BRISTOL (January 30, 2025) – LaSalle Investment Management (“LaSalle“), the global real estate investment manager together with its development partner Deeley Freed, has obtained outline planning permission for The Galleries Shopping Centre, Bristol.

The Galleries is situated in a prime location in Bristol’s city centre, adjacent to Castle Park, with excellent connectivity to public transport including Temple Meads station. The redevelopment will help unlock the Bristol City Council’s plans to regenerate the city centre. The surrounding infrastructure will undergo significant enhancements, becoming greener and more pedestrian-friendly. The redevelopment will support the Council’s sustainability goals, facilitating the delivery of a low-carbon District Heat Network and enhancing urban accessibility.

The proposed development includes plans for up to 450 new homes and 8,000 sq m of ground-floor space dedicated to retail, leisure, dining, health, and community facilities. In addition, the site will feature approximately 46,000 sq m of modern, sustainable employment space, the potential for a 240-room hotel or aparthotel, and up to 750 purpose-built student bedrooms. The development will also incorporate 1.5 acres of high-quality public realm which will look to bring Castle Park closer to the city centre.

A central feature of the project will be a new green transportation hub accessed via Fairfax Street, shifting the focus away from parking towards sustainable travel options. This regeneration project also aims to enliven Bristol’s nighttime economy, re-imagining the area as a vibrant city centre destination that will benefit residents and visitors. Additionally, the proposal reimagines public spaces – where the current Galleries site lack open areas, the new design will dedicate a third of the site to high-quality, welcoming public space. The redevelopment thoughtfully incorporates Bristol’s heritage by preserving the Merchant Almshouses and Greyhound Hotel, currently obscured by the Galleries structure, into the new design.

Tom Lewis, Fund Manager, UK Custom Accounts, LaSalle Investment Management said: “Following an extensive consultation process with local stakeholders, we’re delighted to have secured planning approval to transform Bristol city centre and provide the local community with new homes, commercial space, amenities, and green space. We’re committed to investing for the long term and this ambitious redevelopment scheme demonstrates our ability to create value and better meet the needs of future residents, occupiers and visitors.”

Max Freed, Director, from Bristol-based Deeley Freed, comments: “We’re delighted Bristol City Council has voted to support this redevelopment project. It is a once-in-a-generation chance to re-invent, revitalize and modernize such a large part of the city centre. Our vision involves completely transforming this 1980s shopping centre, making the site more diverse, safe and sustainable. The redevelopment of this site will bring more people to live and work in the city centre, accelerating the regeneration of the area.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.8 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About LaSalle Debt Investments

LaSalle Debt Investments is part of LaSalle’s growing US$10 billion Debt and Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

London (January 20, 2025) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announces that it has provided a £100 million loan facility through its flagship LaSalle Real Estate Debt Strategies IV (LREDS IV) Fund to refinance the acquisition of Pavilion Court, a fully-leased 699-bed Purpose-Built Student Accommodation (PBSA) asset in Wembley, London, owned by Apollo-managed funds.

Located in the Wembley Park Masterplan residential development, Pavilion Court is a 10-minute walk from Wembley Park underground station with quick access into central London. Benefitting from one of Europe’s largest regeneration schemes, Wembley is home to the London Designer Outlet and the world-famous stadium. The area is an established residential neighbourhood which benefits from a wide range of food and beverage establishments. Its close proximity to several academic institutions such as the University of Westminster, UCL and Middlesex University, among others – positions the area favourably as a hub for student accommodation.

Completed in 2021, the 699-bed building sits across four blocks centred around a courtyard. It includes 89 studios and 610 en-suite rooms, alongside a gym, a games room, multiple study spaces, dining room and multimedia room, catering for both domestic and international students. Alongside this, Pavilion Court performs strongly against industry real estate sustainability standards and is accredited with a BREEAM ‘Very Good’ certification.

David White, Head of LaSalle Real Estate Debt Strategies, said: “This large-scale refinancing demonstrates the strength of our Debt Investments platform and maintains our strong pace of deployment, positioning our business as one of the most active real estate debt providers in Europe. We are delighted to be able to offer Apollo Global Management a bespoke and creative capital solution to support this acquisition. The building is in prime position to attract domestic and international students looking for high-quality, amenity-rich and centrally located accommodation that provide quick access to universities. We look forward to expanding our footprint in this segment of the market.”

Apollo Partner Samuele Cappelletti, added: “We are pleased to have worked with an institutional party like LaSalle in the financing of this landmark asset for which we continue to see multiple value creation levers to be implemented over the life of our business plan.”

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.8 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About LaSalle Debt Investments

LaSalle Debt Investments is part of LaSalle’s growing US$10 billion Debt and Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

London (January 9, 2025) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announces that it has provided a £68.7 million green loan to Vita Group to finance the delivery of a new 540-bed purpose-built student accommodation (PBSA) scheme in central Birmingham.

Located on Gough Street in Birmingham city centre, the asset will benefit from excellent rail, bus and tram links. The scheme will help address the undersupply of specialist accommodation in the UK’s second largest student market, with five universities and c.80,000 students based in the Birmingham Metropolitan Area. Planning permission was secured and construction work, led by MRP, commenced in 2023, with completion set for August 2026.

The 105,000-sq-ft scheme will comprise two tower blocks, of 10 and 29 stories respectively, with amenities including private dining rooms, a vibrant hub space for socialising and studying, a state-of-the-art gym, an outdoor basketball court, outdoor terraces and shared cycle storage. The building is designed to be highly sustainable, targeting BREAAM ‘Excellent’ certification, with LaSalle’s green loan structured under the Loan Market Association’s green loan framework.

David White, Head of LaSalle Real Estate Debt Strategies, said: “This latest development loan completed by our Debt Investments platform maintains our strong pace of deployment, positioning our business as one of the most active real estate debt providers in Europe. In Vita Group and MRP, we are working with two firms with best-in-class reputations for providing high-calibre, well-amenitized student accommodation and for successfully delivering large-scale PBSA schemes. Our investment in the Gough Street development provides our investors with exposure to a high-quality asset, supported by the strong fundamentals of Birmingham’s structurally undersupplied student market.”

Max Bielby, Chief Operating Officer for Vita Group, added: “We’re delighted to be working with trusted partner LaSalle to deliver this best-in-class student accommodation to the heart of Birmingham. The delivery of this building is well underway and will raise the standards of what students should and can expect from their accommodation experience in the city centre. We look forward to welcoming students from September 2026.”

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.8 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About LaSalle Debt Investments

LaSalle Debt Investments is part of LaSalle’s growing US$10 billion Debt and Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

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

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

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

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

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.8 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

Singapore (December 12, 2024) – Asia Pacific macroeconomies and real estate markets are showing signs of potential structural changes and unique cyclical patterns, setting the region apart from global trends.

This is the thrust of the Asia Pacific chapter of ISA Outlook 2025 report just released by LaSalle Investment Management (“LaSalle”). Published every year since 1993, LaSalle’s ISA Outlook is designed to help the real estate industry navigate the year ahead.

This year’s key findings include:

• Investors in Asia Pacific real estate must navigate new investments and existing portfolios in a complex environment with signs of structural change and a distinctly different cycle compared to historical norms. These factors could have a combination of positive and negative implications for investors, some of which may only become apparent years later.

• Adding to the complex macro environment is the US election result, which could lead to heightened economic uncertainty and periodic capital market volatility. China is particularly vulnerable and, to a lesser extent, Hong Kong. Beyond China and Hong Kong, it is difficult to predict clear winners or losers from the U.S. election result for now. We believe that select real estate markets or sectors could benefit from some supply chain rebalancing. In addition, investors may consider focusing on Asia Pacific real estate markets/sectors that are anchored by domestic demand and domestic capital.
• In China, which faces the weakest economic growth and consumer confidence in decades, heightened geopolitical tensions between the US and China, as well as the absence of impactful structural reforms or larger-scale stimulus packages, suggest an extended period of economic weakness. This creates a challenging environment for China’s residential and commercial real estate markets over the next few years.
• Japan remains the most liquid market in the region, with inflationary growth prospects. Should the substantial domestic investor base in Japan continue to anchor the real estate capital market, the potential impact of further interest rate hikes can be limited. Nonetheless, it is essential to allow for flexibility and the potential for unexpected outcomes, when evaluating investment opportunities or setting up business plans for existing portfolios in Japan.
• In other developed economies of the region, the varying and sometimes contrasting cyclical patterns among major real estate sectors within each country set the region apart from global trends.
• Commercial real estate liquidity in Asia Pacific has demonstrated resilience compared to other global regions but is still constrained to varying degrees, except for Japan. The gap between buyer and seller expectations is weighing on liquidity and some investors are adopting a wait-and-see approach. Nonetheless, savvy investors understand that sometimes the best returns come from vintages in the wake of cycle turning points or when signs of structural change emerge.

Where favorable macroeconomic conditions present themselves and as global investment appetite returns, the diversity of Asia Pacific markets and sectors within the region will offer discerning investors a variety of opportunities with a wide range of risk-return profiles.

Five strategic themes are highlighted in the Asia Pacific ISA Outlook 2025:

1. Multi-family: At a nascent stage, except Japan

The multi-family sector in Asia Pacific is undergoing structural changes, driven primarily by demographic shifts and government policies, with significant potential for institutionalization. This sector offers a range of investment opportunities in a basket of markets except China, although it would take time to fully unlock value in this nascent sector outside of Japan due to unproven liquidity.

• Office: Navigate cycle changes vs. potential for structural shifts

Office market performance across Asia Pacific varies significantly. It is increasingly important to consider the timing of entry and exit as well as risk mitigation plans. South Korean, Japanese and Singaporean offices offer strategically selected investment opportunities for investors with different risk and return appetites.

• Logistics: Not a clear outperforming sector

The logistics sector shows dispersion in performance across markets, submarkets and sub-sectors. With relatively balanced supply-demand dynamics, Australia, Singapore and select Japanese markets offer investment opportunities, despite reducing return expectations.

• Retail: Distinctive consumption patterns

We expect that well-managed retail assets that have adapted their tenant mixes and market positioning in response to changing consumption habits will outperform, adding to operational intensity. A granular, asset-level approach to investment is crucial, given the performance variations across markets and sub-sectors.

• Hotel: Momentum mostly priced in, except Japan

The Japanese hotel market is set to continue its growth trajectory, driven primarily by domestic demand and, to a lesser extent, inbound tourists. However, the performance is expected to vary across markets and segments, influenced by the operational capability to navigate challenges such as labor shortages and rising labor costs.

Looking ahead, investors in Asia Pacific real estate must navigate a complex environment marked by structural changes and atypical market cycles.

Elysia Tse, Asia Pacific Head of Research and Strategy at LaSalle, commented: “There are many unknowns in the current complex economic climate, compounded by impending changes in Trump 2.0, which will likely lead to periodic episodes of capital market volatility. Investment strategies that favor domestic tenant demand and domestic capital, as well as those that focus on operational intensity, such as deal execution and in-house leasing, are important for value creation and preservation. In the event of significant dislocation or capital market volatility, investors could seek attractive entry points or creative, structured solutions to address capital stack issues for some troubled property owners or developers.”

Brian Klinksiek, Global Head of Research and Strategy at LaSalle, added: “As we enter 2025, we’re seeing the dawn of a new real estate cycle. While challenges remain, particularly in resolving legacy capital stack issues, we’re observing improving capital market conditions and emerging opportunities across a wide range of sectors and geographies. Investors who recognize these shifts early and act with flexibility are likely to benefit from attractive risk-adjusted returns. However, it’s crucial to remain vigilant about risks on the horizon and avoid the expectation of a rapid return to ultra-low interest rates.”

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.8 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

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

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

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

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

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

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

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

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

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

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 US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About Pensions & Investments

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

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

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

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

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

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

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

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

Global and North American Property Sector Outlooks

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

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

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

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

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

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

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

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

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

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

London (November 27, 2024) –Europe’s real estate cycle has reached a new dawn, following a deep capital market correction over recent years, according to the European chapter of the ISA Outlook 2025 report published by global real estate investment manager LaSalle Investment Management (“LaSalle”).

Last year’s ISA Outlook described the beginning of adjustment to the new reality of higher interest rates and challenging macroeconomic conditions. As we approach a new year, the latest ISA Outlook describes how market evidence is crossing thresholds that point to a new cycle. For example, data tracked by LaSalle’s asset managers show, from January 2024 to date, rents for new commercial leases across LaSalle’s European portfolio grew 2.7% relative to expiring passing rent, representing a return to an above-inflation pace.

LaSalle estimates that expected go-forward returns for the overall European property market are at their highest level in a decade. As capital slowly returns to the market and yield spreads exceed long-term averages, the real estate outlook has diverged from the region’s weak pace of economic growth due to a combination of supply barriers and asset quality polarisation.

This year’s report identifies strategic themes for investment in European real estate, which earn the region’s real estate assets an important place in investors’ property portfolios.

Beyond beds and sheds
A laser focus on “beds and sheds” has become a market consensus portfolio theme for many real estate investors, yet it is now becoming too simplistic to capture the more complex dynamics of the market.

Today’s ISA Outlook 2025 report uses fair value analysis to zero in on the best opportunities across a range of real estate capital and debt strategies and asset classes. These span all property types – not for the sake of diversification – but because we believe there are specific compelling opportunities that span across property types.

The European chapter of ISA Outlook 2025’s five strategic themes:

• Don’t forget a (real estate debt) umbrella: Real estate debt strategies can guard against inclement market conditions. New performance data for European debt funds shows the benefits of preparedness. Debt investors are also taking advantage of the choice between fixed-rate and floating-rate lending positions, and the diversification benefits of investing in both.
• Follow the hexagons for logistics: In our Paths of Distribution Score, we have mapped Europe into 158,455 hexagons – scoring each on their centrality, from an occupier perspective, for distributing goods to the most consumers at the lowest cost – and we favour logistics strategies that focus on the top-scoring hexagons within the highest ranked markets in our fair value analysis (in France, the Netherland and Germany).
• Retail back on the menu: European retail has been through a deep reset, and select retail formats now look too attractive to ignore. Outlet centres in the UK and Northern Europe offer strong alignment between tenants and operators, while Spanish and French retail parks and convenience shopping centres in the Netherlands can also deliver high income returns.
• Master adapters – how Europe’s office markets are different: Europe is leading the office market’s adaptation to hybrid work, as their largely mixed-use, mid-rise character, creates distinctive opportunities. A rebalanced office sector is not a distant next buyer prospect for many of Europe’s markets – it’s happening now. This is evident in return-to-office figures as well as property fundamentals. London City office market vacancy has now declined for five consecutive quarters, driving prime rent growth.
• A residential and living smörgåsbord: European residential (or living) is not really a single property type, it is a large collection of sub-sectors with widely varying cash flow profiles, pricing, regulation and target occupiers. There continue to be opportunities, but sector selection is paramount, with PBSA standing out in Spain and Germany.

Global uncertainty but clear opportunities

The European ISA Outlook forms part of LaSalle’s Global ISA Outlook, which finds that the new dawn extends across real estate around the world.

Greater clarity on the direction of interest rates around the world should help drive healing of the capital markets in 2025, with hesitant sellers gaining confidence as pricing starts to come in closer to their expectations.

There have, of course, been significant political developments in the US in recent weeks. The Global ISA Outlook reflects on how the “Red Sweep” may affect the real estate investment outlook and the shape of the dawning cycle, with signals pointing towards marginally higher growth, inflation and rates, but no great change in the overall outlook. LaSalle expects that the US economy remains on track for a soft landing. Equally, the European ISA Outlook considers the potential impact of the US Election in Europe, recognising that a stronger dollar could result in a possible boost in student demand for housing and tourist demand for hotel rooms.

The Global ISA Outlook also identifies areas of concern, with China a significant ‘soft spot’ due to a combination of generationally low growth and liquidity alongside weak property fundamentals. The Chinese government has made significant interventions to shore up the economy, and in recent weeks further stimulus has been implemented to guard against the potential onset of US tariffs on Chinese goods. These factors mean that China is something of a unique case in the ISA Outlook, with less applicability of global trends. Similarly, the Japanese market is experiencing a different cycle to the rest of the world. Japan is in the process of exiting a long period of deflationary risk and rock-bottom rates, so unlike other countries, monetary policy in Japan has a modest tightening bias.

