exceeded expectations in many markets, including Phoenix, despite an active supply pipeline.”

This investment is JLL Income Property Trust’s second industrial acquisition in the Phoenix market, having acquired the Chandler Distribution Center for $31 million in December of 2019. JLL Income Property Trust’s aggregate industrial allocation is nearly $980 million, or approximately 30 percent of its 85-property, $3.5 billion diversified core real estate portfolio which includes 38 industrial properties in 12 key markets throughout the country.

Southeast Phoenix Distribution Center fits well with JLL Income Property Trust’s thesis of investing in institutional-quality industrial assets located in close proximity to irreplaceable hubs of transportation. According to LaSalle Research & Strategy’s Core Target Market Ranking, Phoenix is a recommended industrial overweight market due to its strong returns outlook with demand consistently out-pacing supply over the past ten years.

Southeast Phoenix Distribution Center is optimally located at the confluence of the Interstate 10 and Loop 202 freeways that traverse the Southeast Valley and provide access to vast labor pools throughout metro Phoenix. The Southeast Valley has collectively been the target of more corporate relocations than any other region of metro Phoenix. The property is 15 minutes from Sky Harbor International Airport and 20 minutes from downtown Phoenix.

Constructed in 2019, the property has state-of-the-art features that accommodate a wide range of tenants, ranging from 20,000 square feet up to 135,000 square feet, and includes 32-foot clear heights, ESFR sprinkler systems, grade and dock-high doors, and full concrete truck courts with fencing.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle is delighted to announce that 60 London Wall, a 10-storey office development in the City of London, has received the prestigious BREEAM Outstanding sustainability rating.

The building, which was acquired on behalf of The California State Teachers’ Retirement System (‘CalSTRS’), provides exciting, Grade A office accommodation over 10 floors totalling 325,000 sq ft with flexible uses at ground floor. The floors range from 18,000 sq ft to 40,000 sq ft with terraces on five upper floors designed around a single atrium.

The embodied carbon of the building is 40% less than a typical new office building, as a result of reusing the existing sub-structure and part of the super structure. The building has four additional floors which step back to provide five stunning roof terraces with planters for occupiers to enjoy plus a green roof; all promoting biodiversity. The terraces and roof are ‘blue’ roofs; the most energy efficient way of installing a sustainable urban drainage solution.

At the same time, the operational energy performance of the building will be considerably lower than similar size buildings due to the energy efficient design of the building fabric and building services, exceeding the required energy performance of a new building significantly. The building envelope has been carefully designed to optimise energy performance with daylight and views out, including carefully considered non-visible fritted glass, to reduce solar gain.

Gary Moore, Fund Manager at LaSalle, said “The team has designed and delivered this stunning new office building and we are extremely proud to have achieved an ‘Outstanding’ BREEAM certification. We believe in delivering sustainable buildings to meet both the investor and occupier’s sustainability credentials and are confident this design and management will be integral to the future success of the asset.”

Julian Agnew, Head of and CIO for LaSalle Direct added: “Sustainability has been at the core of our investment and asset management strategy for some time, reflecting increasing tenant demand for outstanding work spaces that support employee health and wellbeing as well as the efficient utilisation of resources.”

BREEAM (Building Research Establishment Environmental Assessment Methodology) is the world’s leading design and assessment method for sustainable buildings. The rating for 60 London Wall was based on a number of factors including the building’s support for health and wellbeing, energy and water efficiency, use of materials. waste management, transportation and ecological features.

60 London Wall is designed by EPR Architects and constructed by Skanska on behalf of LaSalle and Citygrove Securities. LaSalle and Citygrove’s advisers include property consultants Gleeds and engineering consultants Mecserve. Knight Frank & JLL are leasing agents.

LaSalle is a signatory to the Better Buildings Partnership (“BBP”) Climate Change Commitment. The BBP comprises many of the UK’s leading commercial property owners who are working together to improve the sustainability of existing commercial building stock. LaSalle recently set out its pathway to a zero-carbon future, publishing its net zero carbon (NZC) strategy for Europe.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL (NYSE: JLL) has been again named to Fortune magazine’s World’s Most Admired Companies list. The list is a major authority on corporate reputations compiled each year by Fortune and Korn Ferry through a survey of 3,820 executives, directors and securities analysts. This year, JLL was recognized for social responsibility, global competitiveness and quality of management. 

“JLL’s purpose is to shape the future of real estate for a better world, working in close partnership with our clients and all our stakeholders,” said Christian Ulbrich, JLL CEO. “We are therefore very proud to again be included on Fortune’s list of the World’s Most Admired Companies.” 

LaSalle is a wholly owned subsidiary of JLL and is proud to share in this achievement.

Read more about this award on JLL.com

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) advised by LaSalle Investment Management with a portfolio valued at more than $3.3 billion, announced today the completion of multiple long-term lease extensions with investment grade tenants in its portfolio of 12 grocery-anchored shopping centers diversified across nine different states.

“One of the primary ways that JLL Income Property Trust generates predictable, attractive income for distribution to stockholders is through long-term lease agreements with higher credit tenants. We also continually strive to lengthen the weighted average lease term of the overall portfolio,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Negotiated during the depths of the pandemic, these two lease extensions highlight the relative stability and attractiveness of this high performing subsector of an overall challenged retail property market. It also highlights the underlying value of our investment strategy focused on acquiring high-quality, well-located grocery-anchored centers. Our conviction with this one format of retail properties remains high.”

JLL Income Property Trust retail anchor leasing highlights include:

• A 10-year lease extension with Kroger, a national grocery chain anchor tenant at Oak Grove Plaza in Sachse, Texas, an affluent suburb 20 miles northeast of Dallas. The 65,000-square-foot lease, originally set to expire in 2023, was renewed through 2033. The property is strategically situated in a high-growth and affluent residential corridor with strong demographics and above average household incomes. LaSalle Research & Strategy’s proprietary Supermarket Trade Area Ranking System (STARS), which analyzes over 40,000 grocery-anchored centers nationwide based on spending power and competition in each trade area, ranks Oak Grove Plaza in the 88th percentile. With annual sales of over $120 billion, Kroger is America’s largest grocer and the second largest general retailer.
• A 10-year lease extension with Smith’s at Montecito Marketplace in Las Vegas. The lease, originally set to expire in 2025, secures the anchor grocery tenant in its 65,000-square-foot space through 2035. The fully-leased center is part of the larger 330-acre Montecito Town Center, benefitting from close proximity to several large employers and strategic location just off the I-95/I-215 interchange with visibility to an estimated 52,000 vehicles per day. LaSalle Research & Strategy gives Montecito Marketplace a 91st percentile STARS rating. Smith’s is America’s oldest grocer West of the Mississippi.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT advised by LaSalle Investment Management (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced today the full subscription of JLLX San Marcos DST, a 1031 tax-deferred exchange offering designed to provide accredited investors with the opportunity to defer taxes on gains from the sale of appreciated real estate.

