Seoul (August 19, 2024) — LaSalle Investment Management Co., Ltd. (“LaSalle Korea”), on behalf of its Korea logistics investment joint venture with a Middle Eastern sovereign wealth fund (“the Joint Venture”) as well as LaSalle Asia Opportunity Fund VI (“the Fund”), has acquired two dry-only logistics facilities in Anseong within Greater Seoul with a combined gross floor area (GFA) of 385,946 square meters, at a purchase price of approximately US$450 million (or KRW5.3 million per pyung).

The two facilities are located next to each other and are built with modern warehouse specifications including spacious yards for its tenants and direct ramp access to each floor with leasable area efficiency of approximately 99%. The latter is a distinct feature for the facilities, compared to other similar sized warehouses designed with circular ramps which significantly reduces net leasable area.

• Center-A, with GFA of 187,226 square meters was completed in June 2023 with 100% occupancy and Weighted Average Lease Expiry (WALE) of 4.35 years.
• Center-B, with GFA of 198,718 square meters was recently completed in July 2024 and also has 100% occupancy with WALE of 4.55 years.
• Across Center-A and Center-B, which will be renamed Logiport Anseong Center-I and Logiport Anseong Center-II respectively, there are four institutional tenants representing established companies in their respective industries, including semiconductor, pharmaceutical, beauty and consumer goods.

This transaction follows the acquisition of two logistics facilities in Icheon made by LaSalle Korea last year, also on behalf of the Joint Venture and the Fund. LaSalle Korea also divested a separate cold storage warehouse project this year for KRW10.4 million per pyung after completing ground-up development and stabilizing leasing on the asset.

Steve Hyung Kim, Senior Managing Director and Head of Korea, commented: “The logistics sector continues to be one of the most dislocated property types requiring a high level of deal selectivity. LaSalle Korea’s recent acquisitions represent unique opportunities to invest in newly-built modern warehouses with full occupancy by institutional tenants, purchased at well below replacement costs. LaSalle Korea also plans to upgrade and implement new sustainability initiatives across these two investments which total over 4.15 million square feet in GFA.”

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About LaSalle Investment Management  |  Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over US $87 billion of assets in private and public real estate equity and debt investments as of Q1 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Seoul (July 30, 2024) — LaSalle Investment Management Co., Ltd. (“LaSalle Korea”), on behalf of LaSalle Asia Opportunity Fund VI (“the Fund”) and a local co-investor, was awarded an office site in Seoul after submitting the winning bid in the 5th round of a non-performing loan (NPL) collateral auction. The winning bid price of approximately US$115 million represented a 33% discount to its appraised value. The land site is walking distance from Gangnam Station within the Gangnam Business District, with existing zoning to allow development of a new office with planned GFA of over 29,000 square meters. The project cost upon completion is estimated to be approximately US$245 million.

This acquisition marks the Fund’s second foray into the office market in Korea following a high-yield loan deal last year to bridge finance a 10-storey office project in Seoul’s Seongsu district. This collateralized loan was priced during a period of credit spread dislocation and was successfully repaid on its maturity date in December 2023, allowing the Fund to exit its first opportunistic debt investment in Asia Pacific.

Amongst key gateway city office markets globally, Seoul’s Gangnam office district continues to display post-pandemic resilience supported by both occupier demand and capital markets liquidity. According to JLL REIS and JLL Korea Research, as of Q1 2024, the office vacancy rate in Gangnam was 0.3%, the lowest compared to the two other business districts in Seoul with net effective rents also registering the highest year on year increase compared to the other business districts.

Steve Hyung Kim, Senior Managing Director and Head of Korea, commented: “Opportunistic investing in a higher cost of capital environment has forced us to be patient and also creative in how we source attractive entry points to our acquisitions. On behalf of our investors, we recently closed on recapitalizations, private off-market sales, and collateral acquisitions from NPL auctions like this recent transaction which capitalizes on both Gangnam’s strong office fundamentals, as well as a lowered project cost basis due to a legacy borrower and junior lender getting foreclosed. Larger sized office sites in Gangnam have retained scarcity value and this latest project from LaSalle Korea will introduce modern designs and sustainability initiatives to which we are very excited about.”

End

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 US $87 billion of assets in private and public real estate equity and debt investments as of Q1 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

TE Capital Partners (“TE Capital”) and LaSalle Investment Management (“LaSalle”) jointly announced the sales launch of Visioncrest Orchard, a freehold Grade A commercial strata development located in the heart of Singapore’s prime Orchard Road precinct, with a combined office and retail area of 154,711 sqft (14,373 sqm). TE Capital is the operator for Visioncrest Orchard and the partners are accompanied in the joint venture by Metro Holdings as a capital partner of the TE Capital-managed vehicle.

As part of the launch, a 14,725 sqft office space on Level 6 and a 14,844 sqft office space on Level 9 have been released for sale at S$3,980 psf and S$4,130 psf respectively. Following VIP previews in June, a 14,725 sqft office space and several retail units spanning 1,388 sqft are currently under due diligence.

TE Capital and LaSalle attribute the strong demand for the LEED Gold certified, 11-storey freehold office to the allure of the Orchard submarket as well as the asset’s outstanding core qualities which have been boosted by substantial enhancements.

Located along Penang Road, Visioncrest Orchard offers easy walking access to Dhoby Ghaut and Somerset Mass Rapid Transit (MRT) stations, with direct access to three train lines (North-South, North-East and Circle lines). The Central Expressway (CTE) and Pan Island Expressway (PIE) expressways can be reached within a few minutes’ drive.

Situated just over 400 meters (437 yards) from Plaza Singapura and 550 meters (601 yards) from 313@Somerset, Visioncrest Orchard occupies a strategic position close to Orchard’s vibrant retail scene while being just a stone’s throw away from Singapore’s central business district. It is also nestled within the exclusive Oxley enclave and Istana, the official residence and office of the president of Singapore, providing a coveted address which combines prestige with cultural and historical significance.

Offices at Visioncrest Orchard boast greenery views through expansive full-glass, solar-protected windows with floor to floor heights reaching 4.3 meters. Large floorplates of approximately 14,500 sqft offer numerous possibilities for customization, while a generous provision of 135 onsite parking lots offer convenience for occupiers. Smart fittings that offer user-friendly building access via self-registration e-kiosks, as well as enhanced security through biometric features such as facial recognition are among the upgrades that occupiers can expect, while amenities such as a swimming pool, a well-equipped gym, a tennis court and other recreational facilities promote the integration of wellness with work.

In the years to come, Visioncrest Orchard is expected to benefit from commitments by the Singapore government to revitalize the Orchard district. Initiatives such as the Strategic Development Incentive (SDI) scheme will see the introduction of broadened urban planning parameters such as increased building heights, expanded gross floor area and more flexible land use permissions on older assets. Plans to pedestrianize parts of Orchard and redesign traffic flows will also contribute to the transformation of the area. As the availability of high-quality, high-specification freehold offices in the Orchard district will continue to be limited, the partners expect interest in Visioncrest Orchard to remain robust.

CBRE, ERA, JLL, Knight Frank, PropNex and Savills have been appointed as agents for Visioncrest Orchard.

About TE Capital Partners

TE Capital Partners is a uniquely positioned real estate investment and fund management firm, equipped with development management capabilities that focuses on APAC real estate markets. Established in 2019, TE Capital Partners is backed by the family office of Mr Teo Tong Lim, Group Managing Director of Tong Eng Group, a real estate company with a history of more than 80 years, having owned and developed close to 200 acres of land, comprising mixed-use, office, retail, landed housing and apartments.

As of Q4 2023, TE Capital Partners and its subsidiaries, has an AUM of more than S$3 billion across Singapore, Australia, Japan and the United States, and the Principals have developed more than S$3 billion of commercial office, residential and mixed development projects in Singapore in recent years, such as Solitaire on Cecil. Some commercial projects under management include 350 Queen Steet and 312 St Kilda Road in Melbourne, Australia. For more information, please visit www.tecapitalasia.com and LinkedIn.

NOTE: This press release may contain forward-looking statements by TE Capital Partners and should not be relied upon by readers and/or investors for any purposes. This 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. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this press release. Actual performance, outcomes and results may differ from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions.

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, we manage approximately US$87 billion of assets in private equity, debt and public real estate investments as of Q1 2024. 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.

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.

SEOUL (January 30, 2024) — LaSalle Investment Management (“LaSalle”) announced that it has recently exited two investments in South Korea on behalf of LaSalle Asia Opportunity Fund V (“LAO V”) and LaSalle Asia Opportunity Fund VI (“LAO VI”).

The first deal was an exit of a real estate secured debt investment in the LAO VI portfolio which was repaid in December 2023, producing opportunistic equity returns. The loan was originated during market dislocations in early 2023 when credit spreads widened presenting this non-distressed lending opportunity. The loan was secured by a Grade A location land site entitled to develop a 10-storey office building with planned GFA of 6,480 pyung (21,421 sqm) in Seongsu District, Seoul. The borrower had a track record of developing, leasing and selling similar developments as Seoul’s office market continued to be resilient.

Steve Hyung Kim, Senior Managing Director and Head of Korea for LaSalle, commented: “We are actively responding to recapitalization situations in selective projects to invest in preferred equity or secured junior debt. These types of investments are cyclically-driven and offer a balance of both downside protection and attractive risk-adjusted returns especially in the current environment. Aligned with this strategy, we are pleased to exit this investment with opportunistic returns for our limited partners in LAO VI.”

In the second deal, also in South Korea, LAO V completed the sale of Logiport Osan at a price of KRW125.0 billion (approximately US$95.1 million) in January 2024. Strategically located directly off the Gyeongbu Expressway (Expressway #1), one of the primary national expressways in South Korea, Logiport Osan offers its logistics occupiers exceptional accessibility throughout Greater Seoul. Logiport Osan is a 4-story mixed-use modern warehouse with GFA of 12,078 pyung (39,927 sqm) and the project was pre-leased prior to completion in December 2022.

Kim commented: “Logiport Osan was executed by LaSalle Korea in-house from land acquisition, to leasing, to managing the disposition. We are pleased to exit this investment and deliver opportunistic returns for our limited partners in LAO V.”

LaSalle operates in Korea as a licensed asset management company managing over KRW1.67 trillion in AUM (as of Q3 2023) on behalf of both domestic and international clients.

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.

SINGAPORE (January 29, 2024) — TE Capital Partners (“TEC”) and LaSalle Investment Management (“LaSalle”) jointly announced today the completion of the acquisition of a 11-story Grade A office building at 103 Penang Road, Singapore 238467, known as VisionCrest Commercial (the “asset”), in a joint venture between TEC and a fund managed by LaSalle. This joint venture, operated by TEC, marks the second collaboration between the two parties since 2022. Singapore real estate company Metro Holdings Ltd. through its indirect wholly-owned subsidiary, Metrobilt Construction Pte. Ltd., will own a 20% stake in the asset through its partnership with an affiliate of TEC.

Following the acquisition, the joint venture plans to amplify the superior attributes of the freehold, high-specification, LEED Gold certified asset, which includes excellent transport connectivity and immediate access to retail, dining, entertainment and accommodation options, by embarking on enhancement works on the asset’s design, technology and sustainability. Internal and external facelifts will improve the asset’s aesthetic appeal while security and visitor management system upgrades will elevate the asset’s quality. The inclusion of upgraded end-of-trip facilities, EV chargers, upgraded bicycle spaces and solar panels will contribute not just to occupier experience but also to the asset’s sustainability credentials. By combining leading environmental performance with high-quality amenities, these enhancements are expected to help the asset continue to meet tenant requirements and respond to evolving workplace trends, solidifying the asset’s position as one of the most valuable and rare freehold office buildings in the Orchard Road precinct.

Singapore has consistently remained the preferred office investment destination in the Asia Pacific region, owing to its status as a global business hub and its strong track record of capital value growth and preservation. This acquisition is a reflection of the joint venture’s confidence in Singapore’s robust office market.

Emilia Teo, Managing Director, TE Capital Partners said, “On behalf of our shareholders and investors, we are pleased to add this strategic asset to our portfolio. We believe the asset, which sits in the Orchard Road precinct with a historically low supply of high-specification office buildings, will enjoy strong capital value preservation and continue to see strong tenant demand.”

Terence Teo, Managing Director, TE Capital Partners said, “We are confident that this acquisition will capitalize on the strength of the Singapore office market as well as the continued rejuvenation of the Orchard Road precinct. Through the enhancements to the property, we are committed to delivering sustainable returns to all our stakeholders.”

Claire Tang, Co-CIO Asia Pacific, LaSalle Investment Management said, “Singapore is well-placed to benefit from its status as a global business hub highly attractive to MNCs and regional businesses. Private and institutional investors continue to favor the Singapore market due to its relatively low cost of debt and stable political environment.”

George Goh, Head of Acquisitions and Asset Management, Southeast Asia, LaSalle Investment Management said, “We are optimistic about the outlook of the office sector in Singapore. As the flight to quality continues, well-designed and high-quality offices will remain a lynchpin of corporate talent strategies. Our plan for Visioncrest aims to address current and future occupier needs.”

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.

About TE Capital Partners

Founded in 2019, TE Capital Partners is a Singapore headquartered real estate investment manager who offers and manages a comprehensive range of investment products on behalf of public listed corporations, securities companies, and family offices across the region. As of Q4 2023, TE Capital Partners and its subsidiaries manage S$3 billion in assets under management in commercial office, and multifamily assets across Singapore, Japan, Australia, and the United States, via a range of investment vehicles, such as joint ventures, separate accounts, and closed-end funds, including its flagship Asia Opportunities series and Income Partners series. For more information, please visit www.tecapitalasia.com and LinkedIn.