Dan Mahoney, Head of European Research and Strategy at LaSalle, said: “We are seeing a new cycle dawning for Europe’s real estate markets. Today’s Europe ISA Outlook delves into why we believe we are entering a new cycle, evidence of data thresholds crossed, and our strategy for the years ahead. These go beyond simple ‘beds and sheds’ – which is too simplistic to capture the complexity of European real estate today.”

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

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

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

London (November 21, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, and Urbania, an investment and asset management company with a €1.1 billion portfolio under management, announce their joint venture partnership to develop a portfolio of living assets in Spain. The first two transactions are situated within the 408-hectare Parc de l’Alba masterplan in Cerdanyola del Vallés, adjacent to the Universitat Autònoma de Barcelona (UAB) Bellaterra campus, which hosts over 30,000 students. Delivery of the masterplan is underway, aiming to attract businesses within scientific, commerce, technology and consulting sectors, with the expectation to accommodate 30,000 workers.

The first asset, slated for opening in September 2025, is a purpose-built student accommodation (PBSA) project in Barcelona. With construction already underway, the project will feature 610 single en-suite rooms with state-of-the-art amenities including a rooftop swimming pool, gym, cinema room, study areas and auditorium, with a BREEAM “Very Good” rating. The project will be the only privately owned student accommodation scheme within walking distance to the UAB Bellaterra Campus, the third ranked university in Spain, offering degree specialisms including medicine, law, engineering and business. In addition, the project is in close proximity to other prestigious university campuses such as ESADE and Universitat Internacional de Catalunya, with excellent local transport networks into central Barcelona. Yugo, a leading student housing operator, has been appointed as manager.

The second development is a complementary flex-living scheme that will sit on an adjacent land plot and consist of 255 units, with completion projected for Q3 2027. The scheme is designed for academics, researchers, key workers and corporate occupiers from nearby commercial hubs within the Catalonia Innovation Triangle as well as the UAB Bellaterra Campus. The Parc de l’Alba masterplan is currently home to multiple companies including the ALBA Synchrotron, one of the largest science facilities in southwestern Europe, as well as the regional headquarters of leading companies like Inditex’s Stradivarius and engineering and technology group, Sener. The flex-living asset will offer flexible accommodation for short, medium, and long stays and target a BREEAM ‘Very Good’ accreditation and an EPC ‘A’ rating.

As LaSalle’s most recent ISA Briefing on the PBSA sector outlines, PBSA ranks as one of the firm’s top-conviction sectors in the coming years, with more students enrolled than at any point in history and a long-term supply shortage contributing to the attractiveness of the sector.

Blake Loveless, Head of Value-Add Investments, Europe, LaSalle, said: “This venture is an exceptional example of LaSalle’s deep value equity strategy, which continues to focus on student housing, urban accommodation, retail recovery, distribution, and special situations. Spain is a big market for us, and we are excited to expand our presence here alongside Urbania to provide affordable accommodation to students and young professionals.”

Amroy Lal, Vice President of Value-Add Investments, Europe, LaSalle, said: “Europe’s leading universities, like those close to this project, continue to attract a diversity of local and global students, adding to the growing strength of the region’s PBSA sector. Barcelona in particular represents a great opportunity for investors in the sector, given the resilient and varied sources of demand from multiple, highly ranked universities.”

Jeffrey Sújar, Managing Partner of Urbania Living, said: “Our mission is to create the next generation of student accommodation and flexible living facilities. This exciting project embodies our commitment to environmental sustainability and exceptional living standards. Every aspect has been meticulously planned to foster an enriching living experience that supports students, academics and other professionals in achieving their fullest potential. Collaborating with LaSalle on this landmark project is a source of immense pride for us.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About Urbania

Urbania is a privately-owned real estate development, investment and asset management company with a €1.1 billion portfolio under management.

Created in 2010 as a real estate developer, Urbania has become a leading real estate company with +100 projects delivered since it’s inception, specializing in large land acquisition and master planning development, residential projects and the creation of innovative Living concepts, with a strong presence across the Iberian market and Brazil.

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

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

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

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

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

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

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

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

London (November 14, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has agreed a 10-year lease with Assmann Beraten + Planen, an international planning consultancy, for the remaining 3,200 sqm of the East Tower of the Columbia Twins office scheme in Hamburg. The scheme, which is owned by the open-ended, pan-European LaSalle E-REGI fund, is now fully occupied.

The agreement follows SVA System Vertrieb Alexander, a German IT service provider, moving into the sixth and seventh floors of the East Tower on a 10-year lease in April 2024. The West Tower is leased to Columbia Shipmanagement, an international maritime service provider, which was also involved in the development of the asset.

In preparation of the recent lettings, the East Tower – formerly occupied by a single tenant – was renovated for multi-let purposes and to enhance its appeal to modern workforces. The project was led by Schmidhuber Future Work GmbH, a specialist in creating innovative work environments.

Built in 2009 and located in the Hamburg submarket of Harbour Fringe, Columbia Twins offers over 9,400 sqm of lettable space. It provides tenants with access to a roof terrace overlooking the river Elbe and famous Elbphilharmonie Concert Hall. Designed by renowned architect Carsten Roth, Columbia Twins holds DGNB gold certification and recognition from the BDA, the Hamburg architects’ association.

The long-term leases signed with multiple tenants underscore LaSalle’s ability to provide investors in LaSalle E-REGI with exposure to high-quality commercial real estate assets across Europe’s leading markets.

Sven Becker, Fund Manager, LaSalle E-REGI, said: “Both the signing of this new long-term lease and the existing high-quality tenants we have previously secured at Columbia Twins demonstrate the attractiveness of these buildings to various occupier needs. LaSalle E-REGI continues to deliver on its strategy to meet growing tenant demand for well-located, high-quality commercial space in key European city-centre markets and, as such providing long-term stable income for our investors.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

London (November 13, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces that after almost 13 years of service and a career spanning more than 40 years, Jon Zehner, Vice Chairman, will retire from the firm effective 31 December 2024.

Jon joined LaSalle in 2012 as Global Head of LaSalle’s Investor Relations team. He assumed responsibility for LaSalle Global Partner Solutions at the end of 2019 and headed the business until it merged with LaSalle Securities, to form LaSalle Global Solutions, in 2023. Since early 2023, Jon has been Vice Chairman of LaSalle. Throughout his time at the firm, he has been a member of the Global Management Committee.

Jon’s career in real estate began in 1981 at JPMorgan, where he spent 28 years in a variety of corporate finance roles including Global Head of Real Estate Investment Banking and Head of sub-Saharan Africa before joining AREA Property Partners (now ARES) as a Senior Director in 2009.

Jon has been an influential leader in the real estate industry, having co-founded the European Public Real Estate Association (EPRA), the Urban Land Institute (ULI) in Europe and the University of Cambridge’s MPhil programme in Real Estate Finance. He remains Chair of the University of Cambridge’s Land Economy Advisory Board and as a Trustee of the Urban Land Institute, where he served as a recent European Chair and Member of the Global Board of Directors. He is an Independent Non-Executive Director of Vukile Property Fund, a Johannesburg Stock Exchange listed REIT and a member of the Executive Council of King’s College London where he Chairs the Estates Strategy Committee. He also serves as Chair of African Parks UK and a Member of the Board of Governors of Arnold House School in St. John’s Wood, London.

Mark Gabbay, Global Chief Executive Officer of LaSalle, said: “We are truly grateful for Jon’s extraordinary service and commitment to LaSalle over almost 13 years in which he made countless contributions to the business as it evolved, and to the wider industry. As Jon enters this new chapter, we wish him the very best in his well-deserved retirement and all his future endeavors.”

Jon Zehner, retiring Vice Chairman of LaSalle, said: “I am grateful for the experiences and relationships I’ve gained in my time at LaSalle. It has been a pleasure to work alongside such talented people around the world. I have learned a great deal during my time here and hope that I have contributed something in return. As I graduate to this next chapter of my life, I have no doubt that LaSalle will continue to be focused on building relationships of trust with our investor clients while working hard to deliver strong investment performance.”

About LaSalle Investment Management | Investing Today. For Tomorrow

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

London (November 11, 2024) – LaSalle Investment Management (“LaSalle”) and Trilogy Real Estate (“Trilogy”) have leased an additional 19,000 square feet at The Amp, a newly refurbished education and innovation campus at 41-71 Commercial Road in Aldgate in East London, to London College of Contemporary Arts (LCCA).

LCCA’s expansion at the campus brings their total footprint within the building to 57,000 square feet, and means that The Amp is now close to fully let – a milestone achieved in just over two years from the acquisition of the site from the Department of Education in the summer of 2022 and a year after completing the refurbishment project.

An expanded LCCA, which will now occupy more than three floors of the building, will sit alongside other education occupiers. This includes De Montfort University, which arrived in September 2024 after signing an agreement for 18,000 square feet aimed at offering programmes specialising in sustainable practice to post-graduate students, as well as Nottingham Trent’s Confetti Institute of Creative Technologies and Access Creative College, both of which signed pre-lets totalling 55,000 square feet. Specialist facilities, including recording studios, multi-performance space and a gaming and eSports arena, are also located on-site.

The construction project to transform the buildings at 41-71 Commercial Road was completed in under a year to meet the operational requirements of the education occupiers, who needed an opening date in September 2023. The Amp provides space for education and innovation in a well-connected location, with one foot in central London and the other in the dynamic creative scene in the East of the city.

The Amp is the latest demonstration of Trilogy’s successful ongoing partnership with LaSalle Investment Management, which previously helped transform Republic in East India Dock from a dated office and disaster recovery space to a thriving mixed-use education campus. As of today, Republic hosts more than 15,000 students across nine institutions.

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

“The expansion of LCCA within our exciting mixture of universities at The Amp, taking the campus to nearly full occupation within just over two years, is a real signal of the strength of the local offer and the demand for education-led innovation campuses in leading European gateway cities – especially in city-fringe locations like Aldgate.

“Helping to bridge the gap between infrastructure and real estate, The Amp remains an important part of LaSalle’s broader European value-add strategy. Projects like the Amp, which focus on new economy sectors such as mixed education campuses, urban accommodation, student housing, private medical facilities, and distribution and data centres, are only growing in importance and we are very proud to have partnered on it with Trilogy.”

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

“At Trilogy our mission is to deliver the next generation of leading innovation campuses – campuses that mix exceptional education assets with high-quality shared amenities for business and the community.

“The fact that we have been able to turn around the refurbishment works and secure a nearly fully let building within just over two years from site acquisition is a testament to the level of demand for this type of campus in what has otherwise been a challenging market. It also reflects the huge amount of work that has gone into delivering truly bespoke and end-user-oriented facilities for our occupiers, their students, and the local community.

We look forward to LCCA’s expanded presence, and what this means for welcoming even more students on site to join what is fast emerging as a leading hub for business, technology and creativity.”

Allsop and DLA advised Trilogy and LaSalle on LCCA’s expansion.

41-71 Commercial Road was originally built in 1971 as the London College of Furniture. The college operated until 1992, when it was taken over by London Metropolitan University. The building was vacated in 2016 when the university rationalised its estate.

Work on the seven-floor refurbishment began in October 2023, led by main contractor Oktra, Project Manager Quartz Project Services, Architect Hawkins\Brown and Civic Engineers.

The completed building provides flexible, open floorplate space tailored to the needs of universities and colleges, as well as business and industry partners that may look to co-locate with a university to access the talent of the future and provide facilities for research and industry innovation. The building’s energy performance has also been significantly enhanced through the refurbishment – an all-electric heating and cooling system ensures no fossil fuels are burned on site, while all-new glazing has helped the building to secure BREEAM Excellent, WiredScore Platinum and an EPC “B” rating.

The Aldgate and Whitechapel area is a well-established higher education community education, and one of Central London’s youngest and fastest growing neighbourhoods. The Amp’s local offer – plentiful PBSA, nightlife, leisure and food and drink options, excellent transport connectivity and proximity to London’s cultural attractions – makes it an attractive choice, including for mature students or students who wish to live in their family home during their studies.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About LaSalle Value-Add Investments

LaSalle Value-Add Investments is part of LaSalle’s growing US $10 billion Debt and Value-Add Strategies platform in Europe and targets higher-return real estate equity investments across Europe, with a focus on conviction investment themes and dislocation opportunities.

About Trilogy Real Estate

Trilogy Real Estate was founded in 2015 by former Resolution Property partner Robert Wolstenholme as an investment and development company specialising in transforming unloved assets to create inspiring and positively impactful mixed-use innovation campuses where the world of work meets education, skills and training.

Toulouse (November 7, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announces the completion of Quai Saint-Pierre, a senior living development in central Toulouse that was acquired under a VEFA contract in December 2021 on behalf of Encore+, LaSalle’s flagship pan-European core-plus fund.

Quai Saint-Pierre comprises three connected buildings with over 4,500m² in total area, including 89 residential flats and 43 car parking spaces. The property offers excellent amenities to its residents across almost 800m2 of communal spaces, including a restaurant, swimming pool, tea-room with fireplace, library, fitness room, terraces and gardens.

LaSalle Encore+’s acquisition of the asset in 2021 represented the firm’s first senior-living investment in continental Europe and the Fund’s inaugural move into the sector.

The project was fully pre-let at the time of the acquisition from the developer COGEDIM, a subsidiary of the ALTAREA Group. Now completed, Quai Saint-Pierre will be operated by Nohée (previously Cogedim Club), the ALTAREA Group’s integrated senior residence management entity, which led the delivery of the project alongside development project manager Etyo.

Located in the centre of Toulouse, the fourth largest city in France, Quai Saint-Pierre enjoys both an excellent macro and micro location. Toulouse is one of the country’s most attractive urban areas, with its strong transport connections to Paris and temperate climate thanks to its location between the Pyrenees and the Mediterranean. The asset is located in one of the most sought-after, affluent areas of the city along the banks of the Garonne River and will also be well-served by close links to public transport, major road networks and Toulouse-Blagnac Airport.

David Ironside, Fund Manager for LaSalle Encore+, said: “We saw this development as a highly attractive way of increasing LaSalle Encore+’s exposure to alternative property sectors and 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.”

Jacques-Olivier Gourdon, Deputy Managing Director of LaSalle France, added: “The successful delivery of the project is testament to the skillset of our French asset management team and our strong relationships with partners like Etyo and Cogedim. In the context of increasing land scarcity and intensification of land use, we are very proud to have been able to breathe new life into this brownfield site, which bears witness to the city’s rich industrial past, while at the same time making the most of its remarkable neoclassical architecture.”

The history of the Quai Saint-Pierre site reflects that of Toulouse. Its origins date back to the early Middle Ages, with ship mills, grain mills, pastry mills, and paper makers among the industries established in the area in the 12th century, making the site the city’s first “industrial quarter”. In 1888, the Toulouse Electricity Company transformed the mills into a hydroelectric plant dedicated to public lighting in the city centre. In the 20th century, the site underwent further changes under the leadership of EDF, which took ownership of the power plant and the buildings in 1946. In 2012, a public entity purchased Quai Saint-Pierre with plans to establish the Institute of Political Studies of Toulouse, but the project did not obtain the support of local residents. The site then changed hands again, with the intention of being redeveloped into housing, but after the project stalled, the property was left vacant for several years, until LaSalle secured approval for a senior-living residence in 2021 – marking the latest chapter in Quai Saint-Pierre’s ongoing evolution of uses.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

London (November 5, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announces that it has provided a loan facility of £123 million through its flagship real estate debt fund, LREDS IV, to finance the acquisition of two UK holiday parks on behalf of One Investment Management (“OneIM”), a global alternative investment manager, and Foundation Partners, an independent private equity firm.

Located across the UK in Somerset (Unity Farm) and Yorkshire (Skirlington), the holiday parks benefit from proximity to the coast, lakes and local amenities, and collectively comprise around 4,300 pitches with about half of those currently operational.

The sites represent some of the largest UK holiday park assets that are not currently held in institutional portfolios. OneIM and Foundation Partners’ investment will help the two sites expand their number of pitches, develop new holiday homes for prospective visitors, grow the onsite offering and professionalise local operations. Underpinned by strong fundamentals and significant growth potential, the two large-scale parks represent the first seed assets as part of a targeted £500 million platform called Unity Holidays, which OneIM and Foundation Partners intend to grow.