Structured as a Delaware Statutory Trust (DST), the syndicated offering owns Summit at San Marcos, a highly amenitized 273-unit apartment community in the prominent Phoenix suburb of Chandler, Arizona. Investors in the DST defer the recognition of capital gains from the sale of their appreciated real estate, eliminate the responsibility of actively managing replacement properties, and participate in the cash flow and any future appreciation of Summit at San Marcos.

Summit at San Marcos is a Class-A apartment community located at the intersection of several of Arizona’s most prominent thoroughfares providing access to the Greater Phoenix area with multiple centers of employment. The property is also located in the highly desirable Chandler Unified School District which is rated No. 1 in the Phoenix area and No. 2 in all of Arizona by Niche. LaSalle’s Research & Strategy Group ranks the Phoenix metro area the No. 2 market for projected apartment rent growth.

This offering marks JLL Exchange’s (JLLX) second fully subscribed DST syndication, following the full subscription of Johns Creek in June 2020. Together, these two DSTs represent the first 1031 programs offered by a daily-valued, perpetual NAV REIT advised by an institutional investment manager and sponsored by a leader in global real estate services. The JLLX program was created to offer private placements through the sale of interests in DSTs holding real properties sourced from JLL Income Property Trust’s portfolio or from third parties.

“We are extremely pleased by the market’s strong, positive response to JLLX San Marcos,” said Allan Swaringen, President and CEO of JLL Income Property Trust, noting the offering was fully subscribed at a near record pace. “Since the launch of our market-redefining, core, daily NAV REIT program more than eight years ago, the most asked for solution from financial advisors has been a companion 1031 exchange offering, and the market’s rapid response to our two initial offerings has exceeded our expectations.”

“We are delighted to have assisted JLLX San Marcos, DST investors achieve their 1031 goals. We believe the offering’s high quality property, relatively low fees, and institutional management strongly appealed to high net worth clients during the uncertainty of this pandemic,” said Drew Dornbusch, Head of the JLLX 1031 Platform.

Benefits of an Institutional 1031 Exchange Solution

• Institutional investment management platform and track record.
• Access to higher quality, larger and more broadly diversified property portfolio.
• Long-term investment solution for investors no longer wanting to actively manage real estate.
• Lower fees than typically charged to individual investors accessing the traditional 1031 marketplace

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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. For more information, visit www.jllipt.com.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

JLL Income Property Trust, an institutionally managed daily NAV REIT advised by LaSalle Investment Management (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the acquisition of Siena Suwanee Town Center, a 240-unit, luxury apartment community in the affluent north-Atlanta suburb of Suwanee, Georgia. The purchase price was approximately $70 million.

Suburban Atlanta is a recommended portfolio “overweight” and is ranked within the top quartile of LaSalle’s Research & Strategy Group’s proprietary market tracking database. Atlanta-area apartment investments have outperformed overall U.S. apartments within the NCREIF institutional index over 1, 3, 5 and 10-year periods. Sienna Suwanee Town Center is complemented by JLL Income Property Trust’s 2017 acquisition of The Reserve at John’s Creek Walk, a 210-unit Class A apartment community located in Johns Creek, less than 10 miles away. This northeast Atlanta submarket ranks favorably due to above market population and job growth, ranking 12th out of 150 U.S. cities in forecasted employment growth over the next four years.

Constructed in 2018, Sienna Suwanee Town Center features luxury unit finishes and provides residents with a robust community amenity package including a salt-water resort style pool and 24-hour multipurpose fitness center. The community also has desirable live/work/play features and is walking distance to numerous retail stores and restaurants, in addition to local community parks.

“This addition to our growing apartment portfolio fits extremely well with our suburban strategy to invest in amenity-rich, newer communities located in highly-rated school districts with high barriers to entry for new competition,” noted Allan Swaringen, JLL Income Property Trust President and CEO. “This investment brings our aggregate apartment allocation to over $1 billion, with 3,842 apartment units across 16 communities representing 33 percent of our $3.3 billion, 82-property portfolio. Our unique UPREIT structure along with our diversified portfolio and daily valuation were attractive to the sellers who chose to contribute this property in exchange for interests in our fund rather than selling for cash. This provided the owners of Sienna Suwannee a tax efficient sale with the benefit of long-term estate planning while allowing our fund to make a strategic acquisition with no cash outlay.”

The Gwinnett County area features schools rated A- by Niche.com and are Silver rated by LaSalle’s research group. The area’s high school ranks among the top 2 percent in the country. Historically, apartment communities located in areas featuring a combination of top household incomes and highly rated school districts have outperformed the broader apartment market. These communities tend to have restrictive apartment development policies creating strong barriers to entry.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is pleased to announce the establishment of the LaSalle Real Estate Scholarship for Black and Latino/a students. The scholarship program establishes a five-year, $100,000 per year commitment to provide rising Black and Latino/a college sophomores the opportunity to receive $10,000 toward their education. It will also include programmatic mentorship meetings with LaSalle executives designed to educate the scholarship recipient on careers in real estate investment management and the real estate industry in general.

The ultimate goal of the Program is to provide the recipients with the opportunity to apply for an internship at LaSalle, and with the express objective of being well-prepared to seek opportunities for full-time employment in the real estate sector upon graduation.

LaSalle is initially partnering with four academic institutions, including some of the top Historically Black Colleges and Universities (HBCU) in the U.S.:

• Roosevelt University
• Morehouse College
• Spelman College
• Florida A&M University

LaSalle plans to expand its partnerships with HBCUs and other academic institutions in the years ahead.