NOTE: This press release may contain forward-looking statements by TE Capital Partners and should not be relied upon by readers and/or investors for any purposes. This 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. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this press release. Actual performance, outcomes and results may differ from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions.

LaSalle Investment Management (“LaSalle”) announced its fifth Canadian value-add real estate fund in Canada, LaSalle BVK Canada Advantage (“BVK Advantage” or “the fund”), expanded its portfolio through the acquisitions of a mid-bay industrial portfolio and multifamily property. Both the industrial portfolio and the multifamily property are located in Toronto.

The multifamily property and industrial portfolio acquisitions are the first capital deployments for BVK Advantage, respectively, after the fund closed in December of 2021 with a total capital raise of C$306 million. Both acquisitions speak to the compelling fundamentals of the Toronto market and the market’s attractive value-add opportunities.

John McKinlay, CEO of LaSalle Canada, said: “We view Toronto as a premier real estate market not just in North America, but globally. Its continued demographic tailwinds, economic strength and land-constrained nature offer opportunities across the risk spectrum that domestic and foreign capital can capitalize on. Even amid an increasing rate environment, there remains an opportunity to find yield in a well-executed value-add acquisition as long as your team has the vision and knowledge to execute at a high level, which I believe our team possesses.”

Added Chris Lawrence, Sr. Managing Director and Head, Value-Add Strategies at LaSalle Canada: “These acquisitions provide a strong foundation for BVK Advantage’s portfolio and highlight our conviction in the multifamily and industrial sectors. We’ve found success in previous funds by identifying well-located properties that can respond to our active management approach, and believe we have done so again here. I’m proud of our team for their creative approach to sourcing and executing both transactions.”

The Toronto Airport Mid-Bay Industrial Portfolio consists of eight properties totaling nearly 400,000 square feet, and is located in Mississauga and Brampton, prime Greater Toronto Area (“GTA”) industrial submarkets. The portfolio is fully leased, with a short weighted average lease term of just over 2 and a half years, and significant upside due to below market in-place rents. The GTA is one of North America’s largest industrial markets at 800 million square feet, and has seen rents grow at a three-year compound annual growth rate of 20% amid a surge in industrial demand driven by e-commerce.

Mike Cornelissen, LaSalle Managing Director of Acquisitions, added: “e-Commerce demand and the potential runway for further expansion in Canada has put a premium on industrial properties. We feel that the land constraints of Toronto, specifically the surrounding Greenbelt, combined with the larger product coming online, positions infill mid-bay product to be a destination for tenants looking for prime distribution facilities. All of this comes at a fraction of replacement cost.”

The multifamily property, 75 Eastdale, includes a 15-story, 253-unit high rise apartment building along with 16 two-story townhomes in the desirable Danforth Village in Toronto’s East End. The property’s unit mix includes studios and 1-4 bedroom apartments and townhouses, and is 96 percent leased. The Toronto market benefits from exceptional population growth, and is projected to be the fastest growing market in Canada totaling 10 million people by 2046, according to LaSalle Research & Strategy. Toronto has averaged under 1.5% apartment vacancy for the last 10 years as demand has outpaced supply. In 75 Eastdale’s immediate area, there is limited apartment supply, and excellent proximity to public transit and employment, which should continue to drive strong leasing trends.

Stephen Robertson, Head of Acquisitions for LaSalle Canada, said: “75 Eastdale is an excellent way for BVK Advantage to enter the market as it is well-located with a strong history of tenant demand. We feel there is excellent upside to this property through select unit and common area renovations that will continue to make this an attractive rental option for those looking for a vibrant neighborhood with easy access to surrounding employment and downtown Toronto.”

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$7 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

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”) and Trilogy Real Estate has announced the acquisition of the former London Metropolitan University buildings, 41-71 Commercial Road and the Met Works Building, in the Aldgate district of the London Borough of Tower Hamlets.

The estate includes 133,163 sq ft (NIA) of innovation and education space set inside two buildings on a one-acre site. The campus had previously been in use as workshops and teaching space for London Metropolitan University. LaSalle and Trilogy acquired the site from the Department for Education in a sale facilitated by the government-owned property company LocatED.

The building was acquired subject to over 40% of the space pre-leased to two providers of further and higher education: Nottingham Trent University’s Confetti Institute of Creative Technologies, and Access Creative College.

LaSalle and Trilogy were advised in the acquisition by strategic real estate consultancy Kauffmans, which also acted to structure the pre-leasing agreement for both occupiers. The refurbishment programme will create a pathway toward a major creative education centre in a growing area of Central London and has been de-risked through a contract with design build company Oktra.

The Commercial Road campus will be substantially refurbished and expanded to circa 150,000 sq ft, leaving 80,000 sq ft of education and creative learning accommodation available for interested occupants.

Chris Lewis, Managing Director, LaSalle Value-Add Investments, said:

“This investment is a great example of LaSalle’s growing Value-Add Investments strategy focusing on creating urban higher education and science accommodation in major gateway markets. Working with Trilogy to secure pre-lets on over 40% of the space provides strong downside protection in this economic environment, and we are looking forward to working closely with Trilogy to replicate the success of our prior investment in East India Dock.”

Robert Wolstenholme, Founder and CEO of Trilogy Real Estate, said:

“Trilogy is delighted to be extending our partnership with LaSalle to bring a second major education campus to Tower Hamlets. We previously developed Republic, a 600,000 sq ft campus where education meets business, which demonstrated that London’s youngest and fastest growing borough is a great place to be training the talent of the future. 

“Aldgate is a place where the next generation of innovators and pioneers live, work, and are educated, in close proximity to the financial centres of the City of London and Canary Wharf, and surrounded by significant innovation ecosystems, particularly in the creative, technology and biomedical sectors. Our project will bring the campus back into use as a centre for higher education, upgrading it to create world-class space fit for the 21st century economy.”

Craig Chettle MBE, Chief Executive, Confetti Institute of Creative Technologies, said:

“We’re excited to be working with LaSalle and Trilogy on creating a campus that will support our ambitious vision to shape the future creative and entertainment industries. Working closely with our partner, Nottingham Trent University, we look forward to working with businesses and the wider community in East London in preparing for our new students in 2023.”

Jason Beaumont, CEO of Access Creative College, said:

“Access Creative College has been educating young creatives in London for over 20-years and it’s an absolute pleasure to be able to announce our vision for the future.”

“We are thrilled by the opportunity to design and build world-class facilities, alongside a pioneering curriculum in the heart of East London, where our collaboration with employers and higher education will be at the centre of a coherent and connected journey for all our students.” 

“We look forward to working with all parties involved, to truly create an unrivalled experience and generate future opportunities for the young people of London.”

The campus sits within London’s strategically significant “Tech Belt” and is surrounded by a substantial cluster of student accommodation, biomedical, and life sciences buildings that extends into the area south of the Royal London Hospital in Whitechapel. The area is renowned for the quality of its amenity offer and the campus benefits from proximity to the leisure opportunities offered by Whitechapel, Spitalfields and the wider East End. The campus is an eight-minute walk from Elizabeth Line services at Whitechapel and a five-minute walk from the London Underground station at Aldgate East.

Previously, Trilogy and LaSalle developed Republic, a unique mixed-use innovation campus where education meets business in East India Dock, providing courses for more than 3,350 students from four major UK universities. Republic provides a high-quality learning environment and leisure offer alongside office space, with initiatives to bring education and business closer together.

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”) 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.

LaSalle Asia Venture Trust II, a separate account managed by LaSalle Investment Management (“LaSalle”), has exchanged on a Grade A office building in Macquarie Park, Sydney.

This transaction, subject to approval by the Foreign Investment Review Board, follows the acquisition of a mixed-use asset in the same precinct by LaSalle Asia Venture Trust I (“LAVT I”) in 2019 and furthers LaSalle’s investment in Macquarie Park, the second largest CBD and the largest technology and life science office precinct in Sydney.

With an advantageous combination of amenities including one of the largest shopping centres in the southern hemisphere, a major university and a hospital, continued improvements in transport infrastructure, as well as attractiveness to many large and international corporations, Macquarie Park is endowed with strong fundamentals for growth.

The property is located on Talavera Road, approximately 12 kilometres northwest of the Sydney CBD. It is situated approximately 400 metres from the Macquarie Park Metro Station, which currently links Macquarie Park to Sydney’s heavy rail network. In 2024, it is expected to connect directly with the Sydney CBD in an infrastructure development that will deliver new metro stations across Sydney’s northwest and southwest. Once operational, the new line will see a train every 4 min and travel time between Macquarie Park and the Sydney CBD will be substantially reduced.

Completed in 1990, the property is an eight-storey building with a total Net Lettable Area of 12,646sqm, along with 499 (1:25sqm) car parking bays. This car park ratio is the one of the highest in Macquarie Park and cannot be replicated under the current planning scheme.

Adam Donahue, Head of Separate Accounts Asia Pacific and Fund Manager of LAVT II, commented: “This transaction supports our strategy of value creation by focusing on precincts with corporate density, connectivity and excellent amenities. Macquarie Park embodies all of these characteristics.”

Joshua Mudge, Head of Acquisitions Australia, added: “This transaction builds upon our strong track record in Macquarie Park. The robust demand for office space in the precinct, coupled with its established amenities and connectivity are projected to drive strong long-term rental growth.”

The transaction was brokered by Colliers in conjunction with Knight Frank.

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”) has completed the acquisition of a prime new-build residential asset in Frederiksberg (Copenhagen), on behalf of its open-ended pan-European LaSalle E-REGI fund.

The transaction represents LaSalle E-REGI‘s first investment in a residential property in Copenhagen, exemplifying the Fund‘s appetite for best-in-class residential assets in Europe’s key cities. It follows the recent acquisition of ‘Lacus Quartier’ in Berlin, which provided a strategic foundation for further growth in the residential sector for the Fund. Copenhagen, underpinned by its strong fundamentals and buoyant growth forecast for disposable income, was ranked as the eighth strongest city in LaSalle’s 2021 European Cities Growth Index and is earmarked as a key market for LaSalle.

The property is located on H.C. Ørsteds Vej in a vibrant residential area of Frederiksberg, in central Copenhagen. The location provides excellent public transport access with a bus stop directly in front of the property and a metro station less than five minutes’ walk. It benefits from close amenities, such as Frederiksberg High Street, as well as the pedestrianised District of Copenhagen and recreational and green areas such as The Lakes and the “Assistens Cemetery” park. Additionally, the Forum, which hosts many concerts and art exhibitions, as well as both Copenhagen University and Copenhagen Business School are located nearby.

Built in 2019, the asset currently operates with very low carbon emissions and boasts an exceptional energy efficiency rating, which is supported by rooftop solar panelling. The building comprises over 3,800m² with 24 high-quality residential apartments which range from one to six rooms and a ground-floor commercial unit which is currently let to leading Danish grocery store chain Netto. The property also holds 40 parking spaces.

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, commented: “This acquisition marks a key milestone in the Fund’s strategy to further diversify its country and asset allocation by adding its first Danish residential property. The asset’s location, combined with its strong sustainability credentials and the robust demand for residential space in central Copenhagen, is projected to drive strong long-term rental income.”

Jérôme Hamelin, Head of Transactions Western Continental Europe at LaSalle, added: “The asset is characterised by its strong fundamentals in a central urban location with excellent connectivity and amenities. In addition to being a high quality, resilient asset in a highly sought-after residential area, it also supports the Fund’s sustainability strategy with its state-of-the-art energy efficiency characteristics.”

LaSalle was advised on the transaction by Keystone Investment Management, who will assist in managing the asset, Accura (Legal), X-Project (Technical) and KPMG (Tax). EDC advised the vendor on the sell-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 $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”) announced its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), expanded its portfolio through a joint venture acquisition of 21 mid-bay industrial properties in the Greater Toronto Area (“GTA”) in partnership with an international capital source. The properties total nearly 810,000 square feet and are strategically located in the Mississauga industrial node, the premier submarket for servicing Canada’s largest city and just a short drive to Pearson International Airport. LCPF is participating in the acquisition through its value-add sleeve.

The acquisition represents a compelling value-add opportunity for both partners with near-term upside given rents are 60 percent below market rate and the weighted average lease term is just 1.5 years. Toronto is North America’s third largest industrial market and is land constrained due to protective zoning in the surrounding “Greenbelt” area. Historically, these factors have  created strong tenant demand for industrial property, driving vacancy for industrial product in the GTA to 0.9 percent, the lowest of any North American market.

John McKinlay, CEO of LaSalle Canada, said: “We’re thrilled to execute this transaction with our international partner, which helps both parties achieve our goal of increasing our exposure to well-located assets in the industrial sector. We feel our track record of successfully executing on all types of industrial investments, whether they are core, value-add or development, positions us well to create value and generate returns even in a hyper-competitive market such as Toronto.”

Mike Cornelissen, LaSalle Senior Vice President of Acquisitions, added: “This portfolio aligns with all of our preferred attributes in terms of mid-bay product type, location, scale and upside. It’s rare to find such well-located, quality industrial properties in the Greater Toronto Area, and we’re excited about the rental upside given the portfolio’s short weighted average lease term. We appreciate the efficient transaction process with our partners, and believe the assets will meaningfully enhance our portfolios.”

The portfolio is 98 percent leased, with buildings ranging from 18,000-81,000 square feet. The properties are designed to accommodate a wide range of tenant uses, including standalone buildings for single tenants.