Nathan Jackson, Director, LaSalle Debt Investments, said: “We are pleased to have supported best-in-class sponsors in OneIM and Foundation Partners to secure these high-quality assets in the UK leisure market. The breadth and depth of expertise in the LaSalle Debt Investments platform has ensured that we’re able to deliver a bespoke financing solution to clients and capitalise on attractive opportunities for our investors. We very much look forward to continuing to support OneIM and the future growth of their platform.”

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About LaSalle Debt Investments

LaSalle Debt Investments is part of LaSalle’s growing US$ 10 billion Debt and Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

About OneIM

OneIM is a global alternative investment manager that invests across the capital structure, in a range of asset classes, industries and geographies. The firm applies a flexible investment approach driven by fundamental analysis, focusing on credit special situations and capital dislocations. OneIM seeks to provide tailored capital solutions built on proprietary sourcing and underwriting complexity. OneIM is sector agnostic and targets complex situations that do not fit into a single asset class, where truly bespoke structured investments can offer superior risk-reward dynamics and asymmetrical outcomes. The firm was founded in 2022 and currently manages approximately $7 billion in assets. The team operates from offices in Abu Dhabi, London, Tokyo and New York.

Toronto (October 22, 2024) – LaSalle Canada Property Fund (“LCPF” or “the fund”), LaSalle Investment Management (“LaSalle”)’s core real estate fund in Canada, has achieved the highest rating of five stars from the 2024 Global Real Estate Sustainability Benchmark (“GRESB”), an industry-recognized global Environmental, Social and Governance (ESG) benchmark for asset managers. Additionally, LCPF has been named the Real Estate Sector Leader for all Americas Private Diversified Funds, ranking first out of 112 entities in this category.

LaSalle Canada Property Fund scored 90/100 on the annual assessment, earning first place within its 17-member sector peer group. This achievement highlights the fund’s market-leading sustainability initiatives that continue to play a key role in the active asset management of the LCPF portfolio. In addition to the recognition for LCPF, seven other LaSalle funds and separate accounts domiciled across Europe, North America, and the Asia-Pacific regions were awarded a 5-star rating, with five additional LaSalle funds achieving a four-star rating.

Elena Alschuler, LaSalle Head of Sustainability, Americas, said: “This latest recognition as a GRESB sector leader reflects LaSalle’s ongoing dedication to meeting our clients’ sustainability goals, while enhancing the market value of our properties. Since its inception in 2017, LCPF has viewed sustainability as a key component of a high-quality property.  This investment view informs decisions about both acquisitions and capital improvements, resulting in a portfolio that is in a leading position amongst peers.” 

Sam Barbieri, LaSalle Managing Director of Development and Fund Management, added: “LCPF stands as a strong example of our commitment to both sustainability and investment excellence. This year’s GRESB score and our position as the Real Estate Sector Leader for all Americas Private Diversified Funds are a testament to the team’s hard work over the past year developing and embracing new strategies that align with the fund’s philosophy of ensuring ESG goals are met, while simultaneously generating income for clients.”

The LCPF portfolio exemplifies sustainability across its diverse properties, with several standout examples highlighting this commitment. Montréal’s Maison Manuvie boasts net zero carbon performance, Ottawa’s 275 Slater is undergoing sustainability upgrades targeting LEED Certification, and the Tricont logistics properties in Whitby were designed to meet the prestigious LEED® Silver certifications through the Canada Green Building Council. These assets, among others in the portfolio, demonstrate LCPF’s broad commitment to environmental responsibility across various property types and locations.

LCPF’s portfolio totals nearly 9.4 million square feet across Vancouver, Calgary, Edmonton, Toronto, Ottawa and Montreal – the key markets in Canada’s investable real estate universe. The portfolio includes industrial, multifamily, office, retail and mixed-use properties, along with select development projects in these sectors.

ENDS

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 | Investing Today. For Tomorrow

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About GRESB

GRESB is an industry-driven organization transforming the way capital markets assess the environmental, social and governance (ESG) performance of real asset investments. More than 900 property companies and funds, jointly representing more than USD 3.6 trillion in assets under management, participated in the 2018 GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment. GRESB data and analytical tools are used by more than 75 institutional and retail investors, including pension funds and insurance companies, collectively representing over USD 18 trillion in institutional capital, to engage with investment managers to enhance and protect shareholder value. Greater transparency on ESG issues has become the norm, with GRESB widely recognized as the global ESG benchmark for real assets. For more information about GRESB and its ESG benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.

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

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

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

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

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

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.

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

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

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

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

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

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

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

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

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

About Nareit

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

Paris (September 11, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has agreed a 10-year lease of its landmark office building at 69 Boulevard Haussmann in Paris with FLEX-O, a provider of premium coworking and office spaces. As part of the deal, the building, which is owned by LaSalle’s flagship pan-European core-plus fund Encore+, will undergo a new fit-out, including the replacement of windows, led by FLEX-O and its parent company Groupe Courtin.

The building offers a total lettable area of 6,700 square meters over seven floors and car parking for 95 cars. Situated in a prime location in the heart of the prestigious eighth arrondissement, 69 Boulevard Haussmann offers views of Rue des Mathurins and Rue des Arcades and exceptional transport connections. It is located just 150 metres from Saint Lazare train station and a few minutes’ walk from metro lines 3, 8, 9, 12, 13 and 14, as well as the RER regional express lines A and E. The iconic Haussmannian building is positioned in the capital’s Central Business District and on one of its main shopping streets, close to major department stores.

Scheduled for completion in March 2025, the fit-out of 69 Boulevard Hausmann will transform the building into a modern workspace, combining an outstanding city-centre location with a premium range of amenities, services and technologies. The long-term lease signed with a single tenant reaffirms LaSalle’s ability to provide investors in Encore+ with exposure to high-quality commercial real estate assets in Europe’s leading markets.

David Ironside, Fund Manager, LaSalle Encore+, said: “Hosting FLEX-O at 69 Boulevard Haussmann demonstrates the flexibility of this building to adapt to a variety of uses and layout configurations, as well as the growing tenant demand for centrally located, high-quality offices. FLEX-O’s offering, their eco-responsible approach and experience in creating modern, flexible workspace environments have convinced us to work together to revitalise the attractiveness of this landmark building.”

Christophe Courtin, Founder and CEO of FLEX-O, states: “With this new location on one of the most beautiful boulevards in Paris, within one of its most iconic buildings, we strengthen our presence in the capital and reach a decisive milestone in our development. FLEX-O Paris Haussmann stands out not only for its strategic location but also for its exceptional quality, which reflects our commitment to providing our clients with prestigious and accessible workspaces. We are delighted to be partnering with LaSalle to deliver on our vision of flex-office and coworking, which combines innovation, eco-responsibility and flexibility, meeting the diverse needs of all types of modern companies.”

BNP Paribas Real Estate represented both parties in this transaction.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

Paris / Île-de-France is home to Europe’s top micro-locations for efficient logistics distribution, according to the inaugural release of the Paths of Distribution score, published today by LaSalle Investment Management (“LaSalle”). The innovative, granular new research gives the ability to compare logistics locations at a micro, market, country and pan-European level, with extensive flexibility for understanding, benchmarking and ranking locations at both micro and macro scale.

The Netherlands, thanks to its immediate access to Europe’s major consumption centres and having one of the crossroads of trade within and into Europe, was identified as the strongest-performing country. The port city of Rotterdam, the key gateway of global trade, ranked second and is joined in the top 20 regional markets by local rivals Amsterdam and the North Brabant region of Breda and Tilburg. Germany, the second-best performing country, provided another five of Europe’s top 20 markets, all in the west of the country, establishing this corner of north-western Europe as a hotspot for manufacturing and transportation. The UK, although separated from continental European logistics markets, placed third in the country standings, with Greater London its highest-ranked logistics market, although the West and East Midlands, the North-West of England (surrounding Manchester) and Kent all placed in the top 20 thanks to their strong infrastructure.

Belgium was fourth best performing, with the Antwerp and Brussels markets ranking seventh and seventeenth respectively. The wider Milan region also scored highly in the rankings, despite comparatively low investment volumes historically, while the Veneto-Verona corridor was another Italian market which scored well, with domestic consumption being the primary driver. Likewise, in Poland, the biggest winners were the Katowice-Krakow corridor and Lodz – ranking above the capital Warsaw – both growing notably in recent years and benefitting from investment in infrastructure and labour availability. LaSalle’s analysis shows there is a positive correlation between Paths of Distribution and logistics take-up, making a connection between current demand and these locations’ potential.

Micro-location and methodology
The research is the first of its kind, and takes an innovative, granular approach to its methodology, breaking the continent down into 158,445 10-kilometre hexagons. Each micro-location is scored across four key pillars of manufacturing output, consumer spend, infrastructure quality and the proximity to skilled labour. The model not only factors in demand, but also considers the cost from an operator’s perspective of meeting that demand, using an extensive set of region-to-region road freight transport cost metrics, along with a random forest machine learning model evaluating how extensive and accessible the road network is at the most granular level.

The top scoring micro-location hexagons are in the Eastern Crescent that semi-circles Paris, stretching from the area surrounding the Charles de Gaulle airport in the north, moving south-east through Noisy-le-Grand, then continuing south covering Créteil. This sub-market of Paris benefits from excellent connectivity into Paris, as well as to the wider French market, and further north and east.

Logistics distribution scoring is unlike other city rankings because it is about far more than central cities – entire regions and all the micro-locations within them are potentially efficient places for distribution. So the LaSalle team took a new approach filling in all the gaps in the regions of Europe between cities. The vibrant maps showing location scores across all of Europe highlight the corridors, conurbations, clusters, and crescents which define the optimal locations for modern logistics.

Petra Blazkova, Head of Research & Strategy, Core & Core-Plus Capital, Europe at LaSalle, said: “With continued uncertainty around energy prices and supply chains being disrupted, cost uncertainty is high across the continent for logistics providers. Location is a key variable which distributors can still control, and so it is more important than ever: optimising your choice of location can help minimise exposure to these other risks and protect your supply chain. Today’s rankings demonstrate which areas are best for distributors to try to insulate themselves from those pressures. As investors in the sector, this new insight into the most resilient logistics markets in Europe informs our portfolio composition and asset management.”

The full top 20 logistics markets were as follows:

1 Paris / Île-de-France, France
2 Rotterdam, The Netherlands
3 Frankfurt-Mainz, Germany
4 Milan, Italy
5 Greater London, United Kingdom
6 Rhine-Ruhr, Germany
7 Antwerp, Belgium
8 West Midlands, United Kingdom
9 Madrid, Spain
10 Dortmund, Germany
11 Amsterdam, The Netherlands
12 East Midlands, United Kingdom
13 Stuttgart, Germany
14 North West England (Manchester), United Kingdom
15 North Brabant (Breda-Tilburg), The Netherlands
16 Karlsruhe-Mannheim corridor, Germany
17 Brussels, Belgium
18 Veneto-Verona corridor, Italy
19 Kent, United Kingdom
20 Barcelona, Spain

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

London (September 3, 2024) – LaSalle Investment Management (“LaSalle”) and Trilogy Real Estate today announce the arrival of De Montfort University (DMU) to their education and innovation campus in East London: The Amp.

DMU will take 18,000 square feet, taking The Amp’s total building occupancy to 83% as it celebrates the first anniversary of its opening last September.

The move brings DMU students right into the heart of London, where it will offer postgraduate students programmes specialising in sustainable practice, aiming to equip professional managers and aspiring leaders with the skills to manage businesses ethically and lead with social responsibility underpinned by DMU’s commitment to the UN Principles for Responsible Management Education (PRME).

Located at 41–71 Commercial Road in Aldgate, The Amp is a new campus for education and innovation in the East London district of the Tower Hamlets. Tenants alongside De Monfort University include Nottingham Trent’s Confetti Institute of Creative Technologies, Access Creative College and London College of Contemporary Arts.

The construction project to transform The AMP was completed in under a year to meet the operational requirements of the education occupiers, who needed an opening date in September 2023. The Amp provides space for education and innovation in a well-connected location, with one foot in central London and the other in the dynamic creative scene in the East of the city. Specialist on-site facilities include recording studios, multi-purpose performance space and an arena for gaming and esports.

The Amp reprises Trilogy’s successful partnership with LaSalle Investment Management, which has previously resulted in the transformation of Republic London from a dated office and disaster recovery space to a thriving education campus with over 15,000 students attending six universities and private education providers. The next phase of Republic London was granted planning consent last year and will also include 715 rooms of purpose-built student accommodation and a modern data centre, adding an infrastructure component to this mixed-use development and creating a new kind of urban campus centred on innovation, higher education and accommodation.

Chris Lewis, Managing Director, LaSalle Value-Add Investments, said: “The addition of De Montfort University to our exciting mixture of universities at The Amp, taking the campus to 83% let within a year of opening, shows the strength of the offer and the demand for education-led innovation campuses in leading European gateway cities.

“The Amp forms part of LaSalle’s broader European value-add strategy, bridging the gap between infrastructure and real estate, with a focus on new economy sectors such as mixed education campuses, urban accommodation, student housing, private medical facilities, distribution and data centres.”

May Molteno, Head of Campus Experience and Social Impact, Trilogy Real Estate, added: “At Trilogy we thrive on delivering exceptional education and innovation campuses which deliver high-quality facilities for colleges, universities and business. It is a testament to what the team has achieved here at The Amp that we are able to attract universities such as De Montfort. We look forward to welcoming students on site to join what is fast becoming a bustling community of learners and future innovators.”

DMU’s Vice-Chancellor, Professor Katie Normington, commented: “This expansion marks a pivotal moment for DMU as we reinforce our commitment to sustainability and educational innovation. For the first time, all staff at the new campus will undergo sustainability training, and Carbon Literacy will be integrated into the core curriculum for all students.

“Moving into The Amp allows us to do this in a unique way that give our students a campus experience while empowering them students not only through classroom-based sustainability-focused learning but also through direct engagement with the UN, industry partnerships, internships, networking opportunities, and practical experiences within London’s thriving business community.”

41-71 Commercial Road was originally built in 1971 as the London College of Furniture. The college operated until 1992, when it was taken over by London Metropolitan University, and the building was vacated in 2016 when the university rationalised its estate.

Work on the seven-floor refurbishment began in October 2023, led by main contractor Oktra, Project Manager Quartz Project Services, Architect Hawkins\Brown and Civic Engineers.

The completed building provides flexible, open floorplate space tailored to the needs of universities and colleges, as well as business and industry partners that may look to co-locate with a university to access the talent of the future and provide facilities for research and industry innovation. The Aldgate and Whitechapel area is already well established as a community for higher education, as well as being one of Central London’s youngest and fastest growing neighbourhoods, with a major life sciences cluster planned for the site of the former Royal London Hospital Buildings to the north of The Amp.

Allsop and DLA acted on the deal for Trilogy and LaSalle. DMU has been advised by Metric RE and Mills and Reeve.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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

About LaSalle Value-Add Investments

LaSalle Value-Add Investments is part of LaSalle’s growing US $10 billion Debt and Value-Add Strategies platform in Europe and targets higher-return real estate equity investments across Europe, with a focus on conviction investment themes and dislocation opportunities.

About Trilogy Real Estate

Trilogy Real Estate was founded in 2015 by former Resolution Property partner Robert Wolstenholme as an investment and development company specialising in transforming unloved assets to create inspiring and positively impactful mixed-use innovation campuses where the world of work meets education, skills and training.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired a central London hotel from abrdn for £56 million on behalf of a UK Custom Account client.

The modern, 291-bedroom hotel is situated on the Minories, at Tower Hill in the City of London. The hotel is let to Motel One – the European hotel operator – on a long-term inflation-linked lease. The building achieved a BREEAM ‘Excellent’ rating on its construction in 2014 and has an EPC rating of ‘A’.

Sophie Simmonds, Managing Director, UK Custom Accounts at LaSalle, said: “We are delighted to add this acquisition to our client’s growing portfolio. The hotel meets our objectives, being a high-quality asset with strong sustainability credentials, in a fantastic city-centre location, with a long-term inflation-linked income stream, and leased to a leading European hotel operator.”

LaSalle was advised on the transaction by Kimmre. abrdn was advised by JLL.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit www.lasalle.com, and LinkedIn.

