Chicago, London, Singapore (October 21, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces its results from the 2024 GRESB assessment, an industry-recognized global Environmental, Social and Governance (ESG) benchmark for asset managers.
Eighteen of the firm’s funds and separate accounts, domiciled across Europe, North America, and the Asia-Pacific region, participated in the 2024 assessment, of which seven achieved a 5-star rating and five achieved a 4-star rating. Six of the firm’s funds ranked in the top three within their sector peer groups, with both LaSalle Canada Property Fund and LaSalle China Logistics Venture earning first place within their respective sector peer groups.
Those LaSalle funds that achieved a 4 or 5-star rating in the 2024 GRESB assessment are listed below:
Julie Manning, Global Head of Climate and Carbon, LaSalle commented: “LaSalle is committed to delivering upon our clients’ sustainability goals in ways that also drive investment performance, and these impressive results reflect this effort. As performance drivers, sustainability factors are key to our corporate strategy in addition to being a focus throughout our investment process. As such, we will continue to embed sustainability further into each function across our operations and maintain our position as a leader in the industry.”
ENDS
About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.
For more information, please visit www.lasalle.com, and LinkedIn.
CHICAGO, LONDON, SINGAPORE (January 15, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has recorded strong sustainability performance results in two industry-recognized global Environmental, Social and Governance (ESG) benchmarks for asset managers.
In the 2023 Global Real Estate Sustainability Benchmark (“GRESB”), 20 of the firm’s funds and separate accounts, domiciled across Europe, North America, and the Asia-Pacific region, have been recognized for their ESG standards. Across the 20 submissions, seven achieved a 5-star rating, up from four in 2022, nine achieved a 4-star rating, and four achieved a 3-star rating. LaSalle China Logistics Venture was ranked 1st place within its sector peer group, and the firm’s average score increased by nearly three points from 82.22 in 2022 to 85.15 in 2023.
LaSalle commingled products recognised within the 2023 GRESB include:
In addition, LaSalle has received updated scores for the 2023 ‘Principles for Responsible Investment’ (“PRI”) Assessment Report, securing four stars in the categories pertaining to Policy Governance and Strategy, Direct – Listed Equity – Active Fundamental, and Confidence Building Measures, as well as achieving three stars for Direct Real Estate.
LaSalle PRI Assessment Report results include:
Julie Manning, Global Head of Climate and Carbon at LaSalle, commented: “LaSalle is committed to improving and delivering upon our clients’ ESG goals in ways that also drive investment performance, and these impressive results reflect this effort. Sustainability factors are key to our corporate strategy in addition to being a focus throughout our investment process. In the year ahead, we will continue to embed sustainability further into each function across our operations and maintain our position as a leader in the industry.”
About GRESB
GRESB is an industry-driven organization transforming the way capital markets assess the environmental, social and governance (ESG) performance of real asset investments. More than 900 property companies and funds, jointly representing more than USD 3.6 trillion in assets under management, participated in the 2018 GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment. GRESB data and analytical tools are used by more than 75 institutional and retail investors, including pension funds and insurance companies, collectively representing over USD 18 trillion in institutional capital, to engage with investment managers to enhance and protect shareholder value. Greater transparency on ESG issues has become the norm, with GRESB widely recognized as the global ESG benchmark for real assets. For more information about GRESB and its ESG benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.
About the PRI
The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its ESG benchmarking and reporting for real estate, please visit https://www.unpri.org/
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 approximately $89 billion of assets in private and public real estate equity and debt investments as of Q3 2023. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.
For more information, please visit www.lasalle.com, and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.
LaSalle Investment Management (“LaSalle”) has continued to deliver upon its environmental, social responsibility and governance (ESG) goals, recording improved performance in two industry-recognized global ESG benchmarks for asset managers.
Within the 2022 Global Real Estate Sustainability Benchmark (GRESB), 18 of the firm’s funds and separate accounts, domiciled across Europe, North America, and the Asia-Pacific region, have been recognized again for their ESG standards, further improving upon the results reported in 2021. Across 18 submissions, the firm achieved four 5-Star, eight 4-Star and six 3-Star GRESB Ratings.
LaSalle commingled products recognized within the 2022 GRESB include:
In addition, LaSalle has also received updated scores for the 2021 ‘Principles for Responsible Investment’ (PRI) Assessment Report, most notably securing a 5-star rating in the Investment & Stewardship Policy score, the only rating that applies across the whole of the firm. 5-star scores are reserved for asset managers that can, “demonstrate leading practices within the responsible investment industry.”
These results come following changes to the PRI’s reporting structure and scoring methodology, which included moving to a star classification system from letter classification.