The GTA stands out as one of North America’s top industrial markets, driven by high population growth through immigration and exceptional rent growth. This population growth should continue to drive e-commerce demand which relies on well-located mid-bay industrial product. Through the last three years, GTA’s industrial market rents have experienced a compound annual growth rate of 20 percent, meaningfully outpacing the 8-12 percent growth seen in top US markets over that same period.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$7 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

About LaSalle Canada Property Fund (LCPF)

LCPF is an open-ended fund targeting core properties in major markets across Canada. The fund is targeting commitments from Canadian and global institutional investors seeking access to the Canadian real estate market through a diversified, income-oriented vehicle. Launched in 2017, the fund aims to provide investors with immediate exposure to a diverse and mature portfolio comprised of office, industrial, mixed-use, retail and multifamily assets.  Through its near-term pipeline of potential future investments, the fund will seek to take advantage of mispriced assets as it continues to grow.

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”) has completed the acquisition of ‘Lacus Quartier’ in Berlin on behalf of the pan-European LaSalle E-REGI fund.

LaSalle signed to acquire the new development from BUWOG in December 2020. The scheme opened its doors to residents for the first time in May 2021 and, following its first 12 months in operation, it has now achieved a 94% occupancy rate, demonstrating the strength of the asset’s offer and location to residents seeking high-quality rental homes in Berlin’s Weißensee district.

The scheme includes 230 high-quality apartments, between 35 and 113 m2 in size, and 88 of the units have a balcony or terrace. Car parking spaces and several e-charging stations are located in the building’s underground garage, and bicycle parking is available outdoors. The courtyard offers a plethora of leisure facilities for families such as a playground, table tennis and a racetrack for children. The property is managed by MVGM.

The neighbourhood is located in the up-and-coming district of Berlin-Weißensee between Gäblerstrasse, Gustav-Adolf-Strasse and Schmohlstrasse within Pankow, the capital’s most populous district. Weißensee benefits from a quiet and family-friendly environment, good public transport links and close proximity to the popular and steadily growing district of Prenzlauer Berg. A population increase of more than 10%[1] is expected for the entire Berlin-Pankow district by 2030.

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, commented: “This acquisition marks a significant milestone for LaSalle E‑REGI, providing a strategic foundation to further growth in the residential sector for the Fund. We continue to deliver on our strategy to diversify the Fund’s sector allocation with best-in-class assets, prioritising the strongest cities across Europe, which will provide long-term stable income for our investors.”

Antonia Muelsch, Head of Transactions, Germany, at LaSalle, added: “As evidenced by Lacus Quartier’s high occupancy rate in such a short space of time, this market is experiencing strong demand of high-quality rental homes. With its diverse mix of one- to four-bedroom apartments, sophisticated amenities and excellent location, Lacus Quartier is attractive to a wide variety of resident demographics such as families, singles and older residents, and is set to provide secured and sustainable income for the Fund into the future.”

LaSalle was advised by Mayer Brown LLP (Legal), Witte Projektmanagement (Technical), KPMG (Tax) and CBRE (Buy-Side-Advice). Luther LLP (Legal) and BNP Paribas Real Estate GmbH (Transaction Broker) acted for the seller.

[1] Source: StatisticsDepartment Berlin-Brandenburg 2013/2019 / Report on population forecast for Berlin and the districts 2018 –2030

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”) has completed the acquisition of a fully pre-let senior living property in central Toulouse through a forward-funding agreement with the French developer Cogedim. The transaction has been made on behalf of Encore+, LaSalle’s flagship pan-European fund, and represents the Fund’s first investment in the senior living space.

The acquisition also represents LaSalle’s first investment in senior living in continental Europe and builds upon its expertise in and exposure to the sector in the UK.  

With a newly-established Europe-wide Living and Hospitality asset management platform – currently responsible for £3 billion (€3.6bn) of assets, with 13,000 beds across student housing, build-to-rent, senior living, healthcare and hotels – LaSalle is set to grow its presence in alternative sectors across Europe.

Quai Saint-Pierre, the senior living property in Toulouse, will comprise three connected buildings with over 4,500m² in total area, including 89 flats and 43 car parking units. The property will offer excellent amenities to its residents across almost 700m2 of communal spaces, including a restaurant, swimming pool, TV room, library, fitness room, terraces and gardens.

Cogedim Club, the developer’s in-house and senior living management operator, will manage the asset following completion of construction, which is scheduled for Q2 2024.

Located in the city-centre Capitole district of Toulouse, the asset will benefit from its excellent macro and micro location. Toulouse is the fourth largest city in France and one of the country’s most attractive urban areas, experiencing a population growth of twice the national average between 2012 and 2017. The city is well-connected to Paris via a high-speed train line and, located between the Pyrenees and the Mediterranean, enjoys a temperate climate. On a micro level, the asset is situated in one of the most sought-after and affluent areas of the city, positioned right alongside the banks of the Garonne River. The building will be well-served by close links to public transport, major road networks and Toulouse Airport.

Beverley Kilbride, Head of France and Head of Transactions & Asset Management Europe at LaSalle, said: “This is a landmark transaction for LaSalle as we drive forward our strategy to increase our footprint in alternative sectors across Europe. The market fundamentals are very strong in France, and the combination of long-term demographic changes and the shifting needs of Senior Services Residences has fuelled strong investor demand in the senior living sector over recent years. We look forward to strengthening our portfolio in this area.”

David Ironside, Fund Manager for Encore+ at LaSalle, commented: “This forward-funding deal is a significant milestone, marking our first step into the senior living sector. This forms part of our strategy to increase exposure of Encore+ to alternative property sectors, diversifying our existing asset portfolio. The senior living market is growing as citizens increasingly look to avoid social isolation later in life and reside in higher-quality, fit-for-purpose homes, which fully provide for their needs. Given the long-term letting and its pre-let status, the asset will provide secured and sustainable income for the Fund into the future.”

LaSalle was advised on this transaction by Reed Smith, KPMG, ETYO and CBRE. JLL Capital Markets Residential advised the vendor.

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, has acquired a logistics campus in Venlo, the Netherlands, on behalf of Encore+, the firm’s flagship continental European open-ended fund.

Located in the Tradeport logistics hub in Venlo, the Netherlands’ largest logistics market and a key gateway for the European consumer goods market, the campus is situated at the intersection between the major A67 and A73 highways and is easily accessible via the Hutchinson rail terminal as well as the barge terminal. These direct connections by rail, road and river barge allow quick and easy distribution to Germany, Belgium, and France as well as other parts of the Netherlands. Venlo’s logistics market is characterised by high demand and limited supply and has consolidated strongly during the last five years.

The logistics asset currently comprises eight high-quality warehouse units and an additional warehouse which is under construction is set to be delivered by Q4 2022. This new logistics facility will have a total area of 74,000 m² and will include cutting-edge technical specifications, and strong sustainability features such as LED lighting and solar panel roofing.

David Ironside, Fund Manager for Encore+ at LaSalle, said: “The purchase of this logistics campus in Venlo on behalf of Encore+ expands our footprint in one of the most important logistics markets, not only in the Netherlands but also all of continental Europe. Having already invested in an asset in the area, we are convinced of the market’s increasing importance and potential for continued long-term growth, facilitated by outstanding domestic and international transport links.”

Jérôme Hamelin, Head of Transactions, Western Continental Europe at LaSalle: “This purchase exemplifies our investment strategy of targeting prime logistics assets in Europe in sought-after and top-of-the-range markets. The combination of strong sustainability credentials, state-of-the art building specifications and compelling market fundamentals singled this asset out as a particularly compelling investment proposition.”

LaSalle was advised on the acquisition by Solid Attorneys (Legal), Arcadis (Technical & Environmental), Deloitte (Tax) and Savills (Commercial). The vendor was advised by CMS (Legal & Tax) and TLF Real Estate (Commercial).

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.

A fund managed by TE Capital Partners and a fund managed by LaSalle Investment Management, announced today through their joint venture company, Dragon Peak Pte Ltd (“Joint Venture”) that it has completed the acquisition of 140 Cecil Street, a 17-storey office building also known as PIL Building on an 1,815 square metre (approx.19,539 sq ft) site within the Singapore’s Central Business District (“Property”).

The Property is in the highly sought-after prime Central Business District (“CBD”) location with excellent connectivity to public transportation including four major train stations situated within three to eight minutes’ walk. Well nestled at the confluence of the prestigious Cecil Street and the vibrant Telok Ayer heritage precinct, famed for its exciting F&B offerings amongst beautifully designed conserved shophouses, office occupants will enjoy seamless accessibility and amenities within the area. The Joint Venture plans to redevelop the Property into a Grade A office building featuring Green Mark Platinum Certification, a high floor to ceiling height of 4.9 metres and efficient floor plates which would provide ample flexibility for single or multitenant use. The building will offer excellent views over the CBD as well as the bustling Telok Ayer precinct. TE Capital Partners will be the operating partner for the Joint Venture.

As the first partnership between TE Capital Partners and LaSalle Investment Management, this synergistic tie-up represents the vote of confidence both managers have in the Singapore office sector. Singapore has a strong reputation as a stable and resilient property market with an enviable track record for mid- to long-term capital value growth and preservation. It has performed well during the pandemic and stands out as one of the most preferred office investment destinations in the region.

Emilia Teo, Managing Director, TE Capital Partners said, “On behalf of our shareholders and investors, we are pleased to add this strategic asset in Singapore to our assets under management via this JV with LaSalle Investment Management. We have seen increasing office demand in the Singapore CBD from the technology and financial services tenants and are expecting a moderate level of new supply coming into the market in the next few years.”

Terence Teo, Managing Director, TE Capital Partners said, “We are confident that this opportunity can allow the Joint Venture to capitalise on an upswing in the Singapore office market and grateful to our partners and stakeholders for entrusting us to deliver a state of the art, modern and sustainable new development within the CBD cityscape.”

Claire Tang, Co-CIO Asia Pacific, LaSalle Investment Management said, “This asset is a welcome addition to our portfolio as we continue to witness increasing participation from global institutional investors in the Singapore office sector and sustained occupier demand from global tech companies and financial institutions amidst the pandemic.”

George Goh, Head of Acquisitions and Asset Management, Southeast Asia, LaSalle Investment Management said, “Together with our JV partner, we are delighted to be given the opportunity to reshape and rejuvenate this part of Singapore’s prime CBD through developing an institutional class office asset that meets the dynamic needs of today’s and tomorrow’s occupiers.”

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”) has acquired Verona DC1, a fulfillment center located in Verona, Italy, a center of strategic importance connecting northern and southern Europe. The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund, from DeA Capital Real Estate SGR, through Fondo Logita, on behalf of SEGRO European Logistics Partnership (“SELP”).

The state-of-the-art e-commerce distribution hub was built in 2019 by Vailog (a SEGRO Group Company) and comprises a lettable area of 128,000 sqm split across a ground floor area, mezzanine spaces and office and service areas. Built to the highest environmental and technology standards, the hub achieved a DGNB Platinum level certification, which recognises the environmental, economic, sociocultural, functional and technical quality of assets.

The distribution hub is situated within the economic powerhouse belt of northern Italy, which serves as a strategic gateway to the southern European market. Located in Verona, the hub benefits from excellent links to road networks connecting to France and Austria, as well as access to the European route E45, the longest north-south route in Europe. Italy has the second largest manufacturing industry in Europe and its logistics market enjoys strong fundamentals and growth prospects, due to the expected doubling of e-commerce penetration in the country by 2024.

The asset is leased to the Italian subsidiary of one of Europe’s leading online fashion retailers. As a major market player, the company has demonstrated sustained commitment to the centre by installing advanced automation and sortation systems at the site, alongside agreeing a long-term tenancy agreement.

David Ironside, Fund Manager for Encore+ at LaSalle, said: “Verona DC1 further increases the exposure of Encore+ to the fast-growing European logistics market. The transaction comes at an opportune moment as we continue to enhance our portfolio by identifying strategic assets that sustain strong and stable returns for our investors.”

Francesco Coviello, Head of Transactions for Southern & Central Europe at LaSalle, added: “This logistics asset is truly best-in-class, with outstanding sustainability credentials in a market with compelling fundamentals. This latest addition to the portfolio comes off the back of recent successful acquisitions undertaken on behalf of Encore+ across continental Europe. We look forward to continuing to grow our exposure to exceptionally attractive logistics assets.”

LaSalle was advised on this transaction by K&L Gates (legal), Studio Pirola (tax), JLL (buy-side advisory) and SPI Italia (technical and sustainability advice).

SELP was advised by Apollo & Associati (legal), Nephos and CBRE (technical), CBRE (sell-side advisory) and KPMG (tax).

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“) 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.

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”) 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.

LaSalle Investment Management (“LaSalle”) today announced it completed the final close of LaSalle Canadian Income & Growth Advantage Fund (“CIG Advantage”, the “Fund”) at an aggregate total of C$306 million. The Fund secured commitments from institutional European capital sources and includes a co-investment vehicle. This is LaSalle’s fifth Canadian value-add fund.

John McKinlay, CEO of LaSalle Canada: “Canada continues to stand out as an excellent market for transparent, income-driven investments for investors around the world. This closing highlights our past success and the trust we’ve built with investors to successfully execute our value-add strategy.”

Added Chris Lawrence, Sr. Managing Director and Head, Value-Add Strategies at LaSalle Canada: “As Canada’s economy continues to strengthen, we expect there to be significant opportunities in key property sectors that the Fund can capitalize on to drive returns for investors. We’re excited to build on our successful track record of value-add investing through a hands-on, active approach to sourcing, active asset management and realization.”