Chicago (July 9, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announced that it has promoted Kyle Dupree to Head of Asset Management and Pat Pelling to Head of Transactions. Both are long-time LaSalle veterans who will report to Brad Gries, Head of Americas, in their new roles.

As Head of Asset Management, Kyle brings a wealth of experience executing asset-level strategies, honed through his years of experience on the asset management team. Having joined the firm in 2010, Kyle has demonstrated exceptional growth and leadership, and will be responsible for leading asset management initiatives and processes across various property sectors. He also provides strategic leadership for digital enterprise applications and spearheads the valuation process for U.S. private equity. Kyle is based in LaSalle’s San Diego office.

Pat works out of LaSalle’s New York office, and succeeds Brad as Head of Transactions. Pat has an impressive track record of success at the firm, with over 15 years of experience in both asset management and transactions positions. Most recently, Pat has been a key leader with the transactions group – sourcing, underwriting, and executing new investments. He has also served as a thought leader, driving new, strategic investment initiatives, programmatic partnerships and cultivating key relationships.

Brad Gries, Head of Americas at LaSalle Investment Management, commented: “These promotions highlight LaSalle’s continued focus on strategic leadership succession and our desire to foster the growth of talented people within our firm. Both Kyle and Pat are exceptionally good at what they do, and we are proud to welcome them into these leadership roles.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.
LLaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately 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.

Chicago (June 3, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announced that Brad Gries has been named Head of the Americas. Brad, who previously served as Co-Head of the Americas, will retain his position as Chair of the LaSalle Americas Investment Committee, resume his role as Co-Chief Investment Officer for LaSalle Americas and maintain his role as part of the Global Management Committee.

As Head of the Americas, Brad will oversee all personnel, operational, and investment management activities across the region for LaSalle.  As Co-Chief Investment Officer, Brad’s focus will be on setting investment strategy and execution for the firm, continue to be an active participant in the firm’s capital raising efforts as well as direct involvement in the formation and execution of joint ventures and large portfolio transactions. Kristy Heuberger, who was formerly Co-Head of the Americas, will be leaving LaSalle this summer to pursue new opportunities.

Brad has had a successful career at LaSalle since joining the firm in 2017 to lead the US Transactions team.  In 2019, Brad also took on the role of Co-Chief Investment Officer for the Americas to help direct investment strategy and was appointed Co-Head of the Americas in 2021.

Prior to joining LaSalle, Brad held multiple leadership positions over 16 years at the real estate investment arm of DWS, most recently serving as Managing Director, Real Estate Transactions. In that role, he led the acquisition team responsible for new investment initiatives in the Central and Southeastern United States, including investments in all property types and across the risk spectrum.

Brad Gries, Head of Americas at LaSalle Investment Management, commented: “I am excited to continue leading our highly talented team, building on the great results we have achieved in the Americas. Kristy has been an incredible partner and it has been an honor to have worked closely with her over the past several years. I wish her the best in this next phase of her successful career.”

Mark Gabbay, Global Chief Executive Officer at LaSalle Investment Management, added: “We thank Kristy for her contributions in advancing our Americas platform over the past nine years and wish her the best in her next chapter.  We have deep conviction in the Americas team under Brad’s leadership to continue delivering optimal outcomes for our investors and stakeholders and further propel the growth and development of our Americas business.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately 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.

London (June 4, 2024) – LaSalle Investment Management, the global real estate investment manager, has provided a loan facility of €150 million through its flagship real estate debt fund, LREDS IV, to refinance a portfolio of 17 big-box logistics assets across Europe owned by Brookfield through its private real estate funds.

Brookfield has partnered with leading development managers Panattoni and Logistik Service to source opportunities, develop and lease the projects. The portfolio includes 17 projects across Sweden, Spain, Germany and Poland, split between six completed projects (five of which are fully let), four in development and seven consented plots. It focuses on grade-A high-specification logistics assets with a typical BREEAM rating of Very Good or Excellent.

David White, Head of LaSalle Real Estate Debt Strategies, said: “Working with a best-in-class sponsor in Brookfield and two top-tier development managers in Panattoni and Logistik Service means our facility is secured against some of the highest-quality assets and projects available in the European logistics market. Our team works to provide bespoke solutions to our borrower’s needs, and we are pleased to support such a high-quality logistics portfolio.”

Rohit Srivastava, Managing Director in Brookfield’s Real Estate Group, added: “We are pleased to work with LaSalle to complete this refinancing, which will support the continued growth of our portfolio of big-box logistics assets. The team were able to provide a bespoke financing package that addressed our requirements.”

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages almost 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.

About LaSalle Debt Investments
LaSalle Debt Investments is part of LaSalle’s growing $US 10 billion Debt and Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

Marketing Disclaimer: This information 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 information purposes only 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. Please refer to the offering documents Encore+ for detailed information on the risks, reward and performance information of the Fund.

Toronto (May 6, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has appointed Michael Fraidakis as Head of Alternative Investment Strategies and Chief Investment Officer, Canada, strengthening the firm’s senior team in the region. He will lead LaSalle’s existing flagship value-add fund series in Canada and play a primary role developing new investment strategies and associated capital raising.

Michael is an industry veteran with 27 years of multi-functional leadership experience across all real estate asset classes and markets in Canada reflecting over C$20 billion in completed transactions throughout his career. He joins LaSalle from BGO, where he was most recently Managing Director, Head of Canadian Investments, responsible for the development and execution of investment strategies across all clients, funds, markets, and sectors. Michael began his career at BGO as an analyst in 2002, and over the years established himself as the company’s lead underwriter in Canada. Michael led multiple growth initiatives including product and business development as well as growing the firm’s programmatic partnerships. Prior to BGO, Michael held roles in finance at Beutel Goodman Real Estate Group and the Cadillac Fairview Corporation.

As part of this newly created role, Michael will assume the responsibilities of Chris Lawrence, Head of Value-Add Strategies, Canada, who is set to retire in June this year. Michael joined LaSalle on April 15 and reports to John McKinlay, CEO of LaSalle Canada, in the firm’s Toronto office.

John McKinlay, CEO of LaSalle Canada, said: “We are proud to welcome Michael to the firm as we continue to scale our investments across Canada and especially as alternative property classes grow increasingly important to our institutional clients. By leveraging his extensive industry relationships and expanding relationships both domestically and abroad we will further strengthen our position in the market. His deep understanding of Canada’s real estate markets and inveterate experience driving growth initiatives and portfolio strategy is a great enhancement to our team.”

Michael holds a Master of Business Administration in finance and real property development from the Schulich School of Business, and a Bachelor of Administrative Studies (Honours) in accounting and finance from York University.

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over US $89 billion of assets in private and public real estate equity and debt investments as of Q4 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.

Chicago (April 29, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announced that Jeffrey Shuster will succeed Joseph Muñoz as President of LaSalle Value Partners US (LVP US), effective immediately, and will also lead LaSalle’s US high return strategies.

In his new role, Jeffrey will lead LVP US, LaSalle’s flagship value-add fund series in the United States and will also spearhead LaSalle’s expansion of high return investment offerings in the U.S.

Jeffrey joined LaSalle in 2020, most recently serving as the Head of Investments for LVP US where he was instrumental in shaping, developing, and executing the funds’ investment strategy. He has over 19 years of real estate experience across both equity and debt investing.

Prior to joining LaSalle, Jeffrey spent 12 years at Starwood Capital Group, where he held diverse leadership roles across acquisitions, joint venture management and asset management.

Jeffrey Shuster, incoming President of LVP US at LaSalle Investment Management, commented: “I am excited to have the opportunity to lead LaSalle Value Partners in the United States and to grow our high return franchise. We have deep conviction in LVP’s investment strategies and remain focused on delivering the premium investment returns that underpin our clients’ long-term success. I look forward to working with our investors in this new and expanded role, supported by my highly experienced colleagues and our integrated operating platform, to achieve their investment objectives.”

Brad Gries, Head of Americas at LaSalle Investment Management, added: “Jeffrey’s unique skillset and professional experience position him well to take on this role, having worked alongside the rest of our longstanding LVP US team to drive numerous successes for our high-return initiatives over the past four years. I look forward to working closely with Jeffrey to build upon LVP US’ contribution to our primary objective of delivering superior investment performance on behalf of our investors.”

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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 $89 billion of assets in private and public real estate equity and debt investments as of Q4 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.

Washington / New York (April 11, 2024) – A new global report from the Urban Land Institute (ULI) and LaSalle Investment Management (LaSalle), a leading real estate investment management firm, offers a new framework to help the real estate industry act on climate risk disclosure data. Across the real estate industry, practitioners understand physical climate risk to assets and portfolios poses a financial risk, but there are still many challenges to enacting on the data being collected and disclosed.

This new framework is the latest tool for real estate investors and other practitioners to evaluate the costs of action and inaction when it comes to investing in resilience. The report, Physical Climate Risks and Underwriting Practices in Assets and Portfolios, is the second in a series by ULI and LaSalle. Building on the first report that outlined how to source and interpret reliable climate risk data, the second provides a market overview, adaptable framework, and recommendations based on emerging best practices for incorporating physical climate risk in the underwriting process.

“Physical climate risk data collection and disclosure is the first step the real estate industry can take to further invest in and build resilient infrastructure,” said Lindsay Brugger, head of Urban Resilience at ULI. “Data drives action and doing nothing incurs deeper costs — from higher insurance premiums to asset repair or replacement. Focusing on the underwriting process, the framework offers investment managers a methodology for developing risk-adjusted returns so deals can be adapted in alignment with a firm’s fund or portfolio objectives.”

“Of the $850 billion of commercial real estate tracked by NPI, LaSalle estimates $285 billion, or 34% is situated in high and medium-high climate risk zones in the US,” said Julie Manning, Global Head of Climate and Carbon at LaSalle Investment Management. “This report helps provide guidance that investment managers can follow to factor the climate risk data they have available to them and improve outcomes at the asset and portfolio level. We want to lead the conversation across the industry and collaborating with ULI is a great conduit to amplify the discussion that will ultimately benefit investors of all kinds with more resilient real estate portfolios.”

The framework is broken down into three steps for decision making based on individual asset risks, local market risks, and ongoing risk mitigation efforts:

1. Evaluate the level of exposure to physical climate risk and financial implications;
2. Identify hazard mitigation strategies and estimate associated costs; and
3. Determine risk-adjusted return and whether or not that return meets firm objectives

The redevelopment will also look to meet future tenant requirements and evolving work trends with high-quality amenities to promote in-person interaction and facilitate a hybrid working, including an auditorium, business centre, bars and restaurants, event spaces and a media broadcast studio.

As climate impacts continue to influence real estate markets around the world, improving understanding of physical climate risk and adjusting pricing to reflect risk are growing imperatives. Firms can better navigate the complexities of physical climate risk and capitalize on emerging opportunities by leveraging this new report’s insights and guidance. Prioritizing knowledge diffusion and empowering informed decision-making processes is key to effectively managing and mitigating incoming climate risks in the evolving real estate industry, whether at a community or individual building scale.

The full report and downloadable framework can be found on ULI’s Knowledge Finder.

REPORTERS AND EDITORS: For more information, please contact:

ULI

media@uli.org

LaSalle

Drew McNeill

drew.mcneill@lasalle.com

About the Urban Land Institute

The Urban Land Institute is a non-profit education and research institute supported by its members. Its mission is to shape the future of the built environment for transformative impact in communities worldwide. Established in 1936, the institute has more than 48,000 members worldwide representing all aspects of land use and development disciplines. For more information on ULI, please visit uli.org, or follow us on Twitter, Facebook, LinkedIn, and Instagram.

 About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over US $89 billion of assets in private and public real estate equity and debt investments as of Q4 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.

London (March 11, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has appointed Bouygues Rénovation Privée (“Bouygues”) as the main contractor for the redevelopment of Bergère, a landmark office-led, highly-amenitized workspace project in Paris.

Situated in the 9th Arrondissement, Bergère is in a prime location in the heart of Paris, surrounded by a thriving cluster of companies from across technology, fashion, and financial and professional services. It forms part of a vibrant urban environment with a high concentration of restaurants, bars, shops, department stores, and cultural and leisure facilities. Positioned just 150 metres from the Grands Boulevards metro station, Bergère also benefits from convenient transport links and access to three of Paris’s largest transportation hubs: Gare du Nord, Saint Lazare and Chatelet – Les Halles. The renovated building will have a floor area of approximately 26,850 square meters and was redesigned by the leading French architectural firm PCA-Stream.

Scheduled for completion in Q1 2026, the redevelopment of Bergère will incorporate industry-leading sustainability practices. This will involve a sensitive restoration of the building’s architectural heritage while upgrading the technical equipment to meet operational Net Zero Carbon goals. The project will prioritise the reuse of materials to minimise the projected embodied carbon associated, and the building is targeting a BREEAM Excellent certification, with a 50% reduction in operational CO2e and a 20% reduction in embodied CO2e compared with the benchmark for Parisian office renovations.

The redevelopment will also look to meet future tenant requirements and evolving work trends with high-quality amenities to promote in-person interaction and facilitate a hybrid working, including an auditorium, business centre, bars and restaurants, event spaces and a media broadcast studio.

Marc Fauchille, Head of Development and Repurposing, Europe, LaSalle Investment Management, commented: “We are excited to work together with the experience and expertise at Bouygues Bâtiment Ile-de-France on Bergère, to create an innovative and truly revolutionary workspace in the heart of Paris. Bergère is set to be a prime office-led development in Paris, situated in a highly sought-after location in one of the strongest European markets. The project is already attracting a high level of tenant interest given its quality, location and sustainability credentials.”

Thomas Rousseau, Managing Director of Bouygues Bâtiment Ile-de-France Rénovation Privée, adds: “We are very proud to have been selected by LaSalle Investment Management for this Parisian prime office restructuring operation, which is also listed as a Historic Monument. The teams were particularly driven by the ambition of the project, the technical complexity as well as the challenges in terms of uses and the environment. This success is the result of collective work. Our teams are already mobilized to highlight their expertise and know-how in heritage restoration, our core business. This building is a real showcase for our company in terms of decarbonization, exemplarity and innovation. A big thank you to LaSalle Investment Management and its partners for trusting us with the realization of this exceptional project.

LaSalle acquired Bergère, on behalf of Encore+, its flagship open-ended pan-European fund, in May 2020 from BNP Paribas in a sale-and-leaseback transaction.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately US $90 billion of assets in private and public real estate equity and debt investments as of Q4 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.

Marketing Disclaimer: This information 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 information purposes only 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. Please refer to the offering documents Encore+ for detailed information on the risks, reward and performance information of the Fund.

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately US $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.

London and Zurich (February 5, 2024) – LaSalle Investment Management and Swiss Life Asset Managers complete a joint venture focusing on the German logistics market. The venture will recapitalise a €320 million seed portfolio of five grade-A fully let logistics assets contributed by Swiss Life Asset Managers and seek to acquire and develop additional logistics assets. Swiss Life Asset Managers will act as the asset and investor-developer manager and the insurance arm of Swiss Life will retain a minority equity stake in the aggregate portfolio.

The five seed assets, across the Rhein-Ruhr, Koblenz and Zwickau regions, have a total lettable area of 236,000m² with 100% CPI-indexed rents.

This investment presents LaSalle with an opportunity to partner with a best-in-class manager in a preferred sector, overseeing a portfolio of exceptional award-winning, state-of-the-art logistics assets in the robust German logistics market. The partnership is set to leverage Swiss Life Asset Managers’ fully integrated logistics platform and benefit from the sustained high demand for logistics assets in key trading and transport hubs across continental Europe.

Mathias Malzbender, Managing Director, LaSalle Global Solutions, commented: “This investment and partnership with Swiss Life Asset Managers, a leading institutional real estate developer and manager, provides us with an exceptional opportunity to expand in one of the most sought-after sectors in Europe. Swiss Life Asset Managers is a sophisticated and valued partner, and we look forward to building a successful relationship and continuing the success of this portfolio. Given that the German logistics market is among the top-performing in Europe, focusing and expanding in this region has long been a priority for us at LaSalle.”