Students who receive the scholarship will have a minimum 3.0 GPA and will be required to attend four quarterly meetings, either virtually or in-person, including an investment committee meeting and a quarterly townhall. Additionally, each student will be matched with a senior leader of the firm, who will provide mentorship and help guide them through an introduction to the real estate profession.

Jason Kern, LaSalle Chief Executive Officer of the Americas, said: “It is our strong belief that racial and all other forms of diversity at all levels of our organization, and in society at large, will lead to a better future. As a whole, the real estate and financial services industry has lagged its peers, but at LaSalle we pride ourselves on being at the forefront of positive, meaningful change in the diverse makeup of our industry.”

Alfreda Delle, Deputy Portfolio Manager of LaSalle Property Fund, added: “Providing Black and Latinx students the opportunity to gain exposure to real estate and financial services professions at a young age is critical to expanding their career opportunities. These professions have historically not been seen as accessible to these populations, and with this scholarship, we’re putting the institutional strength and resources of LaSalle behind an effort to change that.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) today announced its U.S. Transactions Group has added veteran experience with the hiring of Brett Hopkins as Acquisitions Officer. Brett joins LaSalle from Torchlight Investors where he was a senior member of the acquisitions and originations team responsible for sourcing equity and high-yield debt opportunities.

In his new role at LaSalle, Brett will work with Portfolio Managers across the firm’s U.S. funds to identify accretive investment opportunities and enhance the firm’s growth. He will focus primarily on office, medical office, life sciences and retail opportunities in the Mid-Atlantic and Northeast regions.

Brett brings 18 years of experience and expertise in a range of property sectors across the risk spectrum. He is also well versed in structured finance, including senior, mezzanine, preferred and join-venture equity investments during his time at Torchlight. Prior to his time at Torchlight, Brett spent more than seven years at True North Management Group where he sourced and closed debt and equity investments across various property types throughout the Southeast. He holds a BS in Business Administration from Richmond University and has an MBA from The University of North Carolina Kenan-Flagler Business School.

Brad Gries, Head of LaSalle U.S. Transactions Group, commented, “We are excited to welcome Brett to our team of experienced investment professionals. I am confident that he will be a great addition to our strong culture of industry expertise, judgement and discipline that has set LaSalle apart as an industry leading investment manager. I look forward to Brett continuing to enhance the portfolio we have successfully built on behalf of our clients.”

Brett Hopkins, Acquisitions Officer for LaSalle’s U.S. Transactions Team added, “I am proud to join LaSalle’s rich tradition of excellence and look forward to building on the firm’s successes. With the current market environment and with deep and diverse capital available, it’s an exciting time to identify attractive investments on behalf of our clients.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) today announced it is supporting the American Red Cross by hosting blood drives across its U.S. property portfolio through 2021. This is especially important as hospitals resume surgical procedures and patient treatments that were temporarily paused earlier this spring in response to the COVID-19 pandemic.

This initiative aligns with LaSalle’s broader sustainability program, which focuses in part on supporting the communities in which it operates. The collaboration intends to roll out blood drives at approximately 70 LaSalle properties across the U.S. through 2021. This represents the first time a national commercial real estate business has teamed up to provide use of space across multiple buildings for blood drives to advance its lifesaving mission at scale.

Jason Kern, Americas CEO at LaSalle Investment Management, said: “This innovative collaboration with the American Red Cross is a terrific demonstration of our sustainability program in action. We are able to use our national infrastructure to help replenish the blood supply that is essential to saving lives. The need is especially important now, as the COVID-19 crisis has disrupted blood donations. We’re honored to work with the Red Cross and take the lead on behalf of the commercial real estate industry to support this cause and look forward to lending our ongoing support.”

Kamenna Lee, Vice President Biomedical Services Marketing at American Red Cross, added: “Due to the closure of college campuses, schools and many businesses moving to work-from-home operations amid this pandemic, the Red Cross has seen a significant decrease in blood donations from locations where we ordinarily collect 80% of our blood supply. We are grateful for the support of organizations like LaSalle who have stepped up to offer new donation opportunities where donors can make the lifesaving gift of blood. LaSalle will allow tenants and residents at its properties to make blood donations in a familiar environment, helping save lives in such a critical time.”

The blood drives hosted at LaSalle properties will launch in the third quarter of 2020. Individuals interested in donating blood must present either an American Red Cross donor ID card or an acceptable primary form of ID, additional eligibility criteria apply. For more information on requirements and blood donations, please visit www.redcrossblood.org.

About the American Red Cross

The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies about 40 percent of the nation’s blood; teaches skills that save lives; provides international humanitarian aid; and supports military members and their families. The Red Cross is a not-for-profit organization that depends on volunteers and the generosity of the American public to perform its mission. For more information, please visit redcross.org or cruzrojaamericana.org, or visit us on Twitter at @RedCross.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

To Our Valued Clients and Partners: The COVID-19 pandemic has created massive and rapidly changing challenges and disruptions for our communities, healthcare systems and economies. At this point in time, no one definitively knows the extent and duration of the pandemic or the resulting negative impacts on economies and investment markets. In this environment, we believe clear and frequent communication to all of our stakeholders is very important, and we wanted to provide you with a brief update on our assessment of the situation and the steps we are taking to ensure that we can navigate through these disruptions as effectively as possible.

Our immediate priority is to support the health and well-being of our employees and their families, clients, business partners and the communities where we operate. We are keenly focused on managing our business responsibly around the world and are guided by the latest information available from leading health authorities.

Given the global spread and rapidly expanding nature of COVID-19, we have implemented several elements of our Business Continuity Plan (BCP) including our remote work policy across all regions where we operate. We have been successfully operating under this policy in parts of Asia for over six weeks and have expanded it to other regions given the spread of the virus and actions national and local governments are taking in response. Our remote work capabilities are fully supported by an infrastructure that enables seamless access to our systems in a secure environment and communication across offices via a variety of web-enabled audio, video and written platforms. We are prepared to operate continuously for an extended period if required. We have also revised our employee travel policies in alignment with the guidance of global health and travel organizations to ensure we play our part in mitigating the potential further spread of this pandemic.

All of our investment, portfolio, and asset management teams are working closely with our research and strategy teams and third-party service providers to assess likely impacts on the investments we manage on your behalf and to ensure services are being delivered to tenants at the property level. Our Investment Committees and Risk Management Committees are meeting regularly to receive input from our on-the-ground sources and to provide feedback as to recommended actions. The global reach of our firm is channeling important insights from around the world to inform decision making across our portfolios.