The Fund offers investors the expertise and knowledge of LaSalle’s established Canadian real estate platform which has been operating since 2000, and provides investors with the opportunity to access potential income and capital appreciation in Canada’s real estate market. CIG Advantage will target 17-19 percent gross returns.

The Fund’s investment strategy targets value-add real estate opportunities across multiple property sectors with a focus on properties that can be upgraded and repositioned as core. CIG Advantage will focus on Canada’s top six metro areas: Vancouver, Calgary, Edmonton, Toronto, Ottawa and Montreal.

Continuation of Strong LaSalle Canada Performance

The final close of LaSalle Canadian Income & Growth Advantage Fund continues a strong year for LaSalle’s Canadian platform. LaSalle Canadian Income & Growth Fund IV completed three key dispositions totaling approximately C$160 million, bringing the fund closer to full liquidation as outlined in its strategy:

• 5515 North Service Road: An 86,000-square-foot Class A office property in Burlington, Ontario. The property was upgraded through a full elevator upgrade, a new main lobby, new common areas on each floor and a new HVAC system. The sale yielded a gross levered IRR of approximately 19 percent.
• 2 and 30 International: Two class A office properties in Toronto’s West End totaling more than 122,000 square feet. 2 International was demolished and built ground-up, and 30 International underwent extensive renovations, positioning these properties for stable occupancy of over 97 percent when sold. The sale yielded a gross unlevered IRR of approximately 12.7 percent.
• Mission Junction Shopping Centre: Fund IV sold the open-air, grocery-anchored retail space in Vancouver’s District of Mission. Purchased in 2016, the property was expanded and stabilized at 95 percent occupancy when sold. 75 percent of tenants were national tenants, compared with just 65 percent when the property was purchased. The sale yielded a gross IRR of approximately 15.5 percent.

Additionally, LaSalle Canada Property Fund (“LCPF”), LaSalle’s flagship core Canadian fund, made several marquee acquisitions including:

• A 50 percent stake in Maison Manuivie, a trophy office tower in Montreal, and Guildford Town Centre, a trophy retail asset in Vancouver with a parcel slated for multifamily development. LCPF purchased the portfolio from Ivanhoe Cambridge.
• A three-building, 610,000-square-foot logistics portfolio outside of Toronto.
• A 47.5 percent stake in the Rideau & Chapel multifamily development. The property will comprise a 27-story, 315-unit, Class A apartment property in downtown Ottawa.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$7 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

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.

LaSalle Investment Management (“LaSalle”) recently announced that it has formed a strategic partnership with Jingrui Capital to invest in and develop multifamily projects in China. On top of the announcement of the partnership, LaSalle and Jingrui Capital unveiled their first joint acquisition deal for a distressed retail and hotel property in Shanghai. The property is in Shanghai Hongqiao Transportation Zone and will be renovated as a multifamily project, featuring a total of 583 rental units and retail facilities.

Through this partnership, LaSalle expands its multifamily sector footprint in China, demonstrating its long-term commitment to China’s real-estate market. LaSalle follows a research-based investment strategy and has identified multifamily sector as one of its thematic investments in China.

Claire Tang, Co-CIO Asia Pacific and Head of Greater China, LaSalle, said: “China is one of the key strategic markets for LaSalle. We have seen increasing investment opportunities in China’s gradually maturing multifamily market, driven by a favourable investment environment and demographic trends. Our partnership with Jingrui Capital reiterates our confidence in the local market and we will leverage each other’s respective strengths to develop landmark multifamily projects.”

Junfeng Geng, Partner and Vice President of Jingrui Group, and President of Jingrui Capital, said: “The multifamily market in most Asia-Pacific countries is not fully institutionalized yet and therefore we are of the view that the multifamily market may still generate very attractive investment opportunities. This project is just the beginning of our strategic partnership with LaSalle. We look forward to working with LaSalle more closely to develop other leading multifamily projects across the country.”

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”) has acquired FedEx Alfortville, a cross-docking warehouse facility located in a prime urban logistics hub on the outskirts of Paris. The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund, from SCPI Accimmo Pierre, managed by BNP Paribas REIM.

Built in 2002 for TNT (now FedEx) and spanning a net lettable area of over 16,000 m², the facility provides the express delivery company with a strategic location that serves as a hub for last-mile logistics operations.

The property is located within the Val-de-Seine Park urban logistics hub, which has more than 70,000m² of dedicated logistics space and is an established location hosting other notable market players such as DHL and Kuehne & Nagel. Sitting in the Greater Paris Region within the vicinity of the A86 motorway, the property is also near Orly Airport which benefits from a cargo platform. The park can also be easily accessed by public transport and is served by a suburban train station (RER D) less than 2km away.

Beverley Kilbride, Head of France and Head of Transactions & Asset Management Europe at LaSalle, said: “The acquisition of FedEx Alfortville represents another exceptionally attractive opportunity in a key market. It is reflective of the team’s success in identifying last-mile urban logistics assets with significant growth opportunities which continue to attract strong investor demand.”

David Ironside, Fund Manager for Encore+ at LaSalle, commented: “FedEx Alfortville constitutes another meaningful development for Encore+ as we increase its exposure to urban, last-mile logistics assets in major European cities. The combination of a great location and a blue-chip tenant provides strong long-term rental income, enhancing the investment proposition and running in alignment with our overall investment strategy of diversifying our strong asset portfolio across key markets.”

LaSalle was advised on this transaction by Reed Smith, KPMG, Drees & Sommer and CBRE.

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 retail and commercial park “Las Mercedes Retail Park” in the east of Madrid on behalf of its open pan-European fund Encore+ (“the Fund”).

Completed in 2015, the retail park comprises a total lettable area of just under 22,000m². The asset is fully let and anchored by the DIY retailer Bauhaus as well as the discount grocery store Aldi. In addition to already existing solar panels, further measures to increase energy efficiency and sustainability are planned over the long term.

The property is located in the Barajas district of Madrid, within a higher-than-average income catchment area of about 440,000 inhabitants. There are numerous shopping and leisure facilities in the immediate vicinity, including the highly frequented Plenilunio shopping centre. The neighbouring Mercedes Business Park is home to more than 12,000 employees of numerous international companies such as Coca-Cola, Vodafone, Fedex and DHL.

Las Mercedes Retail Park is also located close to the airport and the A-2, M-11 and M-21 motorways. The location is less than 30 minutes by car from the centre of Madrid and has excellent public transport connections.

David Ironside, Fund Manager for Encore+ at LaSalle Investment Management, says: “With Las Mercedes Retail Park, we have identified an exceptionally attractive opportunity to increase exposure of Encore+ to high-value, income-generating retail assets with a heterogeneous industry profile and potential for alternative uses. The transaction comes at an opportune moment when the vacancy rate in Madrid is historically low while the new development pipeline is limited. The location is compelling as an established urban retail and office submarket, providing a mix of strong-performing long-term tenants which will generate diversified cash flows and sustain strong returns for our investors.”

LaSalle was advised on this transaction by Simmons & Simmons (legal & tax), Hollis Global (technical & sustainability) and RPE (commercial). The seller has been advised by Cuatrecasas (legal) and Cushman&Wakefield (commercial).

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.

LaSalle Investment Management (“LaSalle”) has raised JPY 33 billion (US$289 million) in blind-pool capital through its flagship open-end core fund, LaSalle Japan Property Fund (“LJPF”). This is the first time in the domestic market that an open-ended diversified core fund has raised blind-pool capital of this scale.

LJPF has acquired eight properties for approximately JPY 17 billion (US$149 million) by deploying part of the newly raised equity, thereby increasing its total assets under management to JPY 165 billion GAV (US$1.45 billion). The eight newly acquired properties include one large-scale logistics facility in the Tokyo area and seven high-quality residential properties in the Osaka and Nagoya metropolitan areas. The acquisition means that LJPF now has 24 properties in its portfolio.

The equity raised is from a well-diversified group of domestic investors, including financial institutions, pension funds and operating companies.

LJPF was launched in November 2019 with approximately JPY 100 billion (US$876.5 million), aiming to offer Japanese and international investors a wide range of real estate products. It invests in four major asset classes – logistics, residential, retail and offices – in four major metropolitan areas: Tokyo, Osaka, Nagoya and Fukuoka.

Keith Fujii, Head of Asia Pacific at LaSalle Investment Management, said: “Japan has long been a strategic market for LaSalle. This successful blind-pool equity raised is a testament to the strong track record our team has built up and continued investors’ trust and confidence in our capability to seize market opportunities and create long-term values.”

Ryota Morioka, Executive Officer at LaSalle Investment Management, K.K. and LJPF Fund Manager, said: “We believe that logistics facilities and residential assets in major metropolitan areas continue to be one of the promising investment opportunities in the current Covid-19 situation. The newly acquired assets increased the fund size and portfolio diversification. We will continue to acquire high quality assets selectively and we aim to achieve JPY 200 billion GAV (US$1.75 billion) in the near term, and JPY 300 billion GAV (US$2.63 billion) by the end of 2024.”

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 portfolio of three residential buildings across Copenhagen, Denmark. The assets were acquired from P+, the Danish pension fund, on behalf of Encore+, LaSalle’s Flagship European open-ended fund.

The 270 residential units that make up the portfolio are situated throughout Copenhagen, all in attractive locations with excellent amenities. Most units have balconies, and shared green areas and courtyards. Combined, the buildings also have around 1,000 square metres of commercial/retail space.

As of the purchase date, the buildings are almost fully occupied, and the Fund anticipates strong future rental income from the assets.

David Ironside, Fund Manager for Encore+, said: “We are pleased to announce the purchase of such a strongly performing residential portfolio in a leading European city. We believe well located assets such as these will continue to generate a long-term income stream for our investors complimenting the diverse return profile of the Fund.”

Alexandre Arhuis-Grumbach, Fund Transactions Manager at LaSalle, said: “We identified this specific strategy in Denmark to access high quality resilient assets such as this residential portfolio in Copenhagen, with the intention of holding them for the long term, and we are interested in exploring similar acquisition of this type.”

LaSalle was advised by Keystone Investment Management who will assist in managing these assets, Accura, KPMG and Drees and Sommer.

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 its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), expanded its portfolio with the acquisition of a portfolio of three properties in Toronto in partnership with TAS, an industry leader in impact-driven development and asset management. These acquisitions represent the first phase of a broader 50/50 joint venture between LaSalle and TAS that is targeting to deploy $120 million in capital, inclusive of planned capital expenditures.

The investment exemplifies new opportunities LaSalle is seeing for LCPF within its defined investment guidelines, which is to focus on adaptive re-use, lease-up and stabilization of properties in up-and-coming neighborhoods throughout Toronto. In this particular instance, the investment thesis is underpinned by environmental and social best practices while still delivering attractive overall investment returns for LCPF.

The joint venture’s sustainability initiatives targeted for implementation should improve the acquired properties’ energy efficiency and reduce carbon footprints through adaptive re-use instead of demolition and new construction. The joint venture will also aim to promote social initiatives anchored by the joint venture’s transformation of former industrial buildings into what the joint venture hopes will be lively community hubs in partnership with small businesses, charitable and not-for-profit organizations, some of whom will pay below-market rents.

The three initial acquisitions are:

• 142 Vine Avenue: a 2-story, 19,000-square-foot light industrial property located in the heart of Toronto’s Junction area that will be repositioned to an energy efficient, in-fill flex office asset for commercial, community and arts uses.
• 55 Milne: a 130,000-square-foot light industrial property that was previously a single-tenant manufacturing facility, which will also be repositioned into an energy efficient, community-serving property.
• 772 Warden: Located in the emerging Golden Mile neighborhood with access to public transit, this more than 84,000-square-foot property will retain its light industrial character and include community-serving uses.

The acquisition brings LCPF’s value-add allocation up to 5.5 percent, which is within LCPF’s20 percent value-add cap, and will increase its portfolio on a pro forma basis to approximately $1.8 billion.

John McKinlay, CEO of LaSalle Canada, said: “This is an exciting, unique and worthy acquisition for our core flagship LaSalle Canada Property Fund in that it embodies the application of LaSalle’s key ESG initiatives while simultaneously positioning LCPF for attractive investment returns based on our underwriting. We’re thrilled to partner with TAS, an experienced industry leader in this space, on this project to thoughtfully revive obsolete spaces, enhance neighborhoods and give communities spaces they can use for good.”

Mazyar Mortazavi, President & CEO of TAS, said: “We are proud and excited to drive profit and purpose together with LaSalle through this exceptional portfolio of community hubs. The partnership builds on TAS’s proven track-record of delivering outsized value in emerging Toronto neighborhoods, and will be leveraged to deliver a broad range of impact objectives, including building social capital, expanding affordability and equity, and tackling climate change.”

Mike Cornelissen, Senior Vice President of Acquisitions, added: “There is significant market dislocation in Toronto for repurposing rather than demolishing certain assets, and a tangible opportunity to invest ahead of the path of growth in areas like the Golden Mile and the Junction. This investment thesis capitalizes on that opportunity, with the added benefit of making spaces available for community organizations that can carry out their valuable missions. I strongly believe that with LaSalle and TAS aligned on this project, we can create significant positive impact for both the community and our investors.”