Per Erikson, Head Real Estate at Swiss Life Asset Managers, added: “We are pleased to partner with LaSalle and create long-term value for our stakeholders. Our unique insights and access to the investment market as well as our development expertise have become a differentiating feature and a competitive advantage. I am particularly pleased that our European Logistics platform, headed by Ingo Steves, developed the exclusive seed portfolio for this venture. In LaSalle we have a like-minded and solid partner investing with us in the dynamic and promising European logistics market.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately US $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.

About Swiss Life Asset Managers

Swiss Life Asset Managers has more than 165 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany, Luxembourg, the UK, Italy and the Nordic countries. As at June 30, 2023 assets under management for third-party clients amount to €114.8 billion. Together with insurance assets for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at €265.8 billion. Swiss Life Asset Managers is a leading real estate manager in Europe.¹ Of the assets totalling €265.8 billion, €91.7 billion is invested in real estate. In addition, Swiss Life Asset Managers, in cooperation with Livit, manages real estate totalling €21.6 billion in value. Total real estate assets under management and administration at the end of June 2023 thus came to €113.3 billion.

¹ INREV Fund Manager Survey 2023 (AuM as of December 31, 2022)

London (January 29, 2024) LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces that Alexandre Arhuis-Grumbach has been appointed to the newly created role of Head of Transactions Europe, Core and Core+ Strategies.

Previously Head of Encore+ Transactions, Alexandre will now oversee all transactions, across LaSalle’s core and core+ commingled funds (including the firm’s flagship Encore+ fund) and custom accounts in Europe.

In his new role, the core and core-plus transactions teams across the UK and continental Europe will report into Alexandre, who will in turn report into LaSalle’s Head of Europe, Philip La Pierre.

Alexandre has worked at LaSalle for more than 13 years, having joined in 2010 as a financial analyst on a pan-European Value-Add fund before becoming an acquisitions manager in France. He earned an MSc in Civil Engineering from the French school ESTP and an MSc in Real Estate Management from Glasgow Caledonian University. He is also a Member of the Royal Institution of Chartered Surveyors (MRICS).

Philip La Pierre, Head of Europe at LaSalle, said: “Alexandre’s newly created role will help drive core and core-plus transactions as the market continues its recovery from the macroeconomic headwinds it has faced. Having worked with LaSalle for well over a decade, Alexandre has been instrumental in the success of our flagship Encore+ fund and we are delighted that a wider range of our clients will now benefit from his transaction expertise.”

Alexandre Arhuis-Grumbach, Head of Transactions Europe, Core and Core+ Strategies at LaSalle, commented: “This is an exciting opportunity to lead LaSalle’s core and core-plus transactions at a critical time, working with a best-in-class team to source and execute transactions in line with our clients’ investment objectives. I am delighted to take on this new role and help ensure that LaSalle continues to expand across the UK and continental Europe, while maintaining its position as one of the world’s leading real estate investment managers.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately US $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.

London (January 25, 2024) LaSalle Investment Management, the global real estate investment manager acting on behalf of Malaysian investor Permodalan Nasional Berhad (PNB), has selected Multiplex Construction Europe Limited (Multiplex) as the main contractor for the construction of One Exchange Square, a state-of-the-art 447,000 square foot office development at Broadgate Campus in the City of London. M3 Consulting are acting as the Development Manager for the project.

Designed by Fletcher Priest Architects, the 13-story scheme to be delivered by Multiplex will comprise 430,000 square feet of premium workspace and 17,000 square feet of retail, fronting both Bishopsgate and the newly re-landscaped park at Exchange Square. With 13 upper floors and floorplates averaging 40,000 square feet, the building features landscaped terraces on every floor, totalling 33,000 square feet across the building. In addition to boasting a striking feature reception and 8,000 square feet amenity lounge, One Exchange Square benefits from outstanding transport connections and a diverse array of amenities, conveniently situated just a one-minute walk from Liverpool Street Station and surrounded by vibrant locations such as Broadgate Campus, Spitalfields, Shoreditch and the City of London.

Scheduled for completion in Q1 2026. One Exchange Square is envisioned as an office of the future, designed to meet tenants’ high sustainability and wellness demands. It is targeting exemplary environmental credentials, including a BREEAM Outstanding rating, NABERS 5* and Well Platinum. By retaining 90% of the existing structure, the asset will have 50% lower embodied carbon than a typical new build office of comparable size, saving approximately 7,600 tonnes of CO2e compared to the GLA 2030 target. The project is 100% electric, using intelligent façade design and mechanical services twinned with building management systems to manage operational energy use.

Gary Moore, Head of International Accounts, Europe, LaSalle Investment Management commented: “Once completed, One Exchange Square will be a truly landmark office development in London. It will boast top-notch environmental performance ratings in a conveniently central location, and is poised to be highly sought after for years to come. We are excited to work with Multiplex on its development and construction, integrating state-of-the-art design and sustainability features to cater to the needs of its future tenants.”

Callum Tuckett, Managing Director at Multiplex, said: “We are incredibly proud to have been selected by LaSalle and PNB to transform this key building in the Broadgate campus and the City of London. We look forward to working with our development partners and all the professional teams to deliver a contemporary and highly sustainable building that will have a positive impact not just on its occupiers but on the surrounding areas of Bishopsgate and Exchange Square.”

Trowers & Hamlins LLP advised on property, planning, procurement and construction legals. The construction team was led by partner James Huckstep and assisted by Nicola Conway and Natasha Kaulsay.

JLL and Cushman and Wakefield are advising on the repositioning and leasing of the project.

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately US $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.

London (January 16, 2024) LaSalle Investment Management (“LaSalle”) and Trilogy Real Estate have completed the 135,000 square feet refurbishment of The Amp, a new campus for education and innovation in the Aldgate district of the London borough of Tower Hamlets. 40% of the building will be immediately occupied by two pre-let tenants: Nottingham Trent University’s Confetti Institute of Creative Technologies and Access Creative College.

A further two floors of the building have been let to the London College of Creative Arts (LCCA), bringing the building up to 66% occupation ahead of completion. Allsop advised Trilogy during the leasing to LCCA, and Mark Kleinman at James Andrew International acted for LCCA.

The construction project to transform the buildings at 41-71 Commercial Road was completed in under a year to meet the operational requirements of the education occupiers, who needed an opening date in September 2023. The Amp provides space for education and innovation in a well-connected location, with one foot in central London and the other in the dynamic creative scene in the East of the city. Specialist on-site facilities include recording studios, performance space and an arena for gaming and esports.

The Amp reprises Trilogy’s successful partnership with LaSalle Investment Management, which has previously resulted in the transformation of Republic London from a dated office and disaster recovery space to a thriving education campus with over 15,000 students attending six universities and private education providers. The next phase of Republic London was granted planning consent in October 2023 and will also include 715 rooms of purpose-built student accommodation and a state-of-the-art data centre, adding an infrastructure component to this mixed-use development and creating a new kind of urban campus centred on innovation, higher education and accommodation.

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

“The Amp is a great example of our venture with Trilogy, which is creating exciting new urban higher education assets to meet the increased demand from universities in gateway cities. 66% of the space has already been leased prior to completion, reinforcing The Amp’s offering as a thriving education and innovation campus.”

“It is part of LaSalle’s broader European value-add strategy, bridging the gap between infrastructure and real estate, with a focus on new economy sectors including urban accommodation, student housing, private medical facilities, distribution and data centres.”

Robert Wolstenholme, Founder and CEO of Trilogy Real Estate, said:
“The Amp is the latest example of our strategy to develop the best innovation campuses in the country. Focused on breathing new life into unloved buildings in our city centres and high streets, our goal is well-connected hubs for universities and colleges that offer easier access and more choice for students. Our buildings create opportunities to collaborate and even co-locate with industry, business, the local community and the third sector.
“The Amp has been an ambitious project to take on – we were blessed with a building with good bones, but which needed total modernisation with a 12-month turnaround. It’s testament to the skill of the team and our contractors and designers that the result belies the huge effort that has gone into getting it into tip-top condition in time and on budget. Huge amounts of work have gone into delivering a stunning, bespoke space for our occupiers and, in turn, the students that will be beginning their professional careers in this inspiring and uplifting place.”

Craig Chettle, CEO of Confetti Institute of Creative Technologies, said:

“The decision to take a pre-let at The Amp, with such a tight programme to delivery in September 2023, did present a significant challenge for us, but this was more than offset by the potential reward on offer. What has been delivered is a fully bespoke environment for our university courses in a fantastic location for our staff and students, supported by Trilogy’s focus on creating a campus for education that is more than the sum of its parts.

“We’re delighted to be here in the heart of one of East London’s great creative communities. At Confetti, we train our students for a career in the creative and entertainment industries, and being in Aldgate means there’s no shortage of opportunities for students to gain hands-on ‘Do It For Real’ experience. This, combined with the very best technology, studios, equipment and industry-connected tutors, means that students have access to the highest standard of specialist creative higher education.

The Amp was acquired by LaSalle and Trilogy from the Department for Education in a sale facilitated by the government-owned property company, LocatED, in the summer of 2022.
The partnership was advised on the acquisition by strategic real estate consultancy Kauffmans, which also acted to structure the pre-leasing agreement for Access Creative College and Confetti Institute of Creative Technologies during the negotiations to acquire the building.

41-71 Commercial Road was originally built in 1971 as the London College of Furniture. The college operated until 1992, when it was taken over by London Metropolitan University, and the building was vacated in 2016 when the university rationalised its estate.

Work on the seven-floor refurbishment began in October 2023, led by main contractor Oktra, Project Manager Quartz Project Services, Architect Hawkins\Brown and Civic Engineers.

The completed building provides flexible, open floorplate space tailored to the needs of universities and colleges, as well as business and industry partners that may look to co-locate with a university to access the talent of the future and provide facilities for research and industry innovation. The Aldgate and Whitechapel area is already well established as a community for higher education, as well as being one of Central London’s youngest and fastest growing neighbourhoods, with a major life sciences cluster planned for the site of the former Royal London Hospital Buildings to the north of The Amp.

Student lifestyles are supported by a strong local offer that includes plentiful PBSA, nightlife, leisure and food & drink options, excellent transport connectivity and proximity to London’s cultural attractions. The Amp’s location on a well-connected city-centre high street also makes it an attractive choice for mature students or students who wish to live in their family home during their studies.

Both Access Creative College and Confetti Institute of Creative Technologies have a large welcome space on the ground floor of the building, with full height glazing and their own entrances onto Commercial Road that create a highly visible public “shopfront” that encourages public interaction. Bespoke fitouts for each occupier have been completed as part of the refurbishment works, with specialist facilities including recording studios prepared for the start of the academic year.

To the rear of The Amp, the former Met Works building, a warehouse extension built in the 2000s, has been converted into an auditorium space for Confetti Institute of Creative Technologies. This auditorium will allow the Institute to host live music, comedy, spoken word, esports, screenings and more. Access Creative College will operate a music venue within their space, providing opportunities for students within the college to use their skills within a live environment.

The sustainability and energy performance of the building has been substantially upgraded, with an all-electric heating and cooling system that ensures no fossil fuels are burned on site. All new glazing and upgraded energy performance means that the refurbished building is fully compliant with the requirements of Part L and is rated BREEAM Excellent with WiredScore Platinum and an EPC “B” rating.

Ends

About LaSalle Investment Management | Investing today. For tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately US $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 lasalle.com and LinkedIn.

About LaSalle Value-Add Investments
LaSalle Value-Add Investments is part of LaSalle’s growing US $10 billion Debt and Value-Add Strategies platform in Europe and targets higher-return real estate equity investments across Europe, with a focus on conviction investment themes and dislocation opportunities. The business line was reconstituted in 2021, building on LaSalle’s long-term track record of European special situations and value-add equity investing and complementing the established opportunistic/value-add fund series in Asia and North America.

About Trilogy Real Estate
Trilogy Real Estate is a London-based real estate investment and development business specialising in unlocking the hidden potential of buildings through rigorously considered yet highly creative asset management strategies to inspire the talent of the future and regenerate urban environments. trilogyproperty.com/

About Confetti Institute of Creative Technologies
Confetti Institute of Creative Technologies is a dynamic and progressive learning institute offering specialist vocational education and training – from college-level courses to postgraduate degrees. Subject areas include audio and music technology and performance, games design and production, esports production, film and television, animation and VFX, and live events production. Home to over 2,500 students across its Nottingham and London

CHICAGO (January 11, 2024) – LaSalle Investment Management (LaSalle) has closed on the acquisition of Canal Crossing Logistics Center, a core industrial warehouse located in Phoenix, AZ. The acquisition was made on behalf of the firm’s U.S. core open-ended fund LaSalle Property Fund (LPF).

The property is 100% leased to a leading provider of alternative aftermarket, specialty salvage and recycled auto parts to repair and accessorize vehicles. The tenant is a wholly owned subsidiary of LKQ Corporation (Nasdaq: LKQ), which has operations in North America, Europe and Taiwan. The property is centrally located in the Sky Harbor Airport submarket, offering immediate access to major transportation corridors and connectivity to the Phoenix metropolitan area. Built in 2015, the property features a highly functional site plan with Class A building specifications.

Jim Garvey, President and Portfolio Manager, LaSalle Property Fund said: “This acquisition is a great fit for our portfolio and reflects our strategy to increase the Fund’s industrial allocation through investment in infill submarkets within high-growth metropolitan markets.”

Matt Bogovich, Vice President of Transactions added: “We are pleased to have acquired such a high-quality industrial asset in a strategic infill submarket of Phoenix. The Airport Submarket is the most established industrial cluster in the MSA, and this asset stands out given its newer construction and modern features.”

About LaSalle Property Fund

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

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $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 http://www.lasalle.com, and LinkedIn.

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

MONTREAL (December 20, 2023) – Ivanhoé Cambridge (“IC”) announced today that it has syndicated a 49% stake of Vaughan Mills shopping center to LaSalle Investment Management (“LaSalle”), as part of a syndication process. The 49% share represents one of the largest retail transactions Ivanhoé Cambridge has made over the past few years.

Per the syndication terms, Ivanhoé Cambridge and LaSalle will serve as co-owners, as IC will continue to act as asset manager in executing the property business plan.

“We are thrilled to share the news of this enhanced partnership with LaSalle, a sophisticated player who will contribute to the continued success of this property,” said Annie Houle, Head of Canada at Ivanhoé Cambridge. “Vaughan Mills is a prominent shopping center that has stood out over the past twenty years, highlighting the strength of retail.” 

“We are pleased to continue to build a successful relationship with Ivanhoé Cambridge, a valued best-in-class global partner and real estate leader,” said Stephen Robertson, Head of Canada Transactions at LaSalle.

Stuart Sziklas, Senior Managing Director and Portfolio Manager at LaSalle, added, “Winning retail centers have remained quite resilient through cycles, and Vaughan Mills’ leasing and occupancy track record highlights its premier location and status in the market.”

Located in Vaughan, Ontario, Vaughan Mills is visited by over 13 million people annually. The shopping center stands out thanks to its unique positioning, a distinctive 1.7 km, 1 level “race track-style” configuration, and its retail offering of both regular and outlet brands, with a strong focus on entertainment and leisure.

Vaughan Mills is 97% leased, with a significant mix of international and national brands. The shopping center underwent an expansion in 2015 and is certified BOMA Best Platinum, the highest level for this program supporting smart and sustainable building operations worldwide.

CBRE Limited acted as real estate advisors and RBC Capital Markets Realty Inc. acted as financial advisors to Ivanhoé Cambridge.

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 1,500 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$77 billion in real estate assets as of December 31, 2022, and is a real estate subsidiary of CDPQ (cdpq.com), a global investment group. For more information:  ivanhoecambridge.com. 

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 $89 billion of assets in private and public real estate property 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 http://www.lasalle.com, and LinkedIn.

CHICAGO (December 11, 2023) – LaSalle Investment Management (LaSalle) is pleased to announce it has been named a Best Place to Work in Money Management for 2023 by Pensions & Investments (P&I). This marks the eighth consecutive year LaSalle has received this prestigious recognition.

Presented by Pensions & Investments, the 12^th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.

Kristy Heuberger, LaSalle Americas Co-Head, said: “Being honored as a ‘Best Place to Work’ for an eighth year is a testament to the foundational elements of LaSalle’s success: our people and our culture. We’re proud that the culture every employee at LaSalle works hard to foster continues to be recognized.”