While each market disruption is unique and the COVID-19 virus presents its own set of challenges, we have learned from experience that it is important to focus on maintaining liquidity and continuity of tenant income during these times. It is also important to increase the scope and frequency of our risk monitoring reviews, perform “what if” scenarios across a much broader range of potential economic outcomes, and to shift economic, occupancy, and rental growth forecasts to reflect changing circumstances. Finally, knowing that the pandemic will eventually subside and that disruptions create opportunities, we are also evaluating how things may play out in the medium to longer term and how to take advantage of likely opportunities to drive investment performance.

At the portfolio and property level, we remain focused on preserving value and actively managing our assets to minimize any short to medium-term impact created by COVID-19. Our Asset Management teams maintain constant communication with property staff and tenants to ensure the necessary preventative and reactionary protocols are in place. Given the scale of our 900 plus person platform, our teams have access to critical market information around the world and are sharing best practice insights in real time.

We continue to monitor the situation on a daily basis and will adjust our strategies as necessary. You should not notice any change to the level of service from our team, and we are committed to being transparent and proactive in our dialogue with you. We will provide you with regular updates of our assessments and views in the weeks and months ahead. Please continue to speak with your normal LaSalle contact should you have any questions or comments, and we wish good health and safety for everyone affected by this situation.

Sincerely,

Jeff A. Jacobson
Global Chief Executive Officer
LaSalle Investment Management

This communication may contain forward-looking statements with respect to LaSalle Investment Management. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements.

© 2020 LaSalle Investment Management. All rights reserved

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle” or “the company”) today announced it has renamed its U.S. debt fund platform to LaSalle Debt Investors (“LDI”). LaSalle completed the acquisition of LDI’s $1.2 billion debt fund business, known previously as Latitude Management Real Estate Investors, in January 2019.

Following a successful integration into LaSalle’s Americas business in 2019, LDI continues to execute its strategy of originating new bridge loans for value-add and transitional properties in sustainable growth markets throughout the United States.

LDI has managed a series of commingled debt funds, the fourth and most recent having a total equity raised of approximately $480 million. LDI’s cycle-tested management team and vertically integrated platform has supported LDI’s ability to close over $4.5 billion in transactions across all primary commercial real estate property types. LaSalle Debt Investors seeks to generate favorable risk-adjusted returns for investors by targeting middle market bridge loans to experienced sponsors with business plans that generate increasing operating income through value-add capital improvements, leasing strategies, and active asset management.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) announced that it has acquired the Overlook at Bernardo Heights, a 330-unit multifamily property located in the affluent Rancho Bernardo submarket of San Diego, California. LaSalle acquired the asset on behalf of its U.S. core open-end real estate fund, LaSalle Property Fund (“LPF”).

Overlook at Bernardo Heights features convenient access to major employers in the San Diego metro area including Sony, General Atomics, Bae Systems, HP and Northrop Grumman, as well as top-rated schools as measured by Niche.com. LaSalle believes operating fundamentals of the submarket remain favorable due to a variety of demand drivers combined with a lack of new supply and high barriers to entry.

Built in 1987, Overlook at Bernardo Heights also presents the opportunity to renovate unit interiors and upgrade common areas to capture higher rents. Brokerage services for the transaction were provided by Moran & Company.

Jim Garvey, Portfolio Manager for LaSalle Property Fund, commented: “LPF is pleased to have increased its exposure to the San Diego market through its acquisition of Overlook at Bernardo Heights. We believe this investment is a good fit with LPF’s strategy to invest in high quality multifamily properties that are both located in top markets and offer the potential to be further enhanced through a modest renovation program.”

Summit Walia, Managing Director of Acquisitions at LaSalle, commented: “The Rancho Bernardo submarket along the I-15 corridor of San Diego is a great location to own multifamily property for a variety of reasons, including the quality of its schools and access to employment and outdoor recreational activities. San Diego’s outsized population and job growth combined with the submarket’s high barriers to entry makes this a compelling investment with meaningful upside potential.”

About LaSalle Property Fund

LPF invests in and manages a diversified portfolio of high quality, stabilized real estate and real estate-related assets in the industrial, multifamily, office and retail sectors in top markets across the United States. Drawing from LaSalle Investment Management, Inc.’s 40-year record of accomplishment of core real estate investment on behalf of sophisticated institutional investors, LPF aims to provide attractive risk-adjusted income returns with the potential for superior long-term capital growth through an investment process and platform that leverages LaSalle’s industry-leading market research.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce that it has provided a senior loan facility to the Manhattan Loft Corporation to finance Manhattan Loft Gardens, a high-rise tower in Stratford, from the LaSalle Real Estate Debt Strategies III (“LREDS III”) fund.

Situated between the Queen Elizabeth Olympic Park and Stratford International Station, Manhattan Loft Gardens is a fully glazed, 42-floor residential tower, incorporating both residential and hotel uses and comprising three sky gardens and a level of amenities surpassing any existing residential scheme in Stratford. The property’s unique double-cantilevered structure was designed by SOM, the world-renowned high-rise architects.

The hotel, which is operated under “The Stratford” brand, is located between the ground and seventh floors and comprises of 146 rooms. The residential scheme provides 248 high-specification residential units, predominantly one- and two-bedroom flats, situated between the eighth and forty-first floors. All residents will benefit from the hotel facilities and services, including a fully equipped gym and dry spa.

Daniel Pottorff, Managing Director of Debt Investments and Special Situations at LaSalle, said: “We’re delighted to have provided a financing solution to Manhattan Loft Corporation for one of London’s most innovative and unique new-build residential towers, extending our track record of lending against quality assets with best-in-class sponsors.”

Amy Klein Aznar, Head of Debt Investments and Special Situations at LaSalle, added: “We have been large and consistent financiers in UK residential and our Manhattan Loft Gardens financing is in line with our residential debt investment strategy focused on urban growth areas near transportation nodes. Previously we have lent on projects such as the nearly-completed City North Development on Finsbury Park tube station, by Telford Homes and Business Design Group, and we have financed over £650million over the past several years in UK residential across our LREDs and LRF series. This loan represents the 15th deal completed by LREDS III since 2017 and, with transactions in documentation, will bring deployment to c.90 per cent of commitments.”

