LaSalle Investment Management (“LaSalle“) has acquired the logistics property ”The Plus” in Bielefeld, Germany, for the French public service additional pension scheme (ERAFP). The vendor is Real I.S. AG.

Completed in 2008 and expanded in 2011, the property comprises a total area of around 31,200m2. It is divided into approximately 27,200m2 of state-of-the-art warehouse and handling space, with a total cross-docking capacity of 10,000m2, as well as 4,000m2 of office space.

Located in the east of Bielefeld, North Rhine-Westphalia, the warehouse is leased on a long-term basis to the transport and logistics company Kühne + Nagel. It benefits from excellent connections to the A2 freeway with surrounding cities including Hanover and Kassel. As well as this, the Ruhr area and the Dutch border can be reached in less than 120 minutes by car. Due to its strategically attractive location, the surrounding business park is home to numerous international companies from the industrial, logistics, wholesale, retail  and service sectors.

Mathias Malzbender, Fund Director & Head of Separate Accounts Continental Europe at LaSalle, comments: “We are delighted to have overseen the successful acquisition of this high-quality and well-situated property for our investor in a region which has experienced strong employment growth recently, as well as the significant development of this business park. ‘The Plus’ is perfectly aligned with the portfolio’s investment strategy and represents the high quality and reliability of this separate account to secure long-term and sustainable returns.”

LaSalle was advised on the transaction by Clifford Chance Deutschland LLP (Legal & Tax), Drees & Sommer (Technical, Sustainability) and BNP Paribas Real Estate (Buy Side).

Real I.S. was advised on the sale from a legal and tax perspective by the law firm Norton Rose Fulbright LLP and from a commercial perspective by CBRE GmbH. Brand Berger was active on the technical side.

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.

Aviva Investors Real Estate France announces that it has completed the acquisition of the office building Weesperstraat 420-446, in the centre of Amsterdam on behalf of one of its clients. The asset has been sold by LaSalle on behalf of a separate account client.

The property, is an iconic nine-storey office building, offers approximately 7,400 sq m of functional office space, and which has recently undergone extensive renovation work, including upgrades to improve its overall sustainability credentials and energy-saving qualities. Since 1993, the property has been fully let to the municipality of Amsterdam on a long-term basis.

Located in the famous canal belt of Amsterdam, Weesperstraat 420-446 offers access to a wide variety of facilities and attractions, including shopping areas, restaurants and the city’s museums. With its central location, the building also benefits from a number of well-established transport links, with Amsterdam’s metro, tram and bus networks all within close proximity, as well as the A10 ring road, all of which make it a highly-accessible location.

Uwe Rempis, Managing Director at LaSalle KVG, comments: “We are pleased with the successful sale of Weesperstraat 420-446. The asset has performed exceptionally well since acquisition, which comes following targeted investments made by LaSalle and the tenant over several years aimed at modernising the building and improving its energy efficiency and quality of amenities offered. The sale comes at a strategically favourable time for the Fund and is a one of the major highlights for this financial year.”

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.

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.

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 ESG 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.

LaSalle has acquired a six-storey residential property in the AZCA financial district of Madrid. The asset has been acquired from Optimum III Value Added Residential SOCIMI, a residential property investment fund, on behalf of a LaSalle client.

Located at Calle Edgar Neville 7, the property comprises 40 one-, two- and four-bedroom apartments, a ground-floor retail space under long-term lease to a supermarket and two levels of underground parking. Its surrounding area is a vibrant, mixed-use neighbourhood which combines residential properties, a wide range of amenities, Madrid’s largest office area in the AZCA financial district, the Nuevos Ministerios government complex and the Santiago Bernabéu football stadium. The property is close to the city’s Paseo de la Castellana north-south axis and benefits from strong transport connections, with the nearby Nuevos Ministerios and Cautro Caminos metro stations providing access to the city centre and the airport.

Following a refurbishment and expansion of the property between 2006 and 2009, LaSalle will invest in further improvements to enhance the building quality and support a strategy of leasing out vacant units in the short term Despite the current challenging macroeconomic environment, Madrid’s rental market continues to experience high rental demand and low institutional supply, particularly in central locations, and the city is projected to remain the best-performing Spanish city over the next five years.

Francesco Coviello, Head of Investment CEE and Southern Europe at LaSalle, said: “Calle Edgar Neville 7 is situated in a robust submarket of Madrid where we forecast continued high demand for rental housing, particularly among upper-middle-income occupiers. We’re pleased to have secured this attractive investment opportunity on our client’s behalf and look forward to further building out our exposure to high-quality Spanish residential assets in prime city-centre locations. As we are targeting significant investment in Spain in the coming year, with main focus on the residential sector as we see the Build-to-Rent sector undersupplied and with a lack of quality residential units.”