LaSalle Canada Property Fund recently received a 5-star rating in the 2021 Global Real Estate Sustainability Benchmark (GRESB), the highest attainable rating. The GRESB rating is based on a fund’s GRESB Score and its quintile position relative to all participants in the assessment. Those funds in the top quintile are awarded a 5-star rating. It’s the second year in a row the Fund has received a 5-star rating, and it improved its overall score over the prior year.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$7 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

About TAS

TAS is an unconventional impact company that promotes connected neighbourhoods and, caring, committed communities. As a Certified B Corporation, TAS is an industry leader in impact development with an active pipeline and portfolio totaling more than 6 million square feet across 18 properties throughout the Greater Toronto and Hamilton Area. 

TAS focuses on tackling climate change, expanding affordability and equity, and building social capital to create neighbourhoods – and ultimately cities – where people can thrive and belong. TAS partners with investors to shape and amplify this vision. Join in by visiting tasdesignbuild.com and following our journey on LinkedIn, Instagram, and Twitter. 

About LaSalle Canada Property Fund (LCPF)

LCPF is an open-ended fund targeting core properties in major markets across Canada. The fund is targeting commitments from Canadian and global institutional investors seeking access to the Canadian real estate market through a diversified, income-oriented vehicle. Launched in 2017, the fund aims to provide investors with immediate exposure to a diverse and mature portfolio comprised of office, industrial, mixed-use, retail and multifamily assets.  Through its near-term pipeline of potential future investments, the fund will seek to take advantage of mispriced assets as it continues to grow.

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 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.

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.

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.

LaSalle has completed the purchase of a state-of-the-art logistics warehouse in the Rhine-Neckar metropolitan region, located in Ladenburg east of Mannheim in south-west Germany. The warehouse was acquired as a forward-funding deal from PGIM Real Estate and Panattoni on behalf of Encore+

The logistics property, which was completed in the summer of 2021, comprises a total of 56,864m² of multifunctional space. This extends over three units, ranging from 8,000 to almost 23,000m², which can be further divided up.  Developed with the highest standards of sustainability, the property produces part of the energy required for its running via a photovoltaic system on the roof; this provides a habitat for the locally native lizards. The lighting is provided exclusively by LED technology, and charging stations for electric vehicles have also been installed on the site. The buildings have been developed according to the DGNB Gold standards. In addition, the award of the platinum certificate has already been applied for.

The property is leased on a long-term basis to the sole user Neska Schifffahrts- und Speditionskontor. The logistics service provider is a wholly owned subsidiary of Häfen & Güterverkehr Köln (HGK).

Ladenburg is strategically located in one of the most sought-after logistics submarkets and economically strongest regions in Germany, where numerous listed corporations, small and medium-sized companies and start-ups are located. With its proximity to the major motorways of the A5, A6 and A67, connecting to the national rail network as well as to the rivers Rhine and Neckar, the location ensures excellent accessibility of important container terminals. With the inland ports of Mannheim and Ludwigshafen, the Rhine-Neckar region is an important shipment point, especially for the chemical industry, as well as being close to Frankfurt Airport.

David Ironside, Fund Manager for Encore+ at LaSalle, comments: “With this acquisition, we are increasing our allocation to the logistics sector – a segment that plays an important role in our long-term planning, not least thanks to its resilience to crises. This is because the German logistics market is on an upward trend. I am pleased for our investors that we have succeeded in acquiring this property for Encore+. Due to the long-term letting, the multifunctional space use possibilities as well as the state-of-the-art equipment, the property fits perfectly into our fund portfolio.”

Andreas Wesner, Head of Transactions Northern Continental Europe at LaSalle, adds: “The property is excellently located in an environment with scarce logistics space. The Rhine-Neckar metropolitan region is one of the strongest business locations in Germany and is also an important logistics market. As a result, the vacancy rate is low and the supply of space sizes for comprehensive ambitious projects is very limited, which is reflected not least in above-average rising rental prices. An excellent starting point from which the property as well as our investors will benefit sustainably.”

LaSalle was advised on the transaction by Hogan Lovells (Legal & Tax), Gleeds (Technical), BrandBerger (Construction Monitoring) and CBRE (Buy-Side). The property was marketed by Colliers.

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 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 has acquired a high-quality logistics asset at the Port of Moerdijk in the Netherlands for its open-ended pan-European fund LaSalle E-REGI (“the Fund”). The property is located in the west of the Dutch province North Brabant near Rotterdam, one of the most important hubs for European and international trade. It was acquired from Savills Investment Management.

Completed in 2007, the warehouse has more than 21,000 square metres of usable space, 21 loading docks and it is fully let to Van der Helm, a Dutch logistics company

The logistics park in Moerdijk is strategically located between Europe’s two largest trade ports, Rotterdam and Antwerp. Both are within less than an hour drive. Moerdijk is the farthest inland terminal accessible to smaller deepsea vessels and forms a well-established logistics hub thanks to its rail and road connections.

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, said: “The acquisition of the asset is a significant strategic investment for the fund, which has achieved an outstanding performance since its launch in 2011 with an average annual total return of 6.6 percent. Our aim is and remains a broadly diversified portfolio of first-class core properties in fast-growing markets. With the acquisition in Moerdijk, we are further expanding the fund’s strategic commitment in one of the most attractive locations for European logistics. The Dutch market excels with consistently stable fundamentals and, particularly in the port logistics sub-sector, high-quality properties such as the Moerdijk asset offer a strong competitive advantage and therefore solid returns for our investors.”

On this transaction, LaSalle E-REGI was advised by Solid Attorneys (Legal), PWC (Tax), Drees & Sommer (Technical & Environmental), and Savills (Commercial). Savills Investment Management was advised by TLF Real Estate (Commercial), Simmons + Simmons (Legal) and Savills (Technical). The transaction was brokered by TLF Real Estate.

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 its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), expanded its portfolio with the acquisition of a portfolio of properties in Montreal and Vancouver. The portfolio, acquired from Ivanhoé Cambridge, includes: A 50 per cent stake in Maison Manuvie at 900 Boulevard de Maisonneuve O, a more than 485,000-square-foot trophy office asset in Montreal. Manulife, whose Quebec headquarters are located in the office tower, will be LaSalle’s 50 per cent partner in the property. 50 per cent ownership of Guildford Town Centre, a top performing super-regional mall in the Vancouver suburb of Surrey. Ivanhoé Cambridge will remain a partner in the property. 50 per cent ownership of an 18-acre development site directly north of Guildford Town Centre. Ivanhoé Cambridge will also remain a partner in the parcel.

The acquisition brings LCPF’s office and retail allocations up to 42 percent and 19 percent of its approximately $1.8 billion portfolio, respectively, and reinforces its investment thesis of adding core, best-in-class assets with long-term tenancy and strong in-place net-operating income.

John McKinlay, CEO of LaSalle Canada, said: “The addition of Maison Manuvie and Guildford Town Centre, along with the opportunity to develop mixed-use assets in a prime location in the Vancouver area represents an outstanding opportunity for us to strategically use our retail weighting while also gaining exposure to Canada’s second largest market in Montreal via the city’s marquee office asset. Additionally, it is rare to find an economically viable development site with residential densification potential in Vancouver, where residential fundamentals are extremely favorable for newly built units. We have long sought to enter these markets, and are excited to do so along with exceptional partners in Ivanhoé Cambridge and Manulife.”

Stephen Robertson, Head of Canada Acquisitions, added: “There continues to be value available in office and retail assets, especially those in irreplaceable locations and with strong tenant demand. Both Maison Manuvie and Guildford Town Centre are premier properties in their respective asset classes in Canada and position LaSalle and LCPF well as fundamentals for office and retail continue to improve.”

Located in Montreal Financial District, Maison Manuvie is 97 per cent leased with a 13.7-year average weighted lease term, and provides tenants direct access to amenities and underground connections to both McGill and Peel subway stations. The property also boasts exceptional sustainability credentials, including: LEED Gold CS and ENERGY STAR® certifications, Building Energy Challenge’s Improved Energy Performance Award, and a 2019 BOMA BEST® certification making it the only building in the Greater Montreal Area that has been awarded the Platinum level.

Guildford Town Centre is 95.5 per cent leased, and continues to attract new-to-market tenants including Uniqlo and Muji. The shopping center underwent $280 million in capital improvements completed in 2013, and is LEED Gold certified.

The parcel, located to the north of Guildford Town Centre, is in the process to be zoned for additional residential density, and could therefore allow LCPF to develop a best-in-class multifamily property, the most expensive and sought-after asset class in Canada. Surrey is a target market for multifamily development as it forecast to outpace the population of Vancouver proper within the next 15 years, and has limited supply of new multifamily product.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$7 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

About Ivanhoé Cambridge

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60,4 billion in real estate assets as at December 31, 2020, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: ivanhoecambridge.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 its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), expanded its portfolio with the acquisition of the Greater Toronto Area Logistics Portfolio (“GTA Portfolio”).

The fund purchased 100 percent of the three-building, Class A logistics portfolio, which totals nearly 610,000 square feet of rentable area. The GTA Logistics Portfolio is fully occupied with predominantly investment-grade credit tenants including a leading global e-commerce and logistics firm, Lear Corporation and Canada’s largest pallet supplier Paramount Pallet. Newly constructed, the portfolio’s weighted average lease term is 8.8 years and leases include annual rent escalations of at least 2.5 percent.

The acquisition brings LCPF’s industrial allocation up to 18.6 percent and reinforces its investment thesis of adding core, best-in-class logistics assets while also reducing its overall exposure to the office sector. The fund recently acquired another Class A industrial distribution property in Brantford, Ontario.

John McKinlay, CEO of LaSalle Canada, said: “The GTA Logistics Portfolio is an exceptional addition to LaSalle Canada Property Fund and positions us to capture the robust tenant demand for well-located, Class A logistics properties. Our conviction in the industrial sector remains strong, and we believe this acquisition will continue to support the strong relative performance of the fund and the sustained interest from multinational and domestic investors.”

The largest building is located at 2300 North Park Drive in the “center-court” market of Brampton, part of the GTA West industrial submarket. The property is in a strategic location with excellent connectivity via five major highways, CN Intermodal and Pearson International Airport all within a 20-minute or shorter drive. The GTA West submarket continues to attract tenant demand, as illustrated by its 13 percent net rent growth in 2020. This property includes a 40-foot clear height, 42 trailer parking positions, secured yard, LEED design and best-in-class building systems.

The remaining two properties are located in the GTA East submarket, at 1652 and 1672 Tricont in Whitby on an infill site that provides immediate access to the GTA’s 400 series highway system and the critical Toronto-Montreal corridor. The properties include 32-foot clear heights, LEED Silver design criteria, ample shipping doors, LED lighting and ESFR sprinkler systems.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$6.6 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

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 has acquired NH Collection Gran Hotel Calderon located on Ramblas Catalunya in the Ensanche district of Barcelona. The hotel has been purchased from NH Group SA on behalf of Encore+, LaSalle’s flagship pan-European fund (“the Fund”).

As the third most visited European city, with over 22 million overnight stays in 2019 Barcelona benefits from a historically strong tourism sector and the market enjoyed steady revenue-per-available-room growth over the last decade, reaching the highest average rate in the Spanish urban market in 2019. As the recovery in international travel steadily accelerates, the city is well positioned to rebuild its leisure and business travel industry as travel recovers.

The 5-star NH Calderon hotel, in the heart of the city is positioned to benefit from this strong demand to come as it is well connected to all areas of the city within a few minutes’ walk of Plaza de Cataluña and only 150m from high quality retail and Gaudi architecture of Paseo de Gracia. It is located within a 20-minute drive of the El Prat Barcelona Airport.

The acquisition highlights the Fund’s commitment to investing in good value opportunities with strong recovery opportunities in exciting urban locations. With a prime location in a global tourist city, the Gran Hotel Calderon acquisition further diversifies and strengthens the Fund’s geographic footprint.

David Ironside, Fund Manager of Encore+ at LaSalle said: “This was a rare opportunity to acquire one of the leading hotels in Barcelona, a city which has been of the strongest and fastest growing hotel markets on the continent. As we diversify geographically and increase our exposure to the alternatives sector, this asset will contribute to the Fund performance.

Francesco Coviello, Head of Transactions for Southern & Central Europe at LaSalle said: “We are pleased to be acquiring the NH Collection Gran Hotel Calderon in Barcelona as we continue to build out our European real estate presence. The combination of the hotel’s prime location, the city’s historically strong leisure sector and the pent-up demand for international travel all serve to highlight the potential this acquisition represents.”

LaSalle was advised by Hogan Lovells for Legal and Tax, JLL Hotels & Hospitality Group as a commercial advisor Hollis Global for Technical.

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 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 has acquired the Villaverde Logistics Portfolio, comprising two new state-of-the-art logistics development projects located in Villaverde, a southern district of Madrid. The developments are targeting a BREAM Excellent sustainability standard. The developments, located at Calle San Dalmacio 17 and Avenida Real de Pinto 83 logistics parks, have been acquired via a forward funding agreement from Engel & Völkers Development Spain, part of Engel & Völkers Group, on behalf of Encore+, LaSalle’s flagship pan-European fund (“the Fund”). Completion of the two developments, which are being delivered by their former owner, is scheduled for Q1 2023.

The district of Villaverde is an attractive logistics location on the southern outskirts of Madrid, benefitting from excellent transport infrastructure, its industrial zone is surrounded by major roads allowing rapid access to several highways and strong connectivity to the city centre, as well as neighbouring municipalities and logistics hubs along the A-4 route. The site itself is particularly well connected, including via the adjacent metro station and Avenida de Andalucia, the main North-South road artery bisecting Villaverde. The scheme will entail the development of a modern Class A logistics park designed for multi-let occupation. The modular design and smaller configuration of individual modules offers occupiers greater flexibility, particularly for smaller to medium-sized firms.