LaSalle PRI Assessment Report results include:
David DeVos, Global Head of ESG at LaSalle said: “These impressive results evidenced in leading industry benchmarks demonstrate LaSalle’s commitment and expertise in delivering upon our ESG goals. While pleasing to have secured these metrics, reinforcing LaSalle’s status as a leader in responsible real estate investment, we continue to seek opportunities to accelerate our efforts in achieving our long-term targets and achieving superior performance for our clients.”
About GRESB
GRESB is an industry-driven organization transforming the way capital markets assess the environmental, social and governance (ESG) performance of real asset investments. More than 900 property companies and funds, jointly representing more than USD 3.6 trillion in assets under management, participated in the 2018 GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment. GRESB data and analytical tools are used by more than 75 institutional and retail investors, including pension funds and insurance companies, collectively representing over USD 18 trillion in institutional capital, to engage with investment managers to enhance and protect shareholder value. Greater transparency on ESG issues has become the norm, with GRESB widely recognized as the global ESG benchmark for real assets. For more information about GRESB and its ESG benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.
About the PRI
The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its ESG benchmarking and reporting for real estate, please visit https://www.unpri.org/
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 announces the final close for LaSalle China Logistics Venture (“LCLV” or the “Fund”) and its co-investment vehicle with total committed capital of US$972 million raised. The Fund and its co-investment vehicle had received initial capital commitments of US$681 million at its first close last year.
LCLV is LaSalle’s first fund dedicated to the China logistics sector, investing in modern logistics properties in markets with strong fundamentals. The Fund has seen strong support from a diverse group of new and existing global investors, attracting capital from North America, Europe, the Middle East and Asia.
The completion of the capital raise comes as the Fund and its co-investment vehicle have already invested and committed US$423 million across 15 investments. This includes three recent acquisitions in Shanghai, Nanjing, and Tianjin. The Fund is expected to have investment capacity of up to USD 2.5 billion.
LCLV invests across Tier I and Tier II cities located in China’s key logistics regions, including the Yangtze River Delta (Greater Shanghai), Bohai Bay (Greater Beijing) and the Greater Bay Area (South China). The Fund seeks to acquire and develop a diversified modern logistics portfolio in markets with strong fundamentals, capturing attractive development margins. LCLV also seeks to acquire and reposition underperforming assets. In addition, the Fund will focus on investing in cold chain logistics, benefiting from the rising demand from the fresh food sector in China.
Keith Fujii, Head of Asia Pacific, said: “China has always been a key growth market for LaSalle. The successful close of LCLV will allow us to pursue compelling investment opportunities and expand our on the ground investment footprint, drawing upon our regional resources and local expertise in the sector. We are pleased to deepen our commitment to our China business with the close of our new Fund.”
Claire Tang, Co-CIO, Asia Pacific and Head of Greater China, said, “The China logistics sector continues to be underpinned by solid fundamentals – strong domestic consumption coupled with a rapid acceleration in e-commerce adoption post-Covid. The successful closing highlights our strong track record, the market opportunity, and endorsement on our investment approach. With our experienced team, we are well-positioned to source and execute on the best opportunities.”
LaSalle has a long track-record of success in the Chinese logistics sector, with more than US$2.1 billion of transactions completed since 2008. LaSalle currently manages over US$6billion of logistics investments in Asia, across key markets including China, Japan, Korea and Australia.
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, today announced the acquisition of two logistics facilities on behalf of LaSalle China Logistics Venture (“LCLV” or the “Fund”). LaSalle’s first dedicated China logistics vehicle, the Fund invests in modern logistics facilities in markets with strong fundamentals.
Purchased as a portfolio of two completed assets from an e-commerce retailer in China, the new additions add close to 139,273 square metres of modern Grade A logistics facilities to LCLV and are located in well-established logistics markets. The first is a Grade A warehouse located in Tianjin Wuqing, a satellite market of Beijing, which is 35 kilometres Beijing Daxing Airport and only 80 kilometres from Beijing city centre. It is an ideal hub for city and regional distribution in a market where high-grade properties command a premium.
The second facility newly acquired for LCLV is located in Suzhou Industrial Park, one of the largest national development zones in China and a model of successful industrial park development. It is close to the central business district of Suzhou, a hub of international trade and business, and is only 65 kilometres from Shanghai’s central business district. Future supply in the area is highly limited and demand continues to be robust.
Since closing in Q3 2020, portfolio occupancy has improved from 37% to 93%.
Together, these properties represent the eighth acquisition for LCLV. The Fund’s portfolio now spans key logistics regions in China, from prime Shanghai and Beijing markets to South China’s Greater Bay Area.
Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “The Covid-19 pandemic has underscored the importance of efficient distribution. As China leads the economic recovery in Asia Pacific into 2021 and beyond, LCLV is giving investors access to potentially attractive investment opportunities via quality logistics assets in China, where warehouse tenants increasingly show a preference for Grade A facilities.”