Through the LREDS III fund, LaSalle’s Debt Investments and Special Situations team invests across Western Europe lending against assets that offer compelling risk-adjusted returns across mezzanine and whole loan investment opportunities. The fund closed in late 2017 and attracted a diverse mix of investors from Europe, the Middle East, Asia and the United States.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is pleased to announce that Stuart Sziklas will join the firm as the Head of U.S. Custom Accounts, effective September 3, 2019. Mr. Sziklas will be based in LaSalle’s global headquarters in Chicago, report to Americas CEO Jason Kern and join the Americas Advisory Board, as well as the Americas Investment Committee.

Mr. Sziklas’s appointment coincides with the transition of Karen Brennan to CEO of LaSalle’s European business.

In this role, Mr. Sziklas will lead the team of portfolio managers for LaSalle’s U.S. Custom Accounts clients, responsible for actively managing portfolios of office, retail, multifamily and industrial investments located throughout the U.S., while delivering investment performance that meets or exceeds objectives. Working closely with LaSalle’s Transactions, Asset Management, Research & Strategy, Client Accounting and Client Capital Group, he will oversee the development and execution of individual portfolio strategies including selection of new investments, key property-level initiatives, financing strategy, and hold / sell decisions.

Mr. Sziklas brings more than 20 years of industry experience to LaSalle, having served in a variety of portfolio management, acquisitions and asset management roles. Most recently he served as Senior Managing Director, Portfolio Manager at CBRE Global Investors, where he was responsible for overseeing large-scale separate account mandates spanning 11 million square feet with an aggregate value of $3.5 billion.

Prior to CBRE Global Investors, Mr. Sziklas was a member of the asset management group of Beacon Capital Partners, a Portfolio Manager for CBRE New England, and a Director of Property Management for Aetna Inc’s Corporate Real Estate group.

Jason Kern, LaSalle Americas CEO, said: “I am excited to welcome Stu onto my senior management team as the next leader of our U.S. Custom Accounts business. With his broad-based experience and extensive background working across property types and the risk spectrum, he has the right mix of skills to help continue LaSalle’s track record of delivering strong investment performance for our clients. I am confident that Stu will be an excellent cultural fit and a terrific addition to our firm.”

Stuart Sziklas, Head of U.S. Custom Accounts, commented: “I am excited to join LaSalle during a period of substantial growth, and look forward to helping build upon the firm’s impressive track record of investment performance. LaSalle’s strong reputation and platform capabilities are a testament to the quality of its people, and I look forward to working closely with colleagues around the world to help advance the firm’s objectives.”

About LaSalle’s U.S. Customs Accounts Group

Custom Accounts is LaSalle’s U.S. separate account business with approximately $10 billion of assets under management. LaSalle’s U.S. Custom Accounts team designs and executes mandates with the appropriate risk-return balance based on investment objectives established through dialogue with its clients. Each program is tailored by property type, geography, target returns, use of leverage, risk profile and liquidity needs. All accounts are managed by experienced Portfolio Managers supported by teams of real estate professionals that represent a complete range of skills including research and strategy, acquisitions, due diligence, asset management, client services and accounting. Mandates cover core, value-add and opportunistic investment strategies, and can encompass a single sector and strategy or a more diversified approach. The separate accounts are invested across the main property sectors, including office, industrial, retail, and residential.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

The team working on the Sixty London Wall construction project hosted a topping out ceremony at the development.

This crucial milestone was marked with a traditional ceremony, attended by LaSalle Investment Management, Citygrove and members of the design and construction team.

The topping out event was celebrated with a final pouring of concrete, in a rooftop ceremony.

The existing structure is being comprehensively remodelled and refurbished, with Skanska demolishing part of the building before adding four new floors, to take the building up to 11 storeys. The mixed-use commercial and retail development in the City of London is due to complete in June next year.

Gary Moore, Head of International Accounts at LaSalle, said: “The project team are doing an excellent job and the topping out of London Wall is an important milestone in the creation of an excellent investment for our client.” 

Tony Boorer, Project Director, commented: “Once complete, this building will have five floors of terraces with stunning views of London. The internal spaces will be of high-quality with a contemporary modern design. It also contains ground floor and basement level retail space”.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) today announced that its U.S. value-add fund series, LaSalle Income & Growth, has acquired 4 Hutton Centre, a 216,864-square-foot office building in the Airport submarket of Orange County, California. This transaction presented a unique opportunity to acquire a well-located, well-maintained office building with significant upside potential through the addition of tenant amenities, a lobby upgrade and lease-up that will further position the property as a Class-A office building.

4 Hutton Centre is 80% occupied by a diverse mix of 21 tenants with a short weighted average lease term of 2.9 years allowing the fund to immediately benefit from property improvements. The property is situated in the Hutton Centre mixed-use campus, directly west of Freeway 55 and north of Interstate 405, providing great visibility, access to surrounding amenities, and direct, virtually non-stop access to the John Wayne Airport. The 10-story property was renovated in 2008 and 2012, and has been well-maintained by previous ownership, but provides a compelling opportunity to upgrade common areas and add amenities to further enhance its appeal.

Joe Munoz, Chief Investment Officer for LaSalle’s Income & Growth Funds, commented, “The acquisition of 4 Hutton Centre is a great fit for our portfolio, and aligns with our objective to reposition well-located office properties to core assets through our active asset management program. Office property fundamentals in the Airport submarket continue to strengthen, and we expect demand to continue to exceed supply in support of income growth.”

Erick Paulson, Managing Director of Acquisitions at LaSalle, stated, “4 Hutton Centre offers many favorable characteristics, including close proximity to transportation nodes, executive housing, John Wayne Airport, and a strong amenity base. The Orange County office market continues to strengthen with steady growth from technology, healthcare and financial services, providing diversification that was not present in the submarket during the previous real estate investment cycle.”

Orange County is a strategic location between Los Angeles and San Diego, with convenient access to major cities and attractions throughout Southern California. It boasts a population of 3.5 million whose residents are characterized as some of the most affluent and highly educated in the nation. The market’s corporate base includes headquarters of ten Fortune 1,000 companies representing a variety of industries such as technology, tourism, healthcare, and financial services.