The acquisition demonstrates again the ability of the Fund to invest in value-add opportunities in exciting urban locations. It also marks the return of Encore+ to the Spanish logistics development, following the successful sale of Alcala and Azuqueca De Henares in 2016. Villaverde’s attractiveness as a location and the growth in demand for last-mile facilities, particularly from e-commerce operators, combined with an extremely limited supply of both, available development land and modern suitable stock, are likely to maintain upward pressure on rents for the right quality stock.

Francesco Coviello, Head of Investment for CEE and Southern Europe at LaSalle Investment Management, said: “We are pleased to be forward-funding the development of these properties, in a very well-connected urban location serving a major European capital, as we continue the build-out of a prime European logistics portfolio. Overall, Spanish logistics assets have performed very well in recent years and we expect continued upward pressure on rents.”

LaSalle was advised on this transaction by Hogan Lovells on the legal and tax side and JLL and Tauw on the Technical and Environmental 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.

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 announces that it has acquired a residential development in Berlin on behalf of the LaSalle E-REGI fund (“the Fund”). The project, named ‘Lacus Quartier’, is a development with 230 units. It was acquired from BUWOG and will be completed in April 2021.

The development is located in a quiet and family-friendly part of the improving Weißensee district in Berlin-Pankow. The area benefits from its proximity to the popular Prenzlauer Berg district and its expansion over recent years. It is one of the fastest growing districts in Berlin, with forecast population growth of more than 10 per cent by 2030.

LaSalle was advised by Mayer Brown LLP (Legal), Witte Projektmanagement (Technical), KPMG (Tax) and CBRE (Buy-Side-Advice). The seller was advised by Luther LLP (Legal) and BNP Paribas Real Estate GmbH (Transaction Broker).

Uwe Rempis, Managing Director and Fund Manager for LaSalle E-REGI, said: “This acquisition is in line with the Fund strategy to diversify its sector allocation by focusing on residential, thus generating a long-term stable income stream for the Fund. The Fund is prioritising investments in the strongest cities across Europe and this newly developed asset in Berlin is the perfect foundation to grow its residential exposure.”

Andreas Wesner, Head of Investment Germany, said: “We are very pleased to have been able to implement the Fund’s strategy to increase the residential allocation in the portfolio last year. Residential will remain an important part of our investment strategy in 2021 and following the acquisition of Lindenstrasse in Berlin in September 2020, we have now been able to further strengthen our residential track record with the ‘Lacus Quartier’.”

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”), has acquired a total of 10 properties, one logistics and nine multifamily residential, for approximately JPY 35 billion (US$321 million) through its flagship open-end private core fund, LaSalle Japan Property Fund (LJPF), raising its total assets under management to more than JPY 157 billion GAV (US$1.44 billion).

The 10 newly acquired properties include one large-scale logistics facility located in the Osaka metropolitan area and nine high-quality multifamily properties in the Tokyo metropolitan area. The acquisition means that LJPF now has 16 properties in its portfolio.

Despite the ongoing pandemic, the equity offering was buoyed by a strong appetite for investment in domestic real estate from a wide range of domestic investors. Subscriptions made by major institutional investors, financial institutions, pension funds and operating companies substantially exceeded the expected offering amount to fund the purchase. In addition, LJPF is supported by major lenders in Japan, including syndicate loans from Japan’s megabanks, government-affiliated financial institutions and life insurance companies.

Launched in November 2019 with an investment of JPY 61 billion (US$560 million), LJPF is an open-ended private placement core fund that invests in four major asset classes – logistics, residential, retail and offices – in four major metropolitan areas, namely Tokyo, Osaka, Nagoya and Fukuoka. The 16 properties in the LJPF portfolio have all been selected through LaSalle’s proprietary research and strategy framework, which incorporates all the elements of LaSalle’s DTU+E themes, namely demographic, technology, urbanization and environmental change.

The new assets will further diversify the portfolio by increasing the logistics and multifamily exposure. Demand for residential properties in Tokyo, Osaka and Nagoya, the three largest metropolitan areas in Japan, is expected to remain stable in the post COVID-19 era, because of the employment opportunities, along with high-quality education and healthcare services. These areas also offer a rich array of excellent urban amenities.

Keith Fujii, Head of Asia Pacific at LaSalle Investment Management, said: “These are attractive, well-located quality assets that diversify the portfolio and will provide a steady income. In Tokyo, despite the pandemic, we are seeing relatively stable wages and tight labor markets, which will continue to support the multifamily sector. In the logistics sector, positive real estate fundamentals, continued e-commerce penetration and our ability to execute successfully are the reasons why we find this sector desirable.”

Ryota Morioka, Executive Officer at LaSalle Investment Management, K.K. and LJPF Fund Manager, said: “We believe that logistics facilities and residential housing in major metropolitan areas will continue to generate stable income despite the market uncertainties brought about by the pandemic. In light of the increasing global demand for investment, LaSalle continues to view Japan as a promising investment market, and will keep driving to maximize investor profits by building a diversified portfolio of high-quality, stable core 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.

LaSalle Investment Management (“LaSalle”) announced that its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), expanded its portfolio with investments in an Ottawa multifamily development and industrial property in Ontario.

The fund purchased a 47.5 percent stake in the Rideau & Chapel multifamily development. The project will comprise a 25-story, 315-unit rental apartment building in downtown Ottawa, with entitlements permitting the future construction of an additional 318 units. The first phase will be delivered in Q4 2022. The building is being developed in partnership with Hazelview Investments (formerly Timbercreek Equities Corp) and Trinity Development Group, with Trinity acting as Development Manager.

The acquisition allows LCPF to use a portion of its 20 percent value-add/development allocation to acquire best-in-class, new construction multifamily rental product.

The fund also closed the acquisition of 99 Savannah Oaks Drive, a modern, 527,568-square-foot, 30-foot clear height, fully leased distribution centre located in Brantford, Ontario with excellent highway connectivity. This high-quality, multi-tenant property benefits from the strong demand of the Greater Toronto Area (GTA) industrial market that has driven growth to the peripheral markets. Brantford is strategically located in a growing industrial market, with proximity and highway access to several key destinations including the US border crossing near Buffalo, GTA West “centre ice” logistics hub, Hamilton Cargo Airport and Cambridge/Kitchener/Guelph.

John McKinlay, CEO of LaSalle Canada, said: “We are pleased to complete these transactions as they fit squarely within LCPF’s objective to provide investors with immediate exposure to a diverse and mature portfolio of assets focused in Canada’s six major markets. Our conviction in well-located, Class A industrial and multifamily properties remains strong, and we believe these acquisitions will continue to support the strong relative performance of the fund and the sustained interest from multinational and domestic investors.”

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$6.6 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

About LaSalle Canada Property Fund (LCPF)

LCPF is an open-ended fund targeting core properties in major markets across Canada. The Fund is targeting commitments from Canadian and global institutional investors seeking access to the Canadian real estate market through a diversified, income-oriented vehicle. Launched in 2017, the Fund aims to provide investors with immediate exposure to a diverse and mature portfolio comprised of office, industrial, mixed-use, retail and multifamily assets. Through its near-term pipeline of potential future investments, the Fund will seek to take advantage of mispriced assets as it continues to grow.

About Hazelview Investments

Hazelview Investments is an active investor, owner and manager of global real estate assets, with over 20 years of operating experience and $9 billion in assets under management. Hazelview employs a global investment and asset management team of more than 70 people in its offices in Toronto, New York, Hong Kong and Hamburg. For more information visit http://www.hazelview.com and LinkedIn.

About Trinity Development Group

Trinity Development Group (TDG), a Toronto-based, full-service real estate development company, has developed over 25 million square feet of retail and mixed-used space across Canada since its inception in 1991. The company focuses on urban multi-residential developments in Toronto and Ottawa. TDG has over 500 units recently delivered or under construction, with another 7,500 units in various stages of entitlement and design stages.

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.

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”), 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 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 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 has acquired a modern residential asset in the centre of Berlin on behalf of the Encore+ Fund. This is the first residential investment since the inception of Encore+ in 2006.

This is Encore+’s first residential investment and is a result of the Fund’s strategy to increase its exposure to alternative assets, particularly in the strongest Western European cities. Berlin has seen a major uplift in demand as the city’s status has risen in recent years, driven by its success as a hub for digital and creative industries as well as the expansion of Government departments returning to the City. Furthermore, it was recently ranked the world’s most liquid commercial property market.

Located at Lindenstrasse 73-75b, the residential asset was constructed in 2014 and consists of approx. 200 units, each with a balcony or a terrace, and offers underground parking. It is centrally situated in Berlin’s popular Kreuzberg district, one of the most attractive and lively neighbourhoods in the city with a mix of offices, retail, gastronomy, and cultural attractions. The asset lies in an excellent location, only a short walking distance from Gendarmenmarkt and Checkpoint Charlie.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “We are really happy to continue our asset typology diversification thanks to this acquisition. This is an exciting first residential investment that will provide Encore+ with long-term stable income. Berlin’s residential market is highly liquid and offers a very beneficial supply/demand dynamic, with current supply covering less than 1 per cent of actual housing demand.

Andreas Wesner, Head of Investment for Germany at LaSalle Investment Management, said: “This is the ideal first residential investment for the Fund since it is a modern building in an excellent location in Berlin. In the past months we were refining Encore+’s investment strategy in the residential segment and Lindenstrasse 73-75b fulfils all our targeted criteria. The asset is a great starting point for building up a portfolio of similar assets for our investors.

LaSalle was advised on this transaction by Mayer Brown LLP (Legal), Arcadis (Technical), CBRE (Buy side) and Cushman & Wakefield (Valuation). The seller was advised by Greenberg Traurig LLP (Legal) and Colliers (Transaction Broker).

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 completed the sale of a core logistics asset in Greater Milan, Italy for €35 million to AXA Investment Management. The disposition follows a strategic decision of the Fund to exit the Italian market while creating superior investment performance.

The asset is located in Liscate, approximately 16 km east of Milan’s city centre, and benefits from strong road transport infrastructure within close proximity. Its strategic location sits next to Milan’s East Ring Road and the new “Bre.Be.Mi.” (Brescia-Bergamo-Milan) motorway, providing easy access to the key cities of Northern Italy.

The standalone asset comprises c. 46,000 sqm of purpose-built single-storey logistics space, which is spread across two blocks and includes 102 loading bays, office space and a canteen. It is fully let to an institutional grade tenant on a strong covenant, offering long term income visibility, while the high-quality asset offers the flexibility to be multi-tenanted if required.

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, said: “This disposition has been a planned and well-executed transaction by our team, where we have swiftly exited a country which no longer fits with our Fund strategy and sold an asset at a very attractive price, generating an excellent return for our investors.”

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 it has completed the global public offering of LaSalle Logiport REIT (“LLR”), raising newly issued equity capital of 48.5 billion yen (approximately USD 456 million) on the back of strong demand from Japanese institutional trusts, regional banks, international institutional investors and retail investors in Japan. This marks the first global public offering of a Japanese real estate investment trust (“J-REIT”) since the start of the global Covid-19 pandemic in early 2020.

LaSalle’s logistics-focused J-REIT, LLR, will use the net proceeds of its latest public offering to acquire ownership interests in four logistics facilities: Logiport Kawasaki Bay and Logiport Shinmoriya located in the Tokyo Area as well as Logiport Amagasaki and Logiport Sakai located in the Osaka Area. With these acquisitions, LLR’s portfolio consists of 18 assets, totaling 1.9 million square meters, with total assets under management of 317.8 billion yen (approximately USD 3 billion).

Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “With LLR, we are responding to strong investor appetite for quality logistics assets in Japan. Going forward, we will continue to grow and strengthen our portfolio with an active management strategy that leverages the global investment management knowledge of the LaSalle Group, as well as the deep expertise of our on-the-ground team.”

Keith Fujii, CEO and President of Japan at LaSalle Investment Management, said: “Robust growth in e-commerce and the drive for supply chain efficiencies, together with the institutionalization of logistics facilities as a real asset in Japan, continue to boost demand for modern logistics properties. Despite the challenges of the global pandemic, we are confident that both investors and tenants will continue to recognize the value of large-scale, high-performance logistics facilities.”

LaSalle has a long track record in Japanese logistics, having completed more than 2.36 million square meters in new development, 1.98 million square meters in new acquisitions, and 3.77 million square meters in leasing activity over the past 17 years. Since its debut in February 2016, LLR has doubled its assets under management and increased enterprise value by 2.6 times. LaSalle currently manages over USD 4 billion of logistics investments in Asia across key markets including Japan, Korea and China.

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 the “Sainte-Cécile” office building in Paris to Deka Immobilien for €165 million. The asset was acquired in March 2020 on behalf of LaSalle’s pan-European open-ended fund, Encore+, as part of a sale-and-leaseback transaction with BNP Paribas that also included the [adjoining] landmark office building “Bergère”.

Located on rue Sainte-Cécile in the 9th arrondissement, in the heart of Paris, the building offers 9,400m² of rental space, as well as 109 parking spaces. It combines three adjacent buildings, originally constructed in the twentieth century, which were combined in 2004. Two cut-stone façades were retained during the redevelopment, allowing the creation of an efficient and flexible space with an average area of c.1,450m² per floor.

LaSalle retains ownership of “Bergère”, the headquarters of BNP Asset Management (formerly Comptoir National d’Escompte de Paris), located at number 14 rue Bergère. With a rental area of 26,400m², it is renowned for its striking façade and exceptional architectural features, such as the main atrium and the monumental staircase, and was the first building in France to obtain HQE certification for building quality subsequent to renovations. The surrounding area hosts a thriving cluster of technology companies and offers a large number of services and a wide range of shops, restaurants, hotels, cinemas, theatres and other amenities.