LaSalle was advised on this transaction by JLL for commercial, Hogan Lovells for Legal and Tax, Tassl for Technical advice

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 announces the sale of General Lacy 23, a heritage building in Madrid, which has become the first office building in the country to be given LEED Platinum green building status following a major refurbishment. LaSalle has sold the former tobacco warehouse to CBRE Global Investors, having acquired the property in late 2018 on behalf of a German pension fund.

LEED (Leadership in Energy and Environmental Design) certification is the most widely used green building rating system in the world. Platinum is the highest award available and this now indicates that General Lacy 23 is one of Spain’s most sustainable and environmentally friendly buildings.

The property is located south of Madrid’s central business district, in the Méndez Álvaro district. It offers close to 7,000m2 of office space and is fully occupied by Repsol Electricity and Gas HQ, part of the Spanish oil company. The sale was completed against a backdrop of rising demand for commercial real estate in Madrid, with vacancy rates having dropped 3% from their 2014 peak to 9.3%.

Uwe Rempis, Head of Fund Management for Germany at LaSalle Investment Management, said: “We’re delighted to have harvested a strong capital gain and delivered stellar investment performance for our client through the sale of the General Lacy 23 office building. While we had intended to hold this asset for a longer period, this world-class refurbishment has generated considerable interest from the market. The refurbishment project reflected the extent to which addressing environmental change is driving our thinking on the future of real estate and the types of property in which we invest.”

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 announces the sale of a warehouse and distribution facility currently leased to Hobbycraft, the UK-based arts & crafts retailer, in Burton upon Trent for a further 8 years. The asset has been acquired by Cabot Properties, for £20 million.

The Hobbycraft facility is based in the Centrum 100 Business Park and comprises a total area of c.213,000 sq ft. Built in 2006, the asset is a modern and high-quality facility that conforms with institutional-grade specifications for industrial properties. LaSalle acquired the property in 2013.

Sophie Simmonds, Fund Manager at LaSalle Investment Management, said: “We’re pleased to have realised a highly competitive return for our client on this investment, driven by both capital growth and the stable rental income generated during the asset’s six-year hold period. Investor appetite for distribution and logistics properties remains strong and we will continue to capitalise on this buoyant market to focus our industrial investment in those assets that combine prime locations, strong transport connections and attractive supply-demand dynamics.”

LaSalle was advised on the sale by Savills.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $67 billion of assets in private and public real estate property and debt investments as of Q2 2019. 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.

Investing Today. For Tomorrow.

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.

About Cabot Properties

Formed in 1986, Cabot was founded with the vision of bringing together a collaborative team of experienced real estate professionals dedicated to creating portfolios of profitable investments through the execution of sound and disciplined strategies. The six senior principals have collectively spent 18 years together executing industrial real estate transactions in markets across the U.S. and Europe and through multiple real estate cycles. In its 30 plus year history, Cabot has invested $9.6 billion in 181 million sf of industrial real estate, of which $7.3 billion has been realized. During this time, Cabot has managed and operated over 1,390 buildings comprised of over 3,800 tenants.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, together with Frankfurt based fund manager Universal-Investment, have acquired Ploum & Blaak House, two connected office properties in Rotterdam, on behalf of BVK from Real I.S.

The two properties are modern, high-quality office spaces behind a historical façade and offer a combined rental area of c.17,000m². Ploum House is a six-storey building currently undergoing a renovation scheduled for completion in Q4 2019 and is fully let to amongst others the Dutch law firm Ploum. Blaak House is a seven-storey property that has been recently fully redeveloped internally and is let to the service operator Tribes, with additional space to be filled under LaSalle’s management. The two buildings are located at Blaak, a major thoroughfare of the Rotterdam CBD with strong road, metro and tram connections. 

The Rotterdam office market is the second largest in the Netherlands and benefits from falling vacancy rates, which have more than halved since 2015, driven by conversions reducing supply, tenants migrating from the outskirts to the city centre and demographic growth. With the Dutch government promoting the growth of the Randstad economic region, the market performs strongly against LaSalle’s proprietary DTU+E criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment.

Christian Rust, Fund Manager at LaSalle, says: “As a state-of-the-art asset located in a central area of a major and growing European city, Ploum & Blaak House represents a strong addition to the fund. We’re pleased to be able to offer our client exposure to a prime office location and the upside potential of an excellent location in one of the Netherlands’ largest office markets.”