About LaSalle Income & Growth Funds

The LaSalle Income & Growth funds are the firm’s flagship closed-end U.S. value add fund series, with the first fund in the series launched in 1996. Aggregate fund series capital commitments total $3.6 billion, with approximately $12.4 billion in total transactional volume across all funds in the U.S. series. The fund seeks to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. Property level-investment strategies include lease-up, renovation/repositioning and selective ground-up development.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) is proud to announce that it has received the 2019 ENERGY STAR® Partner of the Year Award for its outstanding leadership and demonstrated improvement in energy performance of commercial buildings through a portfolio-wide energy program.

Additional information on LaSalle’s Partner of the Year award can be found here: https://www.energystar.gov/about/content/la_salle_investment_management.

The firm’s accomplishment will be recognized by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy at a ceremony in Washington, D.C. on April 11, 2019.

Eric Duchon, Global Head of Sustainability at LaSalle commented: “This award reflects LaSalle’s continued emphasis on implementing energy efficiency best practices and measures across our business, making our portfolios more environmentally-friendly and resilient, while continuing to deliver superior investment performance for our clients.”

Bill Wehrum, EPA Assistant Administrator for Air and Radiation added: “I applaud LaSalle for earning the ENERGY STAR Partner of the Year Award. Their innovation and leadership enhance America’s economic competitiveness. Reducing costly energy waste improves air quality and public health while protecting the environment.”

The ENERGY STAR Partner of the Year award recognizes ENERGY STAR partner businesses and organizations that demonstrate superior leadership, innovation, and commitment to environmental protection through energy efficiency and ENERGY STAR. For more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.

This achievement adds to LaSalle’s track record of sustainability best practices and distinctions. Industry organizations continue to recognize LaSalle for sustainability leadership and maintaining its distinction as an employer of choice. LaSalle has received the following U.S. and global awards in the past year:

• GRESB, UN Principles for Responsible Investment, Task Force on Climate-Related Financial Disclosure
• Green Lease Leaders
• ENERGY STAR Charter Tenant
• P&I Best Places to Work in Money Management

About ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped save American families and businesses nearly 4 trillion kilowatt-hours of electricity and achieve over 3 billion metric tons of greenhouse gas reductions. In 2017 alone, ENERGY STAR and its partners helped Americans avoid $30 billion in energy costs. More background information about ENERGY STAR can be found at: energystar.gov/about and energystar.gov/numbers.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) today announced that its U.S. value-add fund, LaSalle Income & Growth Fund VII (“Fund VII”), has acquired Rienzi at Turtle Creek, a 152-unit high-rise rental apartment community in the affluent Turtle Creek submarket of Dallas, Texas. LaSalle identified this as a unique opportunity for Fund VII to acquire a high-quality multifamily asset in a strategic market known for its strong population and job growth.

Joe Munoz, Chief Investment Officer for LaSalle’s Income & Growth Funds, commented, “Rienzi at Turtle Creek aligns well with the investment strategy of our U.S. value-add fund series, and we’re thrilled to add this property to the Fund VII portfolio. This transaction offers a compelling opportunity for us to acquire a well-located, high-quality multifamily asset at a discount to replacement cost and execute a thoughtful capital improvement plan to realize upside potential.”

Summit Walia, Managing Director of Acquisitions at LaSalle, stated, “Rienzi at Turtle Creek was particularly attractive to us in that it was originally constructed as a condominium, offering condo-level finishes and amenities at competitive rental rates. By addressing deferred maintenance and completing renovations to the common areas and unit interiors, we believe we can deliver a desirable product that drives rent growth while offering rates that represent a significant discount to those at comparable new construction high rises in the area.”

Built in 2002, Rienzi at Turtle Creek features large floor plans averaging 1,300 square feet and boasts attractive finishes including 10- to 12-foot ceilings, extra-large walk-in closets, granite countertops, recessed lighting, hardwood flooring, crown molding and balconies in the majority of units. Community amenities include a swimming pool and spa; a fully equipped 24-hour fitness center; a garden terrace with grilling area; an on-site dog park; concierge services; controlled garage access; and valet parking. The property is located in close proximity to major employment centers – including Uptown and Downtown Dallas, Medical District, Baylor University Medical Center and Dallas Love Field – as well as abundant entertainment and retail options including Reverchon Park, Knox Henderson and The Shops at Park Lane. The adjacent Uptown neighborhood has also seen significant development in recent years, with an additional 2.3 million square feet in office development due to deliver by 2020, which has resulted in an influx of new retail and restaurant amenities.

The Dallas-Fort Worth (“DFW”) Metroplex is a thriving metropolitan area with a population of 7.4 million, that boasted a gross metro product (“GMP”) of $535 billion in 2017, marking a 6.3 percent increase on its GMP in 2016, according to Federal Reserve Economic Data. The DFW Metroplex boasts strong job growth, having added 109,400 jobs between October 2017 and October 2018, and the metro is home to several Fortune 500 companies including Exxon Mobil, AT&T, American Airlines, Tenet Healthcare, Southwest Airlines, Kimberly-Clark, Texas Instruments, D. R. Horton, Dean Foods and Dr. Pepper Snapple, among others. The robust population size combined with sustained job growth and strong presence of top corporations support Dallas’ multifamily market and drive consistent demand for high-quality product.

About LaSalle Income & Growth Funds

The LaSalle Income & Growth funds are the firm’s flagship closed-end U.S. value add fund series, with the first fund in the series launched in 1996. Aggregate fund series capital commitments total $3.4 billion, with approximately $6 billion invested in over 100 investments across all funds in the U.S. series. Fund VII seeks to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. Property level-investment strategies include lease-up, renovation/repositioning and ground-up development. Fund VII began acquiring assets in 2016.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) today announced the completion of the new 110 High Street Lobby project within 50 Post Office Square (50 PO), an iconic Class A office tower located in Boston’s Financial District. Following its purchase of 50 PO in 2015, the firm embarked on a multi-faceted capital enhancement plan that has delivered a dynamic new lobby and High Street entrance designed by Elkus Manfredi Architects, and features a first-of-its-kind 100-foot digital Boston Media Band Experience that is programmed with three digital art modes that react to traffic in the lobby in a variety of fun and interactive ways. Created by ESI Design, the media band is designed to extend the experience of the building into the street, while simultaneously bringing the energy of the city inside.