Brad Gries, LaSalle Americas Co-Head, added: “Our culture is reflected in everything we do at LaSalle, whether it’s providing exceptional client service,driving investment performance, developing talent, growing careers, or simply making LaSalle a place that people enjoy coming to work. We thank our employees for continuing to make our firm a Best Place to Work in Money Management.”

P&I Chief Operating Officer Nikki Pirrello said: “A strong workplace culture that supports talent, advocates progress and drives innovation is paramount to driving the best outcomes and these asset managers demonstrate that. Congratulations to the 2023 honorees for their commitment to employee well-being, attractive incentive structures and talent development that demonstrate how investing in your employees can elevate our industry to greater heights.”

P&I Executive Editor Julie Tatge said: “As their employees attest, the companies named to this year’s Best Places to Work list demonstrate a commitment to building and maintaining a strong workplace culture.  Even as firms grappled with volatile markets and ongoing stresses from the pandemic, their employees said they felt strong support from their managers, enabling them to do their best work.’’

Pensions & Investments partnered with Best Companies Group, a research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees. The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies. For a complete list of the 2023 Pensions & Investments Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2023.

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 $89 billion of assets in private and public real estate property 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 http://www.lasalle.com, and LinkedIn.

London (December 11, 2023) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has secured planning permission to redevelop and refurbish Bergère – a landmark office-led, highly-amenitized workspace project in Paris.

The building is renowned for its striking façade and exceptional architectural features, such as the main atrium and the monumental staircase. Redesigned by the leading French architectural firm PCA-Stream, the redevelopment is expected to complete by Q1 2026 and will have a lettable floor area of approximately 26,500 square meters.

Located in the 9th Arrondissement, in the heart of Paris, the building is in a prime location surrounded by a thriving cluster of companies from across technology, fashion, and financial and professional services. It forms part of a vibrant urban environment with a high concentration of restaurants, bars, shops, department stores, and cultural and leisure facilities. The demand-supply imbalance for office space in the area remains acute, with Paris CBD vacancy at 1.9% compared to a European average of 7.4% as of Q3 2023, according to JLL. The area also boasts excellent transport links, just 150 metres from the Grands Boulevards metro station, providing immediate access to three of Paris’s largest transportation hubs: Gare du Nord, Saint Lazare and Chatelet – Les Halles.

The new development will meet future tenant requirements and evolving work trends, offering state-of-the-art environmental performance ratings with high-quality amenities. These include amenities to promote in-person interaction and hybrid working, including an auditorium, business center, bars and restaurants, event spaces and a media broadcast studio. It will house 442 bicycle parking spaces, with direct access from the street, as well as changing rooms, fitness facilities and 75 EV charging stations. It will also comprise street-facing food and beverage, and a retail unit designated for affordable rent for social impact-related businesses to support the local community. It will also increase the site’s green outdoor space by 50% to more than 2,000 sqm, including a garden, two court yards and two rooftop terraces.

The project will be redeveloped with industry-leading sustainability processes and credentials in mind. This comprehensive development will involve a sensitive restoration of the building’s architectural heritage while upgrading the technical equipment to meet operational Net Zero Carbon goals. It will also prioritise the reuse of materials to reduce the projected embodied carbon associated with the project.

The building aims for a BREEAM Excellent and HQE Excellent certification with a 50% reduction in operational CO2e, and a BBCA (Bâtiment Bas Carbone) targeting a 20% reduction in embodied CO2e compared to existing Parisian office refurbishment benchmarks. It will also target the BiodiverCity label for its increase in green space and biodiversity onsite, and the project has been designed to meet the Décret Tertiaire 2050 requirements.

LaSalle has appointed JLL as principal leasing agent, with CBRE and BNP Paribas. 

David Ironside, Fund Manager of LaSalle Encore+, commented: “The refurbishment and redevelopment of Bergère will provide a truly revolutionary workspace in the heart of Paris. The European office market has become polarised, with performance increasingly distinguished by quality, location and sustainability credentials. There is growing demand for centrally-located, recently refurbished assets with superior environmental performance ratings that align with the new standards of tenant expectations. Bergère will meet all these demands, and we are excited to unveil this new development.”

Marc Fauchille, Head of Development and Re-purposing, Europe, LaSalle Investment Management, added: “Central Paris is one of the strongest European office markets, with extremely low vacancy rates and rising demand for the highest quality space. We expect this highly amentizied building will benefit from increasing rental growth due to its outstanding central location and features that appeal to tenants and the people who work, live and socialise in this area. We will also be allocating space to support local social impact-related business, which we hope can make a real positive difference in the neighbouring community.”

LaSalle acquired Bergère, on behalf of Encore+, its flagship open-ended pan-European fund, in May 2020 from BNP Paribas in a sale-and-leaseback transaction.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $78 billion of assets in private and public real estate property and debt investments as of Q1 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.

Marketing Disclaimer: This information 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 information purposes only 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. Please refer to the offering documents Encore+ for detailed information on the risks, reward and performance information of the Fund.

CHICAGO (Dec. 5, 2023) – The US and Canadian real estate markets continue to see subdued transaction volume and a wait-and-see approach from investors amid their respective central banks’ campaigns to snuff out inflation through interest rate hikes. LaSalle’s Insights, Strategy and Analysis (ISA) Outlook 2024 makes the case that secular trends, not cyclical trends, may hold answers as to where winning property types will land in 2024, with the early half of the year looking similar to 2023 and the potential for a rebound later in the year.

The report will be released in regional chapters throughout November and December, and can be viewed at: www.lasalle.com/Outlook2024.

The ISA Outlook 2024 looks at five key themes from a global and regional level:

1. The search for peak interest rates
2. Solving the capital stack equation
3. Coming off the boil
4. Beyond bifurcation
5. The changing definition of quality and core

On a broad basis in the Americas, the report observes a potential recovery later in 2024, a continued focus on interest rates and their impact and the potential for supply weighing on real estate fundamentals.

Brian Klinksiek, Global Head of Research and Strategy at LaSalle, said: “Significant unknowns remain in the global real estate market as we head into 2024, including interest rates, geopolitical tensions, and whether major economies may tip into recession. While it’s very difficult to time markets, data on previous down cycles suggest that it’s often during unsettled periods that savvy investors can find strong value in real estate, making this a potentially strong vintage for investment.”

Select ISA Outlook 2024 findings for North America include:

• The residential (encompassing both single-family rental and apartments) sector continues to see healthy fundamentals. However, as the report notes, residential properties that were bought at peak pricing in 2021 and 2022 and financed with elevated levels of floating rate debt will need to either be recapitalized or sold which may cause a cooling effect on the sector in 2024. The industrial sector will also cool from peak performance levels, with pockets of softening rents in some markets. Both residential and industrial will benefit in time from the reduced levels of new development starts in 2023 and beyond.
• Select sub-sectors of retail such as US grocery-anchored properties are seeing a boost in investor confidence. Limited new supply and a better understanding of which assets are better positioned is creating confidence that these properties can be an accretive portion of a balanced real estate portfolio.
• The question around the future of office properties continues to be pervasive, and something investors are watching closely. The report observes a divide between Canadian and US office markets with Canada slightly better positioned than the US due to lease structures. The US continues to deal with substantial work-from-home headwinds. The report notes that widespread distress may lead to high-risk, high-reward opportunities for investors.

Rich Kleinman, Co-CIO and Head of Research & Strategy for the Americas at LaSalle, said, “Looking at real estate investment solely through the lens of interest rates means you’re missing the bigger picture as we believe sectors and markets will adjust to rates at varying speeds. Investors with dry powder, flexibility and who can identify price gaps are likely to come out as winners in this transitional market.”

Chris Langstaff, Head of Research & Strategy for Canada at LaSalle, said, “Looking to 2024, we expect that in the midst of a continued softening of the Canadian economy in the near term, the strong migration trends will support long-term growth of the Canadian economy. This will particularly benefit the apartment and industrial sectors when economic growth resumes.”

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 property 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. The firm 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.

Forward looking statement

The 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.

LONDON (29 November 2023) – Despite a challenging macroeconomic picture, European real estate has begun to acclimatise to higher interest rates and will offer some of the world’s most attractive supply-demand dynamics next year, according to the Insights, Strategy and Analysis (ISA) Outlook 2024 report published by global real estate investment manager LaSalle Investment Management (“LaSalle”).

Last year’s report predicted European macro headwinds and a stall in capital markets activity, but also strong real estate market fundamentals. Looking ahead, the 2024 ISA Outlook for Europe describes how investors that are ready to move out of waiting mode, with realistic expectations for operating income growth, can find compelling new investment opportunities.

This year’s report identifies five trends that differentiate Europe and earn the region’s real estate assets an important place in investors’ property portfolios:

• Europe’s city centre vibrancy and occupier demand have strongly rebounded
• The region’s firms and individuals are taking the lead in decarbonization
• Skilled migration is supporting growth
• Expansion of the EU’s single market is regaining traction
• The high prevalence of inflation-index commercial leases in the EU has helped the region’s property cash flows to better keep pace with inflation  

These trends are driving demand in particular for logistics and rental housing, as well as superior performance by offices in the ‘super-prime’ segment.

Macro challenges but appealing supply-demand dynamics

Having defied expectations of a recession in 2023, Europe still faces elevated recession risk. Inflation has begun to abate but proven comparatively stubborn, particularly in the UK, inducing higher policy rates from the ECB and Bank of England. As the delayed impact of rising rates begins to bite, European property markets enter 2024 searching for a clear peak in interest rates – as well as an end to the war in Ukraine.

Europe’s occupational fundamentals are coming off the boil of recent years, with rental growth set to cool to its lowest level since 2020 next year. However, we expect that average rent growth should remain positive, especially for logistics and rental housing – even in an economic downturn – helped by low vacancy rates relative to history.

In logistics, while demand has cooled across Europe and vacancy is ticking up from extremely low levels, a shrinking construction pipeline means that the long-term revenue growth outlook remains very bright. The scope for further e-commerce market penetration is, conversely, a headwind for European retail. However, assets such as outlet centers with turnover-linked leases have lifted revenues in line with nominal sales growth.

Investors in Europe can access strategies rooted in barriers to supply, arising from Europe’s high (and rising) constraints on development. Nowhere does this apply more than in the residential sector, where the undersupply is chronic, while migration powers long-term demand growth. Surging student demand and rising mortgage rates are causing people to rent for longer and until later in life, boosting demand further in Purpose-Built Student Accommodation and rental housing specifically.

Opportunities on the leading edge of offices

European city centers are returning to their pre-Covid levels of vibrancy, attracting office occupiers and capital to more central locations. To better understand how this spectrum of office quality is evolving, we recommend going beyond ‘bifurcation’ alone in segmenting the market. The widening gaps between leading and lagging offices are determined by a range of many factors like location, design, amenities and sustainability.

In London, “super-prime” office buildings command significant rent premiums to “prime” averages. Since 2019, the UK capital’s median office relocation was from a non-BREEAM-rated EPC-D building to BREEAM Excellent / EPC-B or better. Across Paris and London, new offices’ vacancy rate is c.2%, three times less than for second-hand offices. Notably, centrally located, modern offices in Paris and Munich have defied subdued transaction levels and remain liquid, with sales attracting respectable bidder pools.

Alternative lenders gain momentum

Outside of these pockets of investment activity, alternative lenders are well positioned to solve capital stack equations in 2024, filling gaps created by  banks’ reduction in LTVs to provide debt financing that generates attractive risk-adjusted returns.

Dan Mahoney, Head of European Research and Strategy at LaSalle, said: “What we are seeing in Europe is real estate markets beginning to acclimatise to the higher-rate environment and gradually shift out of the waiting mode that has chilled transaction volumes in 2023. The continent’s distinct combination of rebounding city vibrancy, high supply barriers and compelling conditions for debt make it an important allocation in global real estate portfolios.”

Brian Klinksiek, Global Head of Research and Strategy at LaSalle, added: “Significant unknowns remain in the global real estate market as we head into 2024, including interest rates, geopolitical tensions, and whether major economies may tip into recession. While it’s very difficult to time markets, data on previous down cycles suggest that it’s often during unsettled periods that savvy investors can find strong value in real estate, making this a potentially strong vintage for investment.”

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $78 billion of assets in private and public real estate property and debt investments as of Q1 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 (November 16, 2023) — LaSalle announced today that a fund it manages (the “fund”), in a joint venture with TE Capital Partners (“TEC”), has executed a Put and Call Option Agreement (“PCOA”) to acquire a 11-storey Grade A office building at 103 Penang Road, Singapore 238467, also known as VisionCrest Commercial (the “asset”). The joint venture is operated by a subsidiary of TEC.

Part of VisionCrest, a mixed-use development that also comprises a gazetted national monument, the House of Tan Yeok Nee, as well as four residential blocks with 265 units in total, the asset includes retail space on the ground floor.

The freehold, high-spec, LEED Gold certified asset, which has a strata area of 154,711 square feet, is centrally located in Singapore’s prime Orchard Road precinct, with excellent connectivity including a 5-minute walk to Dhoby Ghaut Mass Rapid Transit (MRT) Station, which is served by three major train lines (North-South, North-East and Circle Lines). Not only does the asset enjoy immediate access to abundant retail, dining, entertainment and accommodation options at its doorstep, it is also expected to benefit from the Urban Redevelopment Authority’s plan to rejuvenate the Orchard Road precinct to strengthen its position as one of Asia’s most sought after retail and commercial corridors.

The asset offers a strong cash flow profile, with an occupancy rate of 99% that is backed by a diverse roster of multinational tenants including Manulife Financial Advisers, Puma Sports SEA Trading and The Coffee Bean & Tea Leaf.

As the second project by the joint venture between TEC and the fund, this transaction reflects the managers’ confidence in the stability and resilience of Singapore’s office sector, as well as its potential for mid- to long-term capital value growth and preservation.

George Goh, Head of Acquisitions and Asset Management, Southeast Asia, LaSalle Investment Management said, “We are pleased to extend the strong and fruitful partnership we’ve had with TEC. This asset is a very rare freehold offering in a well-performing market, with potential for value-add and growth.”

Claire Tang, Co-CIO Asia Pacific, LaSalle Investment Management said, “This asset is a strategic addition to the fund’s portfolio as we respond to the continued interest of global institutional investors and private investors in the Singapore’s office sector, buoyed by sustained occupier demand in this market.”

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 $78 billion of assets in private and public real estate property and debt investments as of Q1 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.

London (November 7, 2023) – Related Argent and joint venture partner Invesco Real Estate have appointed the main contractor and secured the debt finance for the development of Brent Cross Town’s second Build-to-Rent (BtR) building, enabling construction of 286 new homes. Galliford Try will deliver the homes and over 17,000 square feet of amenity and retail space, while the £97 million debt financing is provided by LaSalle Investment Management, further building on the significant momentum at the £8 billion net zero park town in London.

The debt financing takes the form of a Green Loan, lending dedicated to sustainable projects, which is linked to the strong environmental credentials of the building. The building is designed to be supplied with very low carbon heating and cooling from the development’s electric district heating and cooling network, which is being delivered in partnership with Vattenfall. In addition, the building aims to deliver a measurable net gain in biodiversity and to minimise construction waste and embodied carbon through efficient off-site manufacturing. LaSalle Debt Investments’ green loan structures are compliant with the Loan Market Association’s green loan framework. The overall Brent Cross Town development is committed to reaching net zero by 2030.

The announcement demonstrates the significant progress being made at Brent Cross Town. Six buildings are now underway, the first of which will be completed from the end of 2024. In total, over 930 homes, including affordable, market sale and BtR homes are on-site along with 662 student rooms in partnership with Fusion Students. Sheffield Hallam University will open its first satellite campus outside of Yorkshire at Brent Cross Town, and a joint venture between Audley Group and Senior Living Investment Partners (Octopus Real Estate and Pension Investment Corporation) will create a retirement village with around 150 homes.

Brent Cross Town is being delivered in partnership between Related Argent and Barnet Council and will create a total of 6,700 new homes, 3 million square feet of offices, a high street and schools surrounded by 50 acres of parks and playing fields including the new 4.5-acre Claremont Park which was completed last year. The new town will benefit from Brent Cross West station, which will be the first major new mainline station in London in more than a decade when it opens later this year, connecting with King’s Cross St Pancras in as little as 12 minutes.