Claire Tang, Head of Greater China at LaSalle Investment Management, said: “These well-located facilities are an excellent fit for LCLV and highlight our ability to seize opportunities to expand our portfolio through the acquisition of high-quality assets. Modern logistics facilities have been a key investment focus for LaSalle, and the market fundamentals for China logistics remain compelling.”
LaSalle has a long track record in China logistics, completing more than US$2.1 billion of transactions since 2008. It debuted LCLV in 2019, completing the first close of the Fund in April 2020 with initial capital commitments of US$681 million and a diverse mix of investors from Europe, the Middle East, and Asia. LaSalle currently manages over US$4 billion of logistics investments across key markets in Asia, including China, Japan and Korea.
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, today announced the on-time completion of three new LaSalle Logiport logistics facilities in Greater Shanghai. With strong pre-leasing momentum indicative of a solid market for high-specification logistics facilities in the Shanghai region, the new Grade A facilities are an impressive addition to the LaSalle portfolio.
LaSalle Logiport Shanghai Qingpu is a 47,000-square-meter logistics facility situated in a prime location in the Qingpu Industrial Zone. Only 50 kilometres from Shanghai’s central business district, Qingpu district straddles key regional transportation routes and is a vital part of the Yangtze River Delta Economic Zone. The new two-storey double-ramped Logiport facility has been fully pre-leased to a leading global integrated express courier and logistics operator.
LaSalle Logiport Suzhou, located in Wangting International Logistics Park, is a state-of-the-art facility providing 51,000 square meters of logistics space in a two-storey double-ramped building completed at the end of September. It is close to Suzhou city, a hub of international trade and business, and 90 kilometres from Shanghai’s central business district. Eighty-two percent of the state-of-the-art facility has been pre-leased to a major retailer and e-commerce leader in China.
LaSalle Logiport Jiaxing is a two-storey double-ramped logistics facility located in Pinghu Logistics Park at Dushan Port. Serving Yangtze River Delta traffic and international maritime transport, the Park is also only 90 kilometres from Shanghai’s central business district. Completed at the end of September, the new Logiport hub has a total floor area of 96,000 square meters, fifty four percent of the facility has been pre-committed to one of China’s largest e-commerce logistics companies.
The three properties are new additions to the LaSalle Asia Opportunity Fund series, which invests in diversified real estate with a value-add investment strategy.
Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “The Covid-19 pandemic has underscored the importance of efficient distribution. As China leads the economic recovery in Asia Pacific into 2021 and beyond, LaSalle Logiport is giving high-calibre multinationals access to Grade A logistics facilities that support their ongoing growth. The timely completion and successful leasing of these well-located facilities highlight our ability to execute and deliver on China logistics investment opportunities.”
LaSalle has a long track record in China logistics, completing more than US$2.1 billion of transactions since 2008. LaSalle currently manages over US$4 billion of logistics investments across key markets in Asia, including China, Japan and Korea.
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 has completed the first close of LaSalle China Logistics Venture (“LCLV” or the “Fund”). The Fund and its co-investment vehicle have received initial capital commitments of US$681 million. LaSalle’s first dedicated China logistics vehicle has seen strong demand from investors, attracting a diverse mix of investors from Europe, the Middle East, and Asia. The Fund retained support from existing LaSalle investors as well as attracting capital from investors which are new to LaSalle.
LCLV will invest across tier I and tier II cities located in China’s key logistics regions, including the Yangtze River Delta (Greater Shanghai), Bohai Bay (Greater Beijing) and Greater Bay (South China). The Fund seeks to develop and build a diversified portfolio of modern logistics facilities in markets with strong fundamentals, capturing attractive development margins. LCLV also seeks to acquire and reposition underperforming logistics assets. The Fund will also look to invest in cold chain logistics, benefiting from the rising demand from the fresh food sector in China.
LCLV has recently acquired two development sites located in prime Shanghai satellite markets of Kunshan and Jiaxing. It has also acquired three stabilized logistics assets in Wujiang, Tianjin and Huizhou.
LaSalle has a long track record in China logistics, completing more than US$1.5 billion of transactions since 2008. LaSalle currently manages over US$4 billion of logistics investments in Asia, across key markets including China, Japan and Korea.
Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “With LCLV, we are responding to strong investor appetite for quality logistics assets. The quick completion of our first close is a testament to our strong track record and to the attractive returns available in the logistics sector in China.”
Claire Tang, Head of Greater China at LaSalle Investment Management, said: “Growth in domestic consumption, and e-commerce in particular, will continue to boost demand for modern logistics properties. With the closing of our new Fund, we will draw upon our regional resources and local expertise in the sector to pursue compelling investment opportunities and expand our investment footprint.”
Yen Tjin Chan, Fund Manager, LaSalle China Logistics Venture, said: “We are pleased with the fundraising success of LCLV. We seek to continue to leverage on our strong on-the ground team as well our existing partnerships to develop and acquire a diversified portfolio of logistics assets.”
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.