At 110 High Street, LaSalle recently signed a 117,000 square foot lease with Medidata Solutions (NASDAQ: MDSO), a global life science technology company. Members of Medidata’s SHYFT Analytics division will immediately occupy the space. SHYFT Analytics is the leading platform for commercial and real-world data analytics with products designed specifically for the pharmaceutical, biotech, and medical device industry. Medidata and SHYFT have plans to continue to grow in Boston. The building’s occupancy now stands at 100%.

Dave Martel and Gil Dailey of Newmark Knight Frank represented LaSalle, and Lisa Kiell and Kelly Lockberg of JLL represented Medidata Solutions for the lease agreement.

Kristy Heuberger, Head of U.S. Asset Management at LaSalle, commented: “We are very pleased that our 50 Post Office Square/110 High Street building has been able to capture both Boston’s rich history and bright future through its diverse tenant base and unique designs. We are equally excited to welcome our new tenant Medidata and SHYFT to 110 High Street as well, as they will bring a vibrant presence and energy that will complement the building’s marquee location in the Financial District.”

Mark Sardegna, Principal at Elkus Manfredi Architects, added: “Elkus Manfredi Architects is honored to contribute to the re-invention and newest chapter of this majestic Art Deco icon. This new environment blurs the lines between indoor and outdoor to showcase the interactive media experience and engage the tenants, visitors and the community. It’s a project that embraces history while stepping with confidence into the future of our city.”

Edwin Schlossberg, President & Principal Designer of ESI Design, said: “Our goal at 110 High Street was to transform this iconic building’s new entrance into a unique experience. The Boston Media Band centers on the flow of the city and activates the lobby, plaza, and surrounding streetscape with movement and personality. The first and largest installation of its kind in Boston, it responds to the presence of people with moments of surprise and delight. By breaking the barrier between inside and outside, the installation broadcasts the building’s new identity to the street and draws people in.”

LaSalle Investment Management acquired 50 Post Offi­ce Square in December, 2015 on behalf of a U.S-based separate account client. When underwriting the opportunity to acquire the property, the company saw it as a high-quality, substantially-renovated historic offi­ce tower that is exceptionally well located in the Boston CBD’s Financial District within immediate proximity to South Station, numerous area amenities and overlooking a popular and heavily-tra­cked public park. The property offered a compelling value enhancement opportunity to fully renovate the building’s second lobby, at 110 High Street, as a means to lease the remaining 19% of low-rise vacancy.

Originally built in 1947, the building’s high-quality, Art Deco design had great bones and structure to pursue an innovative renovation that would attract large tenants in today’s evolving business landscape. LaSalle crafted and embarked on a renovation plan with a vision to create a building within a building. The new entrance would have its own identity and offer access on the High Street side of this highly recognized building.

LaSalle partnered with best-in-class vendors to execute the re-imagined 110 High Street Lobby, including:

Architecture

Elkus Manfredi Architects

Development Services

Turner Construction
JLL

Boston Media Band Experience

ESI Design
Electrosnoic

Additional Partners

Dimensional Communications, Inc
AV&C
Arbitrarily Good Productions
Halvorson Design Partnership
McNamara / Salvia, Inc.
C3 – Commercial Construction Consulting, Inc.
Van Deusen Associates (VDA)

About Elkus Manfredi Architects

Elkus Manfredi Architects is a full-service international design practice focused on architecture, master planning, urban design, historic preservation and interior architecture. Its diverse portfolio of work includes planning and design for environments of work, living, learning, play, and innovation. The firm has a legacy of design excellence and is recognized worldwide for its work in mixed-use place-making that fosters community, connection, sustainability and strategic workplace solutions. For more information, visit https://www.elkus-manfredi.com/, and Facebook, Twitter, Instagram, and LinkedIn.

About ESI Design

ESI Design transforms places into dynamic experiences that engage audiences, solve complex challenges, and deliver lasting results. From our roots reinventing the Brooklyn Children’s Museum into one of the country’s first interactive museums, ESI Design has defined the field of experience design for over forty years, fundamentally changing how people connect with brands, organizations, cultural institutions and, most importantly, each other. A collaborative, in-house team of designers, strategists, storytellers, technologists, artists, and problem-solvers work with you from day one, until it’s done. ESI Design seamlessly weaves the physical and digital worlds together to create immersive experiences with enduring impact. Recent clients include eBay, the Ellis Island National Museum of Immigration, Comcast, PNC Bank, Beacon Capital Partners, and the Edward M. Kennedy Institute for the U.S. Senate. For more information, connect with ESI Design: Twitter, LinkedIn, Facebook, Vimeo, YouTube and Instagram. (www.esidesign.com)

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) and William Macklowe Company (“WMC”) announced that they have completed a long-term lease agreement with Memorial Sloan Kettering for 100% of the approximately 75,000 square feet of space at 333 E. 61st Street, a new six-story medical office building located in Manhattan’s Upper East Side.

In March of 2018, LaSalle acquired a majority interest in the property through a joint venture with WMC on behalf of its U.S. core open-end real estate fund, LaSalle Property Fund (“LPF”).

Steve Bolen, Managing Director and U.S. Sector Head for Medical Office at LaSalle, commented: “We are pleased to have Memorial Sloan Kettering Cancer Center, a world leader in the diagnosis and treatment of cancer, as the entire-building tenant at 333 East 61st Street. This project represents a continuation of our successful healthcare real estate partnership with the William Macklowe Company, a leading owner/developer of commercial, healthcare and residential properties in New York City.”

Billy Macklowe, CEO of William Macklowe Company, commented: “We are thrilled to meet the deep demand for high quality medical facilities in one of the most supply constrained sub-markets in the country, and be aligned with a world class institution such as Memorial Sloan Kettering Cancer Center. 333 East 61st Street follows our successful conversion of 156 William Street into lower Manhattan’s premier dedicated medical office building and continues our co-investing relationship with LaSalle Investment Management.”

Jim Garvey, Portfolio Manager for LaSalle Property Fund, commented: “333 East 61st Street is an exceptional fit for our portfolio, enabling LPF to increase its exposure to class A medical office in top markets. This investment directly aligns with our strategy of owning well-located core assets that offer stable cash flows and upside potential.”