Nadine Gelke, Head of Investment for the Netherlands at LaSalle, said: “I am delighted that we have acquired this excellent asset on behalf of our client. It is a good example of our strategy to diversify our investment activities in the Netherlands while taking on leasing risk in DTU+E rich locations. We’ll be working to let the remaining space within the coming year through our proactive approach to asset management.”

LaSalle was advised by JLL, legal advisor Weebers Vastgoed Advocaten and technical advisor Drees & Sommer while the seller was represented by Savills and Loyens &Loeff.

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”), the global real estate investment manager, acquired a portfolio of six properties of MAKRO Spain from METRO PROPERTIES, the real estate company of METRO AG, as part of a sale-and-lease-back transaction. The portfolio was acquired on behalf of French public service pension scheme ERAFP for €73 million. The transaction was closed in June 2019. Following the transaction, MAKRO Spain will remain the sole tenant of all six assets with a 15-year fixed lease term with extension options.

“We have in recent years continuously enhanced our relationship with our hospitality customers. The transaction shows the commitment of our company to the Spanish market where sectors such as tourism and hospitality are developing great performance and offering clear growth potential for our company,” said Peter Gries, CEO of MAKRO Spain.

The six stand-alone properties are located in the major tourist areas of Bilbao, Zaragoza, Badalona, Valencia, Alicante and Palma De Mallorca, with each asset the dominant wholesale store in its respective city. Strategically located within semi-urban locations in well-established tourist destinations, the six assets cater predominantly to professional customers from the hotel, restaurant and catering sectors. The portfolio’s catchment area attracts c.40 million overnight tourists per year, benefiting from the strength of Spain’s tourism industry. In addition, c.10.1 million permanent inhabitants live within a 30 to 45-minute drive of the portfolio, representing almost 22% of Spain’s total population.

Mathias Malzbender, Head of Separate Accounts for Continental Europe at LaSalle Investment Management, said: “This acquisition allows us to improve the sector and country diversification of the Fund. Given the prime locations of the assets and strong sales record of the stores to date, we are confident that the MAKRO portfolio will produce attractive long-term income, continuing the strong performance of the fund.”

“Our activities strictly follow the aim of increasing the value of METRO’s real estate. This includes future-oriented investments in our locations, their sustainable development and sale & lease back transactions as long-term commitments. The sale of select assets from the real estate portfolio in Spain is one element of our global portfolio strategy. With LaSalle we have a partner who shares our vision for the wholesale business,” explained Wolfgang Baumgartinger, Director Transactions, METRO PROPERTIES.

Francesco Coviello, Head of Acquisitions for Central and Southern Europe at LaSalle, said: “I am delighted that we have acquired this excellent portfolio of assets, based across Spain, a country delivering growth rates well above the Eurozone average. Furthermore, the logistics and warehousing sector is set to outperform given the thriving state of e-commerce in country. This is an excellent example of the strong network that we have in Spain, where we are investing on behalf of a range of clients.”

For this transaction, METRO PROPERTIES was advised by the consulting firms CBRE and Simmons & Simmons (legal advisory).

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 has acquired the property General Lacy 23 in Madrid, a multi-award winning 19th-century office building. This was acquired on behalf of a separate mandate with a German pension fund. 

The General Lacy 23 building is located in the heart of Madrid’s Méndez Álvaro district, south of the central business district of the Spanish capital, is a multi-award winning 19th-century office building. Originally a tobacco factory and converted into an office building two decades ago, the property is currently being modernized as a ‘green building’. The sole tenant from April 2019 is the Spanish oil company Repsol, who will occupy the space with one of their subsidiaries as the headquarters is located just 850m away on Calle de Méndez Álvaro.

The Méndez Álvaro neighborhood, between Atocha and the M-30, is experiencing a strong dynamism as the headquarters of companies. Besides Repsol other corporates such as Amazon, Adif, Mahou, CLH or Ericsson have also decided for this submarket where further major projects are going to take place.

Uwe Rempis, Head of Fund Management Germany at LaSalle Investment Management, comments: “Thanks to the high quality of the building, with its flexible use for both single and multiple tenants, combined with its A-location on a European real estate hotspot, the object fits perfectly into the fund strategy. We are very happy that we have succeeded in adding this exceptional building to our portfolio. “

Hogan Lovells, Deloitte and Tassl acted as advisors to the buyer.

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.