The new contractor appointment and financing is part of the joint venture between Related Argent and Invesco Real Estate, the global real estate investment manager, formed at the end of 2022 to deliver £600 million of Gross Development Value, including over 800 homes as well as retail by 2025.

Galliford Try, one of the UK’s leading construction groups, is already delivering the first BtR building at Brent Cross Town. Its appointment by the Related Argent and Invesco Real Estate joint venture to deliver the second BtR building comprising 286 homes, a mix of market and discount market rent homes, will bring the total number of BtR homes under construction at Brent Cross Town to 535.

All will be developed and managed by Related Argent, which has just opened a brand-new premium rental development, Author King’s Cross on the King’s Cross estate. Related Argent’s BtR portfolio draws on the established record of Related Companies, which has over 71,000 homes across the United States. Known for its outstanding customer service, Related Companies has decades of proven experience in the sector.

The 286 new homes are designed by Allies & Morrison, with interiors by Conran and Partners, and range from studio to three-bedroom apartments, with block amenities shared with the first BtR building at Brent Cross Town, including a large central lobby with 24-hour concierge, wellness hub, including a gym, fitness studios, 25 meter pool and sauna, work from home spaces, private dining spaces, roof top terraces, podium gardens, guest suites and a cinema.

Tom Goodall, Managing Director of Related Argent, said: “There is strong momentum behind our BtR portfolio with our first rental homes now completed at Author King’s Cross and over 1,000 BtR homes under construction. Our joint venture with Invesco Real Estate at Brent Cross Town and the financing from LaSalle Investment Management is helping meet an increasing gap in the market and addressing the city’s growing demand for high-quality rental properties in vibrant places.”

John German, Managing Director, Residential Investments at Invesco Real Estate, said: “When Invesco and Related Argent closed our Joint Venture in October 2022, we only had one build contract and one loan in place. 12 months later, we now have secured all four build contracts and the necessary loan facilities to enable the project to move forward as we had planned. We are delighted that the Project Team achieved this key milestone which now allows the project to move forward into the delivery stage to enable these assets to be delivered into our investor’s existing BtR Portfolio of just under 1,100 units.”

Robert Fay, Director, Debt Investments at LaSalle Investment Management added: “We are very pleased to work with Related Argent and Invesco Real Estate to provide the debt financing for this project, which brings together market leaders in urban regeneration and best-in-class accommodation in a great location with strong transport links to Central London. The living sector is one of LaSalle’s highest convictions across our European lending and equity strategies. This financing is LaSalle’s 26th development loan made since 2012 and builds on our development lending track record, providing flexible, sustainable loans to high-quality sponsors.”

Bill Hocking, Chief Executive of Galliford Try, said: “We are delighted to be working once again with Related Argent on one of the most significant Build to Rent schemes in London. Our business has a strong track record in producing high-quality residential developments with the sector remaining a key focus for our Building business within our Sustainable Growth Strategy.”

Councillor Ross Houston, Deputy Leader of Barnet Council and Cabinet Member for Homes and Regeneration, said: “Barnet’s new park town has been carefully designed to meet the needs of our residents now and in the future with a range of options including social housing, private sale homes, student accommodation and homes built to rent. I welcome the progress being made on Brent Cross Town’s first new homes that are being built specifically with Barnet renters in mind.”

The BtR offering at Brent Cross Town forms a major part of Related Argent’s portfolio of over 3,000 rental homes alongside King’s Cross and Tottenham Hale. The first residents moved into its first BtR development, Author King’s Cross, in October 2023. Related Argent has plans to expand its rental portfolio beyond the 3,000 homes.

Ends

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $78 billion of assets in private and public real estate property and debt investments as of Q1 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.

About LaSalle Debt Investments
LaSalle Debt Investments is part of LaSalle’s growing $10bn Debt & Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit products – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

About Related Argent
In 2015, Argent and Related joined forces to create an unrivalled UK property business and urban regeneration specialist. The company brings together the expertise and track record of Argent – the developer behind some of Britain’s most successful mixed-use places, and Related – one of the most innovative and prolific real estate companies in the US. The combined experience delivering ground-breaking projects such as King’s Cross in London, Hudson Yards and Deutsche Bank Center in New York, Brindleyplace in Birmingham, The Square in West Palm Beach, Florida and The Grand LA in Los Angeles is brought to bear on each of the projects.

Related Argent operates across a range of property sectors including residential, workspace, education, shopping, hospitality and leisure. Its work goes beyond bricks and mortar development. It also specialises in the services, facilities and experiences that are so important to urban life – art, culture, events, schools, skills & training programmes and renewable energy networks.

Related Argent is one of the UK’s leading developer-owner-operators and, since its inception eight years ago, has rapidly grown a £9Bn+, 12m sq ft mixed-use development pipeline. This includes major regeneration projects in London, at Brent Cross Town and Tottenham Hale, as well as a Build-to-Rent (BtR) scheme at King’s Cross, known as ‘Author King’s Cross’. It’s accessing global capital markets to deliver major new projects across the UK and is seeking to expand its BtR housing portfolio. On 1 May 2024, Argent will transfer all employees, projects and assets to Related Argent Limited.

Related Argent’s vision is to be a great city builder – for people, planet, and prosperity and its purpose is to improve urban life for all, everyday. This means developing for the long term – astutely, sustainably and with a sense of social purpose. Related Argent is delivering the places, homes, workspace, public space, arts, culture, events and services that our UK cities and town centres need. www.argentllp.co.uk

About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with USD 91.1 billion in real estate assets under management, 586 employees and 21 regional offices across the U.S., Europe and Asia. Invesco Real Estate has a 40-year investment history and has been actively investing across the risk-return spectrum, from core to opportunistic, in equity and debt real estate strategies, and in direct and listed real estate for its c.500 institutional client relationships during this time. In Europe, Invesco Real Estate has eight offices in London, Munich, Milan, Madrid, Paris, Prague, Luxembourg and Warsaw, and 191 employees. It manages 200 assets across 14 European countries and with assets under management of USD 18 billion. Source: Invesco Real Estate as at 31 March 2023.

About Galliford Try
Galliford Try is a trading name of Galliford Try Holdings plc, a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.

About Brent Cross Town
Brent Cross Town is the neighbourhood at the heart of the Brent Cross Cricklewood regeneration programme. It is a joint venture between Related Argent and Barnet Council to develop a large-scale mixed-use development including new homes, retail and office space, as well as improved schools and greenspaces in the area. Early work started on site in early 2020 and construction is also underway on the new Brent Cross West station which is due to open later this year. Building on the strengths of this diverse part of the city, Brent Cross Town will draw inspiration from the best of London’s long-established neighbourhoods with all their complexity and character.

At its heart, will be a focus on sport, play, health and well-being. The new neighbourhood will provide 6,700 homes, state-of-the-art workspace for over 25,000 people, and pedestrian friendly streets and squares with local shops and restaurants that will complement the offer at Brent Cross Shopping Centre. The community will be supported by first-class public transport infrastructure, a new and improved network of walking and cycle routes and a series of new parks and other amenities. www.brentcrosstown.co.uk @brentcrosstown

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

CHICAGO, LONDON, SINGAPORE (Oct. 10, 2023) — LaSalle Investment Management (“LaSalle”) today announced that after 34 years of distinguished service and leadership of the firm’s global finance group, CFO Mike Ricketts will retire in Q2 2024. He will remain CFO through year-end 2023, and effective January 1, 2024, will be succeeded by Louis Bowers, current Global Head of Financial Planning & Analysis (FP&A) for JLL. Mike and Louis will work closely in the coming months to ensure continuity and a smooth transition of responsibilities.

LaSalle CEO Mark Gabbay said, “Mike’s contributions and leadership at the firm cannot be overstated. Beyond his technical expertise, transparency and consistent drive to improve the business, Mike’s respect for others and collegial nature helped establish LaSalle’s award-winning culture. He is one of a kind, and we wish him the best on his well-deserved retirement. We look forward to Louis joining LaSalle in this global leadership role, and the benefit of his experience and connection to the broader JLL business.”

Louis joined JLL in September 2014 and served as the Global Controller and Principal Accounting Officer from August 2015 until December 2021. During this period, he oversaw JLL’s accounting policies, external reporting, Sarbanes-Oxley compliance and adherence to applicable regulatory requirements. He also helped the organization navigate through many complex aspects of change, ranging from adopting new accounting standards to integrating significant M&A volume.

Since December 2021, Louis has been Global Head of FP&A, during which he has helped lead JLL’s efforts to pivot its reporting segments to global business lines and implement a new standardized cost allocation methodology. During this tenure, Louis has also been responsible for the company’s budgeting and forecasting processes, periodic financial reporting to senior leadership and the Board of Directors, and providing ongoing support for the company’s quarterly earnings. Prior to joining JLL, Louis served in various positions at Retail Properties of Americas, Inc, a multi-tenant retail REIT, as well as member of KPMG’s audit practice.

Louis Bowers, incoming LaSalle CFO said, “I am eager to join LaSalle in this important global finance role. I have enjoyed and admired working alongside Mike over the years, and look forward to working with the teams around the world to optimize our financial performance in the years ahead.”

Mike Ricketts, retiring LaSalle CFO said, “I am grateful for my time and experience working at LaSalle. The growth and prosperity of the firm is a result of our people, and Louis is the right leader to advance our finance segment in the next phase of growth. I look forward to working with him in the months ahead, and tracking the continued success of the firm in the future.”

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 $78 billion of assets in private and public real estate property and debt investments as of Q1 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 http://www.lasalle.com, and LinkedIn.

Forward looking statement

The 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.

London (September 25, 2023) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces that three of its office buildings in Central and Eastern Europe – two in Prague and one in Warsaw – have achieved Platinum WiredScore certification. These certifications, which recognise office buildings with best-in-class digital connectivity, demonstrate LaSalle’s commitment to providing its tenants with high-calibre and differentiated office spaces through its active asset management strategy.

River Garden II/III, located in one of Prague’s fastest-growing neighbourhoods, has already achieved an ‘Excellent’ BREEAM rating on account of its strong sustainability performance. Its tenants include NCR, Hill’s Pet Nutrition, Total and Philips. Palac Andel, also located in Prague, has already achieved a ‘Very Good’ BREEAM In-Use rating, boasts an outstanding urban location and is home to Toyota, Landis+Gyr and FertiCare among others. These two buildings mark the first Czech office buildings to receive WiredScore Platinum certificates, signifying their exceptional quality in wired infrastructure.

The third building to attain this certification is Wronia 31, in Warsaw. Located in the heart of the Polish capital, the building holds an ‘Outstanding’ BREEAM accreditation. Among its tenants are Frontex and BNP Paribas Security Services.

Beverley Kilbride, Chief Operating Officer, Europe at LaSalle, said: “With this accreditation, all of LaSalle’s office properties in the CEE region are now WiredScore Platinum-certified, offering best-in-class digitally-connected buildings to our tenants. As we witness the flight to quality within the European office market gather pace, with occupiers favouring state-of-the-art workspaces and shunning those that are dated or undifferentiated, these certifications underscore LaSalle’s strategy of providing market-leading properties with exceptional connectivity and full function of digital features.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $77 billion of assets in private and public real estate property and debt investments as of Q2 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.

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.

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.

TOKYO (July 31, 2023) — LaSalle Investment Management (“LaSalle”), in partnership with Tokyu Land Corporation and NIPPO Company, announces today the completion of Logiport Nagoya. With a total floor area of 354,744m² spread across four floors, Logiport Nagoya is the largest multi-tenant logistics facility in the Tokai region.

Located approximately 4.8km from Nagoya Station, one of Japan’s busiest train stations, and 2.2km from Nagoya Expressway Route 5 Manba Route, Logiport Nagoya enjoys excellent access to both the rail and expressway networks. In addition, it is a short 8-minute walk from Hatta Station on the Nagoya Municipal Subway Higashiyama Line, JR Kansai Main Line and Kintetsu Nagoya Line, making it highly convenient for regional commuters.

In terms of features, Logiport Nagoya is equipped with two rampways to access each floor. The facility has a floor load of 1.5t/m², an effective height of at least 5.5m and a column span of at least 10m, enabling it to respond flexibly to different tenant needs. A disaster prevention center that operates 24 hours a day, 365 days a year maintains the security of the building while a vibration control structure that is resistant to shaking during earthquakes and a 72-hour emergency power generator in case of power outages support business continuity for tenants.

The development and construction of Logiport Nagoya took into consideration environmental sustainability, featuring energy-saving LED lighting, an irrigation system that reuses rainwater and a plan to utilise the facility’s roof for solar power generation, among others. As a result of these efforts, Logiport Nagoya has received the highest rank of S (excellent) from the Comprehensive Evaluation System for Built Environment Efficiency (CASBEE) and the highest five-star rating from the Building Energy Efficiency Labeling System (BELS).

Built with a concept of “Logiport Town”, Logiport Nagoya seeks to make a positive impact on the community to which it belongs. An integrated plaza with landscaping, seating and a playground has been developed for the immediate benefit of the public. Meanwhile, Logiport Nagoya plans to collaborate with the city of Nagoya and the local community on disaster prevention and disaster response. In a nod to the site’s history when railway tracks used to enable direct cargo delivery to and from the nearby Hatta Station, architectural elements that recall railway siding have been incorporated into the design of sidewalks around the facility, which have also been widened.

Logiport Nagoya is 66% leased (approximately 192,000m²) at the time of its completion.

Mari Nagai, Head of Logistics at LaSalle Japan, said, “One of Logiport Nagoya’s strongest attributes is its excellent location close to Nagoya Station. This proximity is comparable to the distance from Tokyo Station to Roppongi or from Empire State Building to One World Trade Center. Combined with its scale and superior features, Logiport Nagoya is well positioned as an urban distribution center.”

Kunihiko Okumura, CEO of LaSalle Japan, said, “Logiport Nagoya is the largest logistics facility we have ever developed. Given the tenant demand for modern logistics solutions that are efficient and flexible, we expect the facility to be a game changer for the Nagoya logistics market.”

About LaSalle Investment Management  |  Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit 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.

London (5 July 2023) – LaSalle’s European COO Beverley Kilbride has been named to PEI’s 2023 list of Women of Influence in Private Markets. The list spotlights women whose achievements, innovation and leadership are reshaping private markets across a range of asset classes: real estate, private debt, private equity, infrastructure and venture capital.

The teams at PERE, Private Debt Investor, Private Equity International, Infrastructure Investor, and Venture Capital Journal faced a daunting task in selecting the honorees. With over 630 nominations, only 10 professionals globally are recognized in each category.

Read more about the impact Beverley has had on the real estate market, as well as the other nine professionals who join her on this esteemed list on PERE’s website (subscription required).

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 $79 billion of assets in private and public real estate property and debt investments as of Q3 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit www.lasalle.com, and LinkedIn.

CHICAGO, June 29, 2023 — LaSalle Investment Management (“LaSalle”) has completed a joint venture with UDR, Inc. (NYSE: UDR) to create a portfolio of core multifamily assets in key markets across the US. Under the terms of the agreement, UDR will contribute a seed portfolio of four assets into the joint venture and retain a 51 percent ownership position in the aggregate portfolio, while also acting as asset manager. 

The investment presents LaSalle a unique opportunity to partner with a best-in-class operator in a preferred sector with immediate and diversified scale in multifamily markets that are ranked highly by LaSalle’s global Research and Strategy group. The partnership capitalizes on the secular shift to product in high-barrier-to-entry markets in addition to attractive rent price points, strong operating history, and long-term expected NOI growth. 

Mark Gabbay, Global CEO of LaSalle, said:  “We are pleased to have sourced a high-quality investment for our limited partner, alongside a best-in-class sponsor and operator in UDR. The US multifamily market has remained one of the top-performing and most resilient asset classes in recent years, and we look forward to expanding this portfolio with UDR in the years ahead.” 

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 $78 billion of assets in private and public real estate property and debt investments as of Q1 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. 

About UDR, Inc.  

UDR, Inc. (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S. markets. As of March 31, 2023, UDR owned or had an ownership position in 58,411 apartment homes including 415 homes under development. For over 51 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates.  