Situated in what is commonly referred to as “Hospital Row,” the immediate trade area contains some of the world’s most prestigious hospitals, medical schools, research centers and outpatient facilities, including New York-Presbyterian Weill Cornell Medical Center, Weill Cornell Medical College, Memorial Sloan Kettering Cancer Center, Hospital for Special Surgery and Rockefeller University. The new 75,000-square-foot medical facility will replace the existing structure, and meet the area’s strong demand for purpose-built clinical, research and administrative space.

Since 2001, LaSalle has completed over 90 medical office building investments, representing 6.5 million square feet and a GAV of $2.25 billion, across three dedicated MOB funds, as well investments in its diversified commingled funds and separate accounts.

About LaSalle Property Fund

LPF invests in and manages a diversified portfolio of high quality, stabilized real estate and real estate-related assets in the industrial, multifamily, office and retail sectors in top markets across the United States. Drawing from LaSalle Investment Management, Inc.’s 35-year record of accomplishment of core real estate investment on behalf of sophisticated institutional investors, LPF aims to provide attractive risk-adjusted income returns with the potential for superior long-term capital growth through an investment process and platform that leverages LaSalle’s industry-leading market research.

About William Macklowe Company

William Macklowe Company (WMC) is a privately owned, vertically integrated real estate investment platform focused on high quality assets and value creation lead by William Macklowe. WMC, and its principal’s activity at its predecessor firm, have accounted for over $15 billion in real estate transactions as a prolific owner, manager, acquirer and developer of prime Manhattan properties over the past 20 years.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle” or “the company”) today announced it has completed the majority acquisition of the $1.2 billion debt fund business of Latitude Management Real Estate Investors (“Latitude”).

Upon closing, the Latitude business has been transferred into LaSalle’s North America Private Equity platform and has been re-named LaSalle Mortgage Real Estate Investors (LMREI). Additional information can be found at www.lasalle.com/lmrei.

As previously announced, LMREI President and CEO Glenn Sonnenberg and Executive Vice President Chip Sellers, along with Managing Directors Craig Oram and Brett Mayer, will continue to lead the day-to-day business and LMREI’s 20 employees will continue to operate under the same structure, systems and processes to provide continuity for all the firm’s stakeholders. The senior management team has retained an ownership position in LMREI, executed multi-year employment agreements and will be actively involved in the ongoing strategy, product development and growth planning process.

Jason Kern, LaSalle Americas CEO, said: “We are pleased to welcome our new colleagues to LaSalle, and look forward to advancing our debt capabilities into what has become a strategically important investment allocation for our clients. LMREI’s cultural alignment and fiduciary-focused mindset will serve the broader firm well as we seek to expand the platform in the years ahead.”

Glenn Sonnenberg, LMREI President and CEO, added: “Joining LaSalle affords us a tremendous opportunity to build on the strong track record we have established over the past 19 years. We are enthused by the growth prospects ahead and will remain focused on adhering to the same investment rigor and commitment to client service that have guided us to date.”

LMREI is a commercial real estate lender providing short term, floating rate loans against middle-market commercial real estate assets owned by sponsors seeking targeted real estate solutions. LMREI’s primary focus has been originating new bridge loans for value-add and transitional properties in sustainable growth markets throughout the United States. LMREI has managed a successful series of commingled debt funds, the fourth and most recent having a total equity raised of approximately $480 million. LMREI’s seasoned management team and vertically integrated platform has successfully closed over $3 billion in financings across all primary commercial real estate property types.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.

LaSalle Investment Management (“LaSalle”) announced today that it has acquired San Melia (“the property”), a 488-unit luxury multifamily community in Phoenix, on behalf of its U.S. core open-end real estate fund, LaSalle Property Fund (“LPF”). The Mark-Taylor-built property, situated on 28 acres in Phoenix’s desirable Ahwatukee Foothills neighborhood, presented an opportunity for LaSalle to acquire a well-located multifamily asset in a fast-growing submarket marked by low supply.

The Phoenix metropolitan area remains a national leader in job and population growth, both key drivers of increasing demand for quality multifamily properties. The area has seen its labor force increase by nearly 18 percent over the last five years while its unemployment rate dropped by nearly 3 percent, and prominent employers including JP Morgan Chase, Wells Fargo and Intel are finalizing plans to bring a total of 14,000 additional jobs to the region. Notably, while Phoenix has traditionally been dominated by an aging population, recent migration and population growth patterns have skewed younger. Millennials now account for approximately 21 percent of the local population, and this generation is expected to grow locally at five times the national rate, according to Fannie Mae.

Summit Walia, Managing Director of Acquisitions at LaSalle, commented: “Phoenix remains a top-performing multifamily market in the U.S. due in large part to the rapid growth and diversification of the region’s employment base, which is attracting young talent from across the country and contributing to the area’s long-term growth prospects. These factors, combined with the limited supply pipeline in Ahwatukee Foothills and the high quality and desirable location of the asset, made San Melia a uniquely compelling investment opportunity.”

Jim Garvey, Portfolio Manager for LaSalle Property Fund, commented: “This transaction represents an excellent opportunity to achieve attractive risk-adjusted total returns with an emphasis on income. This acquisition directly aligns with our investment strategy of purchasing well-located core assets that offer stable cash flows and upside potential.”

Located in the thriving, amenity-rich Ahwatukee Foothills submarket, San Melia is connected to the rest of the Phoenix metro by major thoroughfares including the I-10, Price Road and Loop 202, which offer residents ease of access to major employment centers, top-rated school districts and recreational activities. The property is adjacent to more than 2.4 million square feet of retail, dining and recreation options at the neighboring Ahwatukee Foothills Towne Center, which is anchored by AMC Theatres and Sprouts. A pedestrian walkway at the north end of the property provide residents convenient access to the retail center.

About LaSalle Property Fund

LPF invests in and manages a diversified portfolio of high quality, stabilized real estate and real estate-related assets in the industrial, multifamily, office and retail sectors in top markets across the United States. Drawing from LaSalle Investment Management, Inc.’s 35-year record of accomplishment of core real estate investment on behalf of sophisticated institutional investors, LPF aims to provide attractive risk-adjusted income returns with the potential for superior long-term capital growth through an investment process and platform that leverages LaSalle’s industry-leading market research.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 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.