Beverley Kilbride, France Country Manager at LaSalle, said: “I congratulate our team for successfully completing this sale and executing our strategy at a time of market turbulence. The 9th arrondissement is one of the most popular districts with tenants in Paris, particularly due to the presence of major technology companies. The assets that we manage here are perfectly suited to meet the expectations of the younger generation, both today and in the future, for a central and high-quality working environment.”

David Ironside, Fund Manager for Encore+ at LaSalle, adds: “We are very pleased to have completed the sale of Sainte-Cécile, which was the final stage of our wider “Bergère and Sainte-Cécile” acquisition strategy. The resilience of the location and the rental income of Bergère, in addition to the returns from the sale of Sainte-Cécile, represent a very positive contribution to the performance of the Encore+ fund for our investors.

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, has managed the acquisition of a portfolio of two inner-city logistics parks in Warsaw on behalf of LaSalle E-REGI. The portfolio was developed by Panattoni Europe, the largest logistics developer in Europe.

The City Logistics Warsaw Airport and City Logistics Warsaw City North logistics parks are both located within the inner-city area of Warsaw. The city is one of Europe’s most popular logistics markets: despite increasing levels of supply, Warsaw’s logistics vacancy rate has trended downwards from above 20% in 2010 to a current level of 6.5%, due to strong demand. These market conditions are in part driven by the city’s location, which benefits from being situated near to the A2 motorway. The strategic transport route links Warsaw and Lodz, the most significant logistics markets in Poland, and connects the country directly to Western Europe through Berlin.

In total, the portfolio offers close to 25,000 m2 of rental space, comprising modern class A logistics space, flexible layouts that are adaptable to the needs of small and medium sized occupiers, and top-of-the-range technical specifications. The parks are both fully-let with a well balanced mix of tenants, including an international customs services and customs compliance firm, a logistics operator that works with some of Europe’s largest fashion brands, and the largest supplier of woodworking machinery in Poland.

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, said: “Logistics has long been a target sector for the LaSalle E-REGI and recent events have only served to strengthen our view of the asset class. Given the rapid expansion of e-commerce – as well as Poland’s developing national road infrastructure, access to low-cost labour and relatively low rents compared to Western Europe – we expect that the portfolio will experience favourable demand fundaments over the coming years, providing long-term secured income for the Fund.”

LaSalle was advised by Allen & Overy as legal advisor, BNP Paribas as technical advisor and JLL as commercial advisor.

LaSalle has a strong track record of developing strategic relationships with best-in class partners, this being the third transaction with Panattoni Europe in the past year, following the acquisition of Panattoni Park Warsaw West in July 2019 and the development in Wroclaw.

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.

LaSalle Investment Management, the global real estate investment manager, announces the acquisition of an urban logistics facility north of Rotterdam, The Netherlands, on behalf of its pan-European fund Encore+, which increases the Fund’s exposure to the Dutch logistics market, one of the biggest in Europe. The asset has been acquired from ULP Bleiswijk B B.V., a joint venture between USAA Realco Europe B.V. and Somerset Capital Partners B.V.

The Bleiswijk Urban Logistics Center is very well located in the Randstad area, considered one of the most important logistics hubs in The Netherlands. It is 15km from the Port of Rotterdam, the busiest port in Europe that serves more than 500 million consumers across Europe, and is within reach of Amsterdam, The Hague and Utrecht as well as much of Western Europe. Take-up of Dutch logistics has increased 14% year-on-year but with federal planning restrictions limiting the development pipeline, rental growth, which is currently at 3.8%, is expected to continue.

The property offers over 60,000 m2 of flexible rental space, which can be easily adapted to changing tenant demands and target a wide range of occupiers. The building is currently very diversified, with tenants including the Dutch supermarket group Detailresult Group and Gist Nederland, the global logistics firm.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “Following the acquisition of numerous logistics assets in close proximity to some of Europe’s largest cities in 2019, this deal illustrates Encore+’s ongoing strategy of increasing exposure to strong logistics locations with limited supply. Across Europe we are seeing that the growth of e-commerce is driving demand for logistics and we expect this to continue, especially in The Netherlands where online sales account for only about 10% of total retail sales and are forecast to grow significantly in the next few years.”

LaSalle was advised on the acquisition by SOLID. Attorneys (legal), Drees & Sommer (technical) and Deloitte (tax). The seller was advised by Loyens & Loeff (legal), CBRE and 3Stone Real Estate (agents).

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 that the LaSalle E-REGI (“the fund”) has exceeded €1 billion in asset value as of 14 January 2020. In 2019, the fund generated total returns of 10.9%, driven by strong rental growth and successful sales, and has now recorded three-year total return figures of 8.7%.

The open-ended pan-European real estate fund, which was launched in 2011 via LaSalle’s regulated AIFM platform in Germany, passed the threshold after LaSalle E-REGI had successfully raised over €200 million in equity commitments, including five new institutional investors, in 2019.

LaSalle continued to deploy capital from the fund into office, hotel and logistics properties in transparent and high-growth European city regions in 2019, completing seven acquisitions with a cumulative value of €360 million.

LaSalle’s active management of the fund’s diversified core portfolio has enhanced the underlying properties’ sustainability credentials. The fund has been awarded the Green Stars award by the GRESB benchmark – the Global Real Estate Sustainability Benchmark – for the second year in a row, for sustainable real asset performance, and having achieved an occupancy rate of 97%.

The LaSalle E-REGI aims to generate stable income returns through investments based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic impact.

Measured against the MSCI S-FIX Europe benchmark of 76 institutional real estate funds with a combined net asset value of c.€29 billion, the LaSalle E-REGI has achieved outperformance of 5.3%, 2.3% and 2.6% respectively on a one, three, and five-year basis.

Uwe Rempis, Fund Manager at LaSalle Investment Management, said: “When launching the LaSalle E-REGI, our intention was to create a diversified pan-European property fund with exposure to transparent markets in the strongest-growing city regions in Europe. Reaching the €1 billion threshold is a testament to the attractive and important investment proposition the fund offers to our institutional clients.

“The team’s dynamic and proactive fund management has enabled us capitalise on market opportunities, to selectively sell assets, to achieve a record year and to extend our excellent track record in terms of fund performance. As we begin 2020, we will prudently grow the fund, we will remain focused on select investment opportunities in growth cities which we deem accretive to the fund’s target returns.”

Rene Hoepfner, Head of Client Capital DACH region at LaSalle Investment Management: “LaSalle has seen significant interest in LaSalle E-REGI from our pension industry investors. Our investors want a well-diversified core portfolio with both a long and strong track record, in combination with strong sustainability credentials, and we are dedicated to helping our clients achieve those goals. The LaSalle E-REGI has both unique investment characteristics and excellent performance. We expect more capital inflow from German institutions going 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 $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, has advised its pan-European fund Encore+ on the acquisition of two hotel properties in Munich from Commerz Real.

The site is located in the economically vibrant north of Munich, within one of the fastest-developing micro locations in the city, with several commercial and residential developments, including the planned Knorr-Bremse area development. The site comprises both an Ibis budget and Adagio access hotel with a total of 322 rooms, c.10,000m² of rental space and direct public transport links with the metro to Munich city centre.

Munich is a leading business destination in Western Europe, the third largest German city with 1.54 million inhabitants and the fastest-growing city in Germany. It is also one of the leading tourist destinations in Europe, having received 8.2 million visitors in 2018.

The acquisition is the first hotel investment for Encore+, following its strategy to further diversify the fund by acquiring alternative assets, notably leased hotels in the strongest Western European cities. The Munich hotel market is a national leader in terms of Average Room Rates, Revenue Per Available Room (RevPAR) and adherence to LaSalle’s proprietary “DTU+E” criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment. It follows the Fund’s prior acquisitions in Munich of Westend Yards in March 2019 and the ElseBella portfolio of two office properties in December 2018.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “We are delighted to have made this acquisition. Munich is a leading European business and tourist hub. The site has excellent public transport and an outstanding track record. Munich has higher occupancy rates than the average German budget market and is growing rapidly. Our investment adds both diversity and exposure to Munich’s hotel market, offering returns to complement the portfolio.”

Andreas Wesner, Head of Investment for Germany at LaSalle Investment Management, said: “This is our first move into the alternatives market, and an important acquisition for Encore+. The assets have a particularly resilient track record in a hotel market benefiting from strong tailwinds, where the key performance metrics already surpass the national average. We’re very pleased to have been able to complete this acquisition on behalf of our investors.”

LaSalle worked on the transaction with Greenberg Traurig (Legal & Tax), Arcadis (Technical), Knight Frank (Valuation) and Colliers International (Buy-Side Advice). The seller was advised by CBRE and Taylor Wessing (Legal & Tax).

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, has announced the acquisition of the prime office building Morrow in Frankfurt’s Westend. The purchase agreement has been signed on behalf of the LaSalle E-REGI fund (“the fund”), with closing in July 2020. LaSalle has acquired the asset from Projektentwicklung Oberlindau GmbH, a joint venture between Art-Invest Real Estate and Red Square.

Morrow, which is currently undergoing a core refurbishment that is scheduled for completion in July 2020, offers over 7,000 m² of lettable space across 11 floors. Its six terraces starting on the fourth floor, offering a unique view of the Frankfurt skyline, are a key feature of the building.

The property is located in Frankfurt’s Westend, one of the city’s most sought-after residential and business districts, in the immediate vicinity of Rothschild Park and the CBD, the centre of Germany’s financial services sector. Morrow has excellent public transport connections: Frankfurt Central Station is less than 10 minutes away by car and Frankfurt Airport less than 20 minutes.

Morrow is recognised by DGNB, the German Sustainable Building Council, as being developed to the highest possible sustainability standards and is set to receive a DGNB Platinum certificate as well as a WiredScore certificate.

Uwe Rempis, Fund Manager of the LaSalle E-REGI fund at LaSalle, said: “The acquisition of Morrow once again demonstrates the success of our forward-looking investment strategy. For the LaSalle E-REGI fund, we are focusing on logistics and, above all, on office investments in Germany’s top cities which offer the greatest potential for economic growth in the long term. This forward deal secures the fund a repositioned core property with attractive risk-adjusted return prospects for our investors.”

Andreas Wesner, Head of Acquisitions for Germany at LaSalle, added: “This is a promising acquisition for the LaSalle E-REGI fund in one of the most stable office markets in Europe. The vacancy rate in Frankfurt is at its lowest level in 20 years, while the development pipeline is limited. Brexit will further enhance the demand: global financial institutions and service providers will increasingly look for first-class office space outside of London. On this basis, we expect the overall demand to grow in the coming years and thus a secure long-term income stream for Morrow as well. The refurbishment will significantly improve the quality of the building and thereby increase its attractiveness for new tenants.”

Stephen von der Brüggen, Partner and Head of the Frankfurt office of Art-Invest Real Estate, said: “With its excellent location and high-quality development, Morrow will impress both the property’s tenants, which include McDermott and Andersen Tax & Legal, as well as investors. We are delighted to have found an excellent buyer for our property in LaSalle Investment Management and would like to thank them for the swift and smooth transaction.”

Gerald Tschörner, Managing Director of Red Square, commented: “The revitalisation will allow Morrow to be repositioned and bring the property back to life. The flexible floor plans and highest technological standards equip the building perfectly for tenants’ ever-changing needs. Morrow will be a place that offers its users a modern, innovative and sustainable workplace that promotes a healthy working atmosphere.”

LaSalle was advised on the acquisition by Linklaters (legal) und W+S Real Estate (technical). Art-Invest Real Estate and Red Square were advised by GSK Stockmann. The broker was CBRE.

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, today announces the acquisition of a logistics development in western Germany on behalf of LaSalle E-REGI via LaSalle’s regulated platform in Germany. The asset has been acquired from the German logistics subsidiary of a Cologne-headquartered online retailer, in a sale-and-leaseback transaction.

The logistics property is a high-quality new-build development, which was completed in September 2019. It has a total area of over 44,000m2. The asset is currently single-let to a logistics subsidiary on a 10-year term and will serve as the tenant’s European logistics headquarters.

The property is located in Euskirchen in the greater Cologne region of North-Rhine-Westphalia, Germany’s largest state by population. It is situated 30km from Bonn, 40km from Cologne and 70km from Aachen and is well connected to the major A1, A61 and A565 highways which form an integral part of the regional motorway network.

Uwe Rempis, Fund Manager at LaSalle Investment Management, said: “We’ve been steadily increasing LaSalle E-REGI’s exposure to the logistics sector to capitalise on the strong tailwinds provided by the continued growth of e-commerce and online retailing. With the large population of the greater Cologne region served by a relatively low and constrained supply of modern logistics properties, this investment in a state-of-the-art facility in Euskirchen will offer our investors stable long-term returns and attractive yield.”

Andreas Wesner, Head of Acquisitions for Germany at LaSalle, said: “This is a very well-located asset in an area with scarcity of available logistics space. Due to its long-term lease structure and high flexibility in regards of third-party usability, this is an excellent fit for LaSalle’s pan-European fund and highlights our ability to source high-quality assets.”

LaSalle was advised by Pinsent Masons (legal), Gleeds (technical), Colliers (commercial) and Knight Frank (valuation).