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 (June 7, 2023) — LaSalle Investment Management (“LaSalle”), on behalf of its Korea logistics investment joint venture with a Middle Eastern sovereign wealth fund, announced today the acquisition of two logistics facilities in Bubal District, Icheon, South Korea. The two warehouses, built between 2021 and 2022, have a combined gross floor area (GFA) of 16,346 pyung. They have an existing occupancy rate of approximately 65% and are anchor tenanted by one of the largest third-party logistics (3PL) companies in South Korea under a long-term lease.

The warehouses are strategically located in the Icheon sub-market within Greater Seoul to offer occupiers with access and connectivity to South Korea’s dense and online connected consumers. An established industrial sub-market in South Korea, the southeast area where Icheon is located has the largest Grade-A logistics stock in Greater Seoul.

This transaction follows an opportunistic high-yield loan that LaSalle, on behalf of the LaSalle Asia Opportunity Fund VI (LAO VI) closed earlier this year. The collateralized loan financed the acquisition of a land site valued at KRW116.0 billion which obtained entitlements to develop a 10-storey office building with GFA of 6,480 pyung in the Seongsu district of Seoul. The project is expected to break-ground this year. The borrower has an established track-record of developing, leasing, and selling similar investments and this will be their 4th office project specifically in the Seongsu district.

The Seoul office market has demonstrated relative strong fundamentals to date as a departure from prevailing trends in other metropolitan cities globally which are pivoting towards some form of work-from-home. According to JLL Korea, the average office vacancy rate across Seoul was 1.1% as of Q1 2023.

Steve Hyung Kim, Senior Managing Director and Head of Korea for LaSalle, commented: “We are finding attractive risk-adjusted entry points into deals whether investing through equity or through debt, while still targeting the property sectors and locations we maintain conviction on. Widened credit spreads have allowed us to execute high-yield secured debt financings on behalf of our opportunistic strategy; and in the logistics sector near to mid-term with the new supply headwinds, we will also selectively invest in recapitalization situations as the market de-levers from vintage loans maturing against unstabilized projects.”

About LaSalle Investment Management  |  Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit www.lasalle.com and LinkedIn.

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

Chicago (June 6, 2023) – JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $7 billion in portfolio assets, today announced it has attracted more than $1 billion through JLL Exchange (“JLLX”), its 1031 like kind real estate exchange program..

The JLLX platform is a sophisticated tax deferral and estate planning tool that utilizes both a traditional 1031 exchange along with a potential 721 UPREIT exchange. The JLLX program provides institutional quality properties through its unique Delaware Statutory Trust (“DST”) structure, where owners of appreciated investment real estate can conduct a 1031 exchange by reinvesting proceeds from the sale of their real estate to acquire interests in the DST. After a required holding period, DST properties may be reacquired in exchange for interests in JLL Income Property Trust’s UPREIT structure through a 721 exchange.

JLL Exchange provides investors the opportunity to reinvest proceeds from their sale of real estate held for investment into a broadly diversified, institutionally managed, perpetual NAV REIT, while also deferring taxes, maintaining their allocation to real estate and enjoying a wide range of estate planning benefits. JLL Income Property Trust benefits by attracting strategically aligned long-term investors through the 1031 exchange market.

Since its inception in 2020, JLLX has provided investors with more than $1 billion of DST interests through 18 distinct 1031 exchange offerings ranging from single property DSTs to diversified, multi-property portfolios. JLL Income Property Trust has also completed 6 full-cycle 721 UPREIT transactions totaling nearly $470 million. In a full-cycle UPREIT, real estate is exchanged on a tax-deferred basis for partnership interests in JLL Income Property Trust, offering the potential for owners of the exchanged property to achieve meaningful diversification, current income and the opportunity to realize long-term appreciation.

“We are extremely pleased by the market’s strong, sustained response to the JLLX platform,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Financial advisors have recognized the compelling potential tax and estate planning benefits from the JLLX offerings, and view it as a way to provide more holistic financial planning for their high net worth property owner clients.”

“By offering higher-quality, institutional, DST solutions, competitive fees and institutional management, JLLX has established itself as a preferred 1031 exchange solution for high net worth and ultra-high net worth investors,” said Drew Dornbusch, Head of JLL Exchange.

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

About JLL Exchange
The JLL Exchange program offers private placements through the sale of interests in Delaware Statutory Trusts (DSTs) holding real properties. For more information, visit www.jllexchange.com.

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

JLL 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. 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, LaSalle manages approximately $78 billion of assets in private and public real estate property and debt investments as of Q1 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 https://www.lasalle.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.

Andrew Jeanes, who worked for LaSalle for almost 38 years, sadly passed away in October 2021.

For those people within the industry who came across Andy, none would have forgotten their experience in a hurry. He didn’t suffer fools lightly, and could often be perceived as donning a bear mask. It truly was just a mask, behind which was a man with a huge heart. He held in high esteem individuals at the cutting edge of their expertise within the property industry and those who provided sound advice to Andy and his clients.

LaSalle is hosting a walk through London on Thursday, July 13 from 2:00 p.m. and would welcome any of Andy’s friends or ex-colleagues to join us. In his memory, we aim to raise money for the Oxford Hospitals Charity, specifically the Oncology Ward Fund, as chosen by his children.

Given Andy liked to discuss thorny property issues over a glass of red wine, it’s only fitting that the walk should include a couple of his old haunts. We start from Davy’s at Plantation Place in The City and finish at Davy’s at St James, Crown Passage, Pall Mall. Frankly that’s the only type of walk Andy would have signed up to!

If you would like to take part in the walk, please register below. A suggested minimum donation of £20 upon registration can be made via our JustGiving page.

London (10 May 2023) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces the provision of a fixed-rate green loan facility of £130m to finance Greystar’s acquisition and development of a 770-bed student housing asset in Wembley Park, London.

The loan was provided through LaSalle Debt Investments – one of Europe’s leading alternative real estate lending platforms, established in 2010.

The project is situated within the highly sought-after Wembley regeneration area, an established neighbourhood benefiting from diverse local amenities and facilities. The project benefits from excellent transportation links and is a five-minute walk to Wembley Park station, providing easy access to Central London. It is also well connected to a range of London’s leading universities, such as King’s College London and the London School of Economics.

The green loan will partially fund the construction of the 770-bed asset which is scheduled to complete in the summer of 2025. The development will comprise 20 storeys with 12,000 sq ft of amenities, including a co-working space, external courtyards and gardens, a gym and bike storage. The development has been designed with state-of-the-art sustainability credentials in mind, aiming to achieve a BREEAM rating of “Excellent” and targeting a ‘Two Star’ Fitwell accreditation.

LaSalle Debt Investments credit strategies include senior loans, whole loans, mezzanine, and development finance. It forms part of LaSalle’s pan-European Debt & Value-Add Strategies platform, which provides debt and equity capital solutions across European markets and sectors.

Ben Mowbray, Senior Director – Investment, Greystar, said: “LaSalle’s green loan facility will help us deliver a substantial, but most importantly sustainable student accommodation asset in Wembley. We are committed to ensuring our assets provide a home away from home for students in a time of unprecedented demand without compromising the environment.”

Robert Fay, Director, Debt Investments, LaSalle, said: “We look forward to helping Greystar deliver a best-in-class student product with strong sustainability credentials. This loan represents LaSalle’s fourteenth loan facility secured against student accommodation, a sector we have strong conviction in across our wider European business.”

Fiammetta Granchi, Vice President, Debt Investments, LaSalle, added: “This facility with Greystar is fixed rate and does not require syndication, providing enhanced stability to the borrower. The loan was structured as a green loan, compliant with the Loan Market Association’s green loan framework and Green Loan Principles. As the drive towards superior environmental performance accelerates, we are committed to supporting our borrowers to deliver high-quality, sustainable accommodation.”

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 $79 billion of assets in private and public real estate property and debt investments as of Q3 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit www.lasalle.com, and LinkedIn.

About LaSalle Debt Investments
LaSalle Debt Investments is part of LaSalle’s growing $10bn Debt & Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit products – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates more than $250 billion of real estate in 234 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 817,000 units/beds globally, and has a robust institutional investment management platform comprised of more than $69 billion of assets under management, including over $29 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

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

Chicago (April 25, 2023) – JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $7 billion in portfolio assets, announced today the acquisition of Louisville Logistics Center, a one-million-square-foot, newly constructed Class A industrial property strategically located in the top-tier industrial submarket of South Louisville, Kentucky. The purchase price was approximately $82 million.

Louisville Logistics Center is leased through 2032 to a nationally recognized, global transportation and logistics company with more than $100 billion in annual revenues and with an S&P “A” credit rating. The lease contains 2% annual rent escalations, along with two 10-year renewal options.

Constructed in 2022, the Louisville Logistics Center is a state-of-the-art, cross dock distribution center featuring 40-foot clear heights. The tenant has invested significant capital into equipment and technology specifically customized for their operations in the property. Louisville is also home to major air and ground distribution hubs for UPS. UPS’s investment and success in the market has made Louisville one of the more desirable and proven logistics locations in the central United States.

“Louisville’s central geographic location, irreplaceable transportation infrastructure, and strong interstate highway access make it a desirable and strategic location for both regional and national logistics,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “The property’s new construction, significant improvements by the tenant, and a 10-year lease to an investment-grade Fortune 100 company, make this an attractive addition to our carefully constructed warehouse portfolio. Further, pricing on this quality of property is nearly 150 basis points improved over market pricing eighteen months ago. For investors like us with access to capital, these market conditions should present some exceptional investing opportunities.”

Louisville’s central location at the confluence of major highways allows distribution to over half the US 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 also within 20 miles of major distribution hubs including UPS Worldport (Air Distribution Hub), UPS Centennial Hub (Ground Distribution Hub), and the Louisville International Airport.

This investment brings JLL Income Property Trust’s aggregate industrial allocation to nearly $2.2 billion, or 32 percent of the portfolio, across 59 properties in 13 targeted warehouse markets.

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

About JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX)
JLL 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. 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, LaSalle manages approximately $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit www.lasalle.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.

Chicago (April 19, 2023) – LaSalle Investment Management (“LaSalle”) announced it has earned BREEAM certifications for 26 of its US properties. Seventeen industrial and 9 retail properties totaling more than 10 million square feet earned certifications, further highlighting LaSalle’s commitment to achieving sustainability goals across its portfolio.

BREEAM is a leading global sustainability assessment platform developed by BRE, a 100-year-old building science center developing science-led solutions to built environment challenges. BREEAM stands out among sustainability assessments given its uniquely holistic approach to evaluation — which goes beyond environmental factors, considering sustainable attributes such as resilience and health and well-being.

Elena Alschuler, LaSalle Head of Americas Sustainability, said: “To meet our net zero carbon goals, and ensure we’re on track to construct a portfolio that will stand the test of time and continue to be attractive to buyers and tenants, implementing sustainability best practices across a variety of assets will continue to be critical. We’re very proud to have achieved BREEAM certifications on 26 properties, and look forward to growing that number in the future.”

Added Breana Wheeler, US Director of Operations at BRE: “As the threat of climate risks poses an ever-increasing risk for the commercial real estate sector — and vice versa — we are thrilled to work with an industry leader like LaSalle to help set a standard for achieving meaningful sustainability goals. With over two dozen BREEAM-certified properties, LaSalle continues to demonstrate a strategic, portfolio-wide approach to meet the rising industry demand for improved ESG performance that aligns perfectly with BREEAM’s science-driven methodology, and we look forward to a continued partnership focused on thoughtful sustainable growth across the U.S. and beyond.” 

The 26 BREEAM certifications add to LaSalle’s continued recognition by credible third-party sources, including the recent WELL Health-Safety certification of more than 190 properties in North America and Asia Pacific, and LEED certifications for several of its US and Canadian properties. To find out more about LaSalle’s sustainability efforts, read LaSalle’s recently published Sustainability in Focus.

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 $82 billion of assets in private and public real estate property and debt investments as of Q2 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit lasalle.com,or LinkedIn.

Forward looking statement

The 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.

LONDON (11 April 2023) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces that LaSalle Debt Investments, one of Europe’s largest alternative real estate lending platforms, has expanded its senior-secured debt strategies to include a dedicated sustainable lending focus. In the last year, the platform has provided over €350 million of green loans across Europe.

LaSalle Debt Investments has grown its capacity to support borrowers in retrofitting existing assets to improve their energy performance and fund the construction of the next generation of energy-efficient buildings across the UK and continental Europe.

Recent green loan activity includes a £148m senior facility to support the construction of a PBSA scheme in central London, a £115m development facility to support a multi-asset regional UK PBSA portfolio, and a €40m mezzanine facility to support the retrofit of a Berlin office asset.

LaSalle was recently recognised as ‘ESG Firm of the Year’ in the 2022 PERE Awards, acknowledging the combination of strategic hires, initiatives and deals that embed sustainability as a critical pillar of the firm’s long-term corporate strategy and overall investment philosophy.

Richard Craddock, Managing Director, leading LaSalle’s senior-secured debt strategies, said: “As the drive towards Net Zero Carbon accelerates, we continue to support our European borrowers to deliver high-quality, sustainable accommodation across sectors. Demand for loans to finance green refurbishments and the construction of energy-efficient developments will likely increase as the need to decarbonise gathers further momentum. By adding a dedicated green loan focus to our existing senior-secured strategies, LaSalle is able to provide a crucial source of capital to help reduce European real estate’s carbon footprint.”

LaSalle’s green loan structures are compliant with the Loan Market Association’s green loan framework.

LaSalle Debt Investments has over €1.5bn lending capacity in Europe across its credit strategies, which include senior loans, whole loans, mezzanine, and development finance. It forms part of LaSalle’s pan-European Debt & Value-Add Strategies division, which provides debt and equity capital solutions across European markets and sectors.

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 $79 billion of assets in private and public real estate property and debt investments as of Q3 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit 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 LaSalle Debt Investments

LaSalle Debt Investments is part of LaSalle’s growing $10bn Debt & Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit products – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.

CHICAGO (April 10, 2023) – LaSalle Investment Management (“LaSalle”) is proud to announce that it has received the 2022 ENERGY STAR® Partner of the Year Award – Sustained Excellence from the U.S. Environmental Protection Agency and the U.S. Department of Energy for the fifth consecutive year.

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

Elena Alschuler, LaSalle Americas Head of Sustainability, said: “Earning the ENERGY STAR Partner of the Year award for five consecutive years is a testament to LaSalle’s commitment, at every level, to sustainability throughout our portfolio. Through a standardized approach to data, including using ENERGY STAR Portfolio Manager to assess the efficiency of our properties on an ongoing basis, we have been able to achieve significant momentum and results in our sustainability and energy saving efforts.”

EPA Administrator Michael S. Regan said: “As we accelerate historic efforts to address climate change, public-private partnerships will be essential to realizing the scale of our ambition. I applaud this year’s ENERGY STAR award winners for working with EPA to deliver a clean energy future that saves American consumers and businesses money and creates jobs.”

To celebrate the 30th Anniversary of ENERGY STAR, EPA offered special one-time recognition to all organizations who certified five or more buildings in 2022. Through this effort LaSalle achieved ENERGY STAR Certification across 37 buildings earning recognition as a Certification National Premier Member.

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

• LaSalle achieved four 5-Star, eight 4-Star and six 3-Star GRESB Ratings across 18 submissions
• 193 WELL Health-Safety Ratings across Americas and Asia Pacific portfolio
• P&I Best Places to Work in Money Management (seventh year in a row)

About LaSalle Investment Management | Investing today. For tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit https://www.lasalle.com, and LinkedIn.

About ENERGY STAR

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

Forward looking statement

The 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 (April 4, 2023) — LaSalle Investment Management announced that it has been named to The Korea Economic Daily’s (KED) list of Best Asset Managers for Operational Excellence in the Real Estate Large Cap category. This was the first time LaSalle was included in the list.

KED, a top-tier business news media, conducts an annual survey of Korean limited partners (LPs), including pensions, sovereign wealth funds, mutual funds, insurance companies and major banks, to recognize the top general partners (GPs) in Korea. Firms are awarded along three criteria – Performance, Operational Excellence and Client Service – across five asset classes of private equity, private debt, real estate, infrastructure, and hedge funds.

The Operational Excellence award recognizes a GP for outstanding risk management, communication and key person employment.

Steve Hyung Kim, Head of LaSalle Korea, said: “We greatly appreciate the partnership and support of our clients and investors and are honored by this recognition.”

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit 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.