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 its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”) along with its Custom Accounts group representing Frankfurt-based fund-servicing company Universal-Investment on behalf of Bayerische Versorgungskammer (BVK), and two managing owners, North American Development Group and Canderel, have acquired Edmonton City Centre (ECC). The property includes the Edmonton City Centre retail component, TD Tower, Oxford Tower and Centre Point Place spanning three city blocks in downtown Edmonton’s central business district.

John McKinlay, LaSalle Canada CEO, said: “We are pleased to complete this transaction with our partners, as it represents a rare opportunity to own a landmark mixed-use asset with a strong tenant roster in the heart of Edmonton’s downtown core. This acquisition aligns well with LCPF’s objective to provide investors with immediate exposure to a diverse and mature portfolio of assets focused in Canada’s six major markets. We are pleased with the strong relative performance of the Fund and the sustained interest from multinational investment partners.”

Michael Cornelissen, Senior Vice President of Acquisitions for LaSalle Canada, added: “This transaction is emblematic of our ability to source world-class properties with industry-leading partners. We see tremendous potential in the ECC acquisition given the growth momentum of the adjacent Ice District, light rail transit connections that are supporting continued urban gentrification and population growth.”

Spanning three city blocks, ECC is situated at the epicenter of Edmonton’s financial core and is the major shopping centre downtown, with an evolving service, convenience, entertainment and food and beverage-focused offering. The retail and parking portions benefit from their Pedway connectivity and adjacency to the recent downtown Ice District development, Canada’s largest mixed-use sports and entertainment district with 180 events per year.

The Edmonton core has grown from a residential population of 10,000 in 2008 to approximately 15,000 in 2019, and is projected to have 18,000 residents by 2020. The dramatic increase in residential condominium and rental development has been driven by inbound urban migration, with 1,600 units recently completed, 1,400 residential units under construction, and an additional 3,100 units proposed in proximity to ECC.

Surrounding residential developments and recently completed office developments are driven by a strong urbanization trend in Edmonton. This trend will undoubtedly further increase the foot traffic coming to ECC beyond the traditional daytime office employee population.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$6 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

About LaSalle Canada Property Fund (LCPF)

LCPF is an open-ended fund targeting core properties in major markets across Canada. The Fund is targeting commitments from Canadian and global institutional investors seeking access to the Canadian real estate market through a diversified, income-oriented vehicle. Launched in 2017, the Fund aims to provide investors with immediate exposure to a diverse and mature portfolio comprised of office, industrial, mixed-use, retail and multifamily assets. Through its near-term pipeline of potential future investments, the Fund will seek to take advantage of mispriced assets as it continues to grow.

This release does not constitute an offer to sell or a solicitation of an offer to buy an interest in LCPF. A private offering of interests in the relevant Fund vehicle is being made only to certain qualified investors pursuant to the applicable confidential private placement memorandum. Within the European Economic Area (EEA), the Fund is only available to professional investors in EEA member states where marketing has been registered or authorized in accordance with local requirements. A full list of the relevant EEA member states is available from LaSalle on request.

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 $68 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 http://www.lasalle.com, and LinkedIn.

About Bayerische Versorgungskammer (BVK)

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with contributions of € 4.4 billion and € 3.2 billion pension payments annually. It currently has € 69 billion assets under management and more than 1,200 employees. Visit https://www.versorgungskammer.de/ for more information.

About North American Development Group

Founded in 1977, North American Development Group (“NADG”) has been active in the development, acquisition, redevelopment and management of over 250 shopping centres as well as multi-family and mixed-use developments comprising well in excess of 35 million square feet. Today, NADG owns over 25 million square feet of existing retail GLA in Canada and the U.S., with an additional 3 million square feet in development or pre-development. NADG has 11 offices across North America, 6 in Canada and 5 in the United States, and a team of over 225 seasoned real estate professionals. The Company’s head office is in Toronto, Ontario with regional offices in Kelowna, Edmonton, Montreal, Ottawa and Halifax. In the U.S., NADG’s head office is in West Palm Beach, Florida with regional offices in Phoenix, Dallas, Nashville and Atlanta. For more information, please visit www.nadg.com.

About Canderel

Canderel is one of Canada’s leading real estate development and management firms with in excess of $15 billion in acquisitions, development and management projects over the past 45 years in markets across the country. This translates into more than 60 million square feet of owned, managed and developed properties in the office, industrial, mixed-use and retail sectors. Regardless of the space, our vision remains to ensure long-term investment value for our clients, partners and investors. For more information, please visit www.canderel.com.

About Universal-Investment

With fund assets of around EUR 471 billion under administration, thereof EUR 380 billion in own vehicles and around EUR 91 billion in, inter alia, insourcing, well over 1,400 mutual and special investment mandates and a workforce of around 700, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group’s service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of August 31, 2019). More information available at: www.universal-investment.com. 

About LaSalle Investment Management 

About LaSalle Investment

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, has advised its pan-European fund Encore+ on an acquisition of an urban logistics warehouse on the edge of Paris. The property is single let to a blue-chip tenant.

The property is located in Gonesse, a popular and well-established logistics submarket in the north of the city of Paris. It is ideally situated on the main distribution axis between north and south France, strategically located at the crossroads between the A1 and A3 motorways and close to both Paris-Le Bourget Airport and Charles De Gaulle Airport.

Gonesse’s thriving urban logistics market hosts globally renowned occupiers such as Amazon and the logistics group GEODIS. The area is also set for development as two new metro stations of the line 17 will be built in the vicinity of the property as part of the Grand Paris project. In addition, the €3bn EuropaCity project, a major retail, residential and cultural hub, is expected to be developed on the adjacent land plot.

The property is fitted to a class A specification and offers close to 25,000m² of rental space, consisting of four storage cells, 26 docking bays and office space.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is a great asset close to Paris in one of Europe’s fastest-growing logistics markets. Thanks to the significant growth of e-commerce in France – the online share of total retail sales in France is currently growing at a double-digit rate – the demand for urban logistics continues to increase. The development of the town of Gonesse will be a constraint on the supply of further logistics capacity in the area. This indicates that the asset will experience a positive supply-demand dynamic while delivering long-term secured income in the coming years.”

Beverley Shadbolt, Country Manager for France at LaSalle Investment Management adds: “After the acquisition and development of our logistics project in Tigery announced at the beginning of the year, this is another important acquisition for Encore+ that strengthens our position in the logistics sector in France. It once again proves our ability to seize excellent opportunities in France.”

LaSalle was advised by C&C (Notary), Baker McKenzie (Lawyers), Etypo (Technical) and KPMG (Tax).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

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 its completion of the acquisition and leasing of Logiport West Anseong located in Anseong City, South Korea. The project’s gross floor area is 14,146 pyung (approximately 503,400 sq.ft.) and the construction was completed in December 2018.

Logiport West Anseong Highlights:

• High specification logistics facility with four-storeys of storage floors and a mezzanine floor for office use.
• 64% of gross floor area is dry storage compartments, 36% was designed for temperature-controlled storage.
• Project was significantly pre-leased from tenant demand prior to construction.
• Project has multi-tenants, anchored by the largest third-party logistics service provider (by revenue) in South Korea.
• Project has truck access to each floor without circular ramps or elevators for direct loading and unloading.
• Located in western Anseong, approximately 70 minutes from Gangnam Business District and directly near expressways for connectivity throughout Gyeonggi Province.

Steve Hyung Kim, LaSalle Investment Management Senior Managing Director, Head of Acquisition & Asset Management – South Korea commented, “We are pleased with the acquisition and leasing completion of Logiport West Anseong, LaSalle’s first warehouse investment with temperature-controlled storage capabilities in South Korea. We believe the growth in e-commerce and logistics service provider sectors will continue to drive occupier demand, especially for the higher quality modern warehouses in “last mile” locations. We plan to selectively develop and acquire additional logistics facilities going-forward.”

Se Hwan Oh, LaSalle Investment Management Senior Vice President, Development & Asset Management – South Korea said, “We are excited with the acquisition of Logiport West Anseong, a four-level modern mixed-use logistics property with truck access to all floors built to a high specification. With a healthy leasing market as well as the quality and location, it was significantly pre-leased with a well-diversified sector mix. We see continued demand for cold storage space in the market, and look forward to supporting the needs of our customers.”

As of today, LaSalle manages approximately US$3.9 billion AUM in industrial assets across the Asia Pacific region.

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, has acquired a flexible-use warehouse fully let to the discount supermarket chain DIA. The asset, which is located near Zaragoza in Spain, has been acquired on behalf of LaSalle’s E-REGI fund for over €20 million.

DIA Logistics was completed in 2016 and has over 31,000m2 of rental space, around 200 parking spaces and more than 60 loading docks. The property is capable of supporting multi-tenant use, including over 13,000m2 of cold storage divided into six separate modules. DIA, the sole tenant, operates more than 7,000 stores internationally, making it one of Europe’s largest food sector franchises.

Zaragoza is located in one of the most attractive logistics markets in Spain, benefiting from its proximity to Madrid, Barcelona, Valencia and southern France. The city is a key freight corridor between the Mediterranean and Atlantic coasts, with transport infrastructure including Zaragoza Maritime International, the second biggest dry dock in Spain, and Zaragoza International Airport, the third largest cargo airport in Spain by volume.

Uwe Rempis, Fund Manager at LaSalle said: “This is an important acquisition for the E-REGI fund as it increases our investors’ exposure to logistics, one of our target sectors. Spain’s logistics market is particularly attractive as it has experienced strong occupier demand in recent years, largely thanks to the growth of e-ecommerce, which is deriving demand for strategically located, large logistics units than can serve the whole country. We expect this trend to continue and so are pleased that we have been able to advise on this acquisition.”

LaSalle E-REGI is an open-ended pan-European real estate fund that aims to generate stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL’s Global Real Estate Transparency Index and minimum market size.

LaSalle was advised by Hogan Lovells (legal); KPMG (tax) and Malcom Hollis (technology), RPEurope (Commercial)

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.

Long-term leased asset for the open-ended pan-European real estate fund LaSalle E-REGI KONTOR is part of the development project “Wirtschaftswunder” in central location

LaSalle has acquired the KONTOR office building in Berlin on behalf of LaSalle E-REGI. The seller is PW Real Estate Fund III, a real estate fund affiliated with Aermont Capital.

KONTOR is centrally located in Berlin-Schöneberg between Potsdamer Platz and City West and is leased on a long-term basis to the agricultural seed producer KWS. The building is part of the commercial ensemble “Im Wirtschaftswunder” by Aermont Capital in collaboration with Pecan Development. The building offers almost 10,000m² of leasable space over seven floors and two roof terraces. The KONTOR is currently undergoing fundamental renovation with completion scheduled for the end of 2019. After the renovation, all rented spaces will meet industry standards for high-quality building technology.

“Im Wirtschaftswunder” is being created as construction and revitalization project with c. 33,000 sqm leasable space at the former Commerzbank property at Potsdamer Straße. In addition to KONTOR the ensemble comprises also FORUM and the new building ZENTRALE, which shall function as the new German headquarters of Sony Music Entertainment.

The Berlin office market is the fastest developing office market in Germany. It has grown by more than 15 per cent since 2012. The demand for such properties is robust and is expected to further develop positively in the coming years. The vacancy rate has been declining for at least a decade and is currently at an all-time low of 1.4 per cent.

Uwe Rempis, Fund Manager of LaSalle E-REGI, says: “The Berlin office market is likely to remain friendly to long-term investors. Despite intensive construction and development activity, the total number of space is predicted to rise by 2 per cent in 2019 alone and we see no signs of easing. Therefore, we also expect a positive development in rental income for our investors. The property thus fits perfectly into our strategy, which focuses on investments in core locations in major European cities and capitals”.

LaSalle E-REGI is an open-ended pan-European real estate fund that aims to generate stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL`s Global Real Estate Transparency Index and minimum market size.

LaSalle was advised by Mayer Brown LLP (legal); Gleeds (Technical); Howden (insurance broker); Liberty (Insurance for W&I); Knight Frank (valuation) and Savills (buy-side). Aermont and Pecan were advised by Greenberg Traurig Germany LLP. BNP and Colliers have acted as transaction brokers in the process.

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 advised on the acquisition of a highly visible office building located in Hamburg`s City South, Hamburg´s second largest office submarket, located adjacent to the CBD on behalf of the Encore+ fund.

Economic Quarter is a newly-refurbished, highly visible office spread over 28,000m² and ten floors. It also comprises a showroom for Mercedes Benz. City South is currently one of the fastest developing submarkets and is emerging as a major business location, attracting a wide range of companies from the financial, consulting and IT sectors as a headquarters location. The area provides excellent public transportation and amenities. The overall quality of this important market has also profited from recent large-scale residential developments, turning City South into a more lively and attractive location.

The total office take-up in Hamburg has been strong and steadily increasing over the last decade. Hamburg’s vacancy rate has been decreasing since 2015 and is approaching a five-year low. At the end of Q2 2019, modern office space available for immediate leasing amounted to 398,000m² in Hamburg, which constituted 2.9% of the total stock.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “I am delighted that we have agreed to acquire the Economic Quarter, which fits well within Encore+’s strategy to acquire asset high quality properties in major cities in Western Europe. Hamburg is a new market for Encore+ and one of the top German office markets, providing further diversification within Germany. The high quality of the tenants provide secure income in this asset, in a location with excellent access and in addition the opportunity to capture rental uplift.”

LaSalle was advised by Mayer Brown (Legal&Tax); Drees & Sommer (Tech); Linklaters (Antitrust legislation); Howden (Insurance Broker); Liberty, Lloyds (Insurance); Colliers (Buy-side adviser); Colliers (Valuation); and CBRE (RCA Report).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

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, 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.