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

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

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

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

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

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

About sustainability at LaSalle

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

About ENERGY STAR

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

About LaSalle Investment Management 

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

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

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

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

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

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

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

About LaSalle Investment Management 

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

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

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

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

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

Read more about this award on JLL.com

SINGAPORE (April 25, 2022) — LaSalle Investment Management (“LaSalle”) is pleased to announce it has earned the WELL Health-Safety Rating on 41 logistics and commercial properties in Asia Pacific through the International WELL Building Institute (“IWBI”). They include 8 properties in Australia, 16 properties in China, 16 properties in Japan and one property in Singapore.

The WELL Health-Safety Rating is an evidence-based, third-party verified rating for all new and existing building and space types focusing on operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment now and into the future. Designed to empower owners and operators across large and small businesses alike to take the necessary steps in order to prioritize the health and safety of their staff, visitors and stakeholders, the WELL Health-Safety Rating can help guide users in preparing their spaces for re-entry in the wake of the COVID-19 pandemic, instilling confidence in those who come through the building as well as the broader community.

Keith Fujii, LaSalle Head of Asia Pacific, said: “By embracing the WELL Health-Safety standard across our Asia Pacific portfolios, we are taking a further step to create a safe and considerate environment for our tenants and their customers. This achievement reiterates LaSalle’s commitment to investing in and managing assets that have a truly positive impact on public health and safety.”

Tom Miller, LaSalle Head of Development and Sustainability, Asia Pacific, added: “We are looking forward to working with IWBI to extend this certification program to many more of LaSalle’s assets in Asia Pacific in the future.”

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

About LaSalle Investment Management 

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) announced that 1652 and 1672 Tricont, two Class A logistics properties  in its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), earned the prestigious LEED® Silver certifications through the Canada Green Building Council. LEED is recognized globally as an indicator of sustainability achievement and leadership. To achieve LEED Silver, buildings must receive a high score in key areas that measure environmental impact.

Located in Whitby, Ontario in Toronto’s GTA East submarket, 1652 and 1672 Tricont Avenue comprise over 370,000 square feet. The buildings were newly constructed in 2020 and boast 32-foot clear heights, ESFR sprinklers, LED lighting and electric vehicle charging stations. The buildings are fully leased on a long-term basis to credit quality tenants.   

Sam Barbieri, SVP, Portfolio Management and Deputy Fund Manager, LCPF, said: “We’re thrilled that 1652 and 1672 Tricont have earned LEED Silver certifications. These properties were designed with LEED specifications in mind which, along with an exceptional tenant roster and location, was a large reason we acquired them. LaSalle Canada Property Fund continues to be an industry leader in sustainability, we look to continue this momentum through further LEED certifications in our portfolio.”

Elena Alschuler, Americas Head of Sustainability, added: “We remain highly committed to using our asset management practices around the world to achieve leadership in sustainability while prioritizing optimum investment performance.  LEED certification plays an important role in achieving both of these goals at these properties – by reducing our environmental impact and ensuring the buildings remain attractive to tenants and investors into the future.”

The LEED certifications earned by 1652 and 1672 Tricont add to LCPF’s achievements as a leader in sustainability. In 2021, 275 Slater, a 54-year-old office property in downtown Ottawa, earned the LEED Platinum certification, the highest LEED achievement. LCPF has also earned Five Stars, the highest rating, from the Global Real Estate Sustainability Benchmark for two consecutive years, making it the only open-end core fund in Canada to do so.

About LaSalle in Canada

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

About Canada Green Building Council

CaGBC (www.cagbc.org) is the leading national organization dedicated to advancing green building, building retrofit, and sustainable community development practices. CaGBC works with industry and all levels of government to make every building greener and healthier for occupants, while reducing carbon emissions and environmental impacts. CaGBC sets and verifies advanced green building standards, conducts government advocacy and market research, and provides education and training that has reached over 45,000 Canadian professionals since 2002. In 2004, CaGBC established the LEED® green building rating system in Canada and developed the first Zero Carbon Building Standard in 2017.

About LaSalle Investment Management 

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

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

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired a logistics campus in Venlo, the Netherlands, on behalf of Encore+, the firm’s flagship continental European open-ended fund.

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

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

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

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

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

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. 

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

About the International Well Building Institute

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About LIV Development

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

About LaSalle Investment Management

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

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

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

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

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

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

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

Continuation of Strong LaSalle Canada Performance

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

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

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

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

About LaSalle in Canada

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. 

Valuations, Forward Looking Statements and Future Results

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

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

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

Strong returns and value growth in the second half of 2021, buoyed by outperformance by the industrial and multifamily sectors, are giving real estate strong momentum heading into 2022. The value of U.S. and Canadian real estate relative to other asset classes is leading to strong capital flows and in turn is driving up prices. LaSalle’s 2022 Investment Strategy Annual (ISA) also speaks to the surprises of 2021 like lingering inflation and sector laggards that are still on investors’ minds.

LaSalle clients can view the full report at: www.lasalle.com/isa

As the 2021 ISA forecasted, low borrowing costs, a strengthening economy, increasing vaccinations and rolling re-openings have boosted investor demand for U.S. and Canadian real estate. The outlook for 2022 remains positive, though the report notes that investors should continue to be nuanced in their approach to avoid potential potholes.

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “Real estate has shifted from capital-starved to capital-rich several times already in this century. The most recent supply of capital has more than kept pace with the rebound in deal flow. This creates challenges for the deployment of fresh money, even as it boosts the performance of assets already in a portfolio.

“Additionally, more is being asked of real estate in several different directions all at once. Sustainability criteria and rising tenant expectations are among the “asks” that investors must respond to. This raises the bar for putting societal and environmental goals alongside traditional financial targets when investing in real estate”.”

Select 2022 ISA findings for North America include:

• The biggest economic surprise in 2021 was the return of inflation which has been more persistent than expected and has had a direct effect on several aspects of real estate, including development. However, the 2022 ISA presents a base case of moderate inflation moving forward, which may have more muted effects on the industry.
• The role Net Asset Valued (NAV) REITs are playing in bringing new capital to the real estate market. Fueled by high-net-worth investors both in the U.S. and abroad who are looking for core real estate with long-term cash yields, these vehicles fared particularly well in 2021 with upwards of $25 billion in equity raised, bringing more than $50 billion with leverage of new buying power to the real estate market. The 2022 ISA looks at whether this trend will continue next year.
• Sustainability is continuing to emerge as an investment imperative. For North American real estate investors, sustainability considerations present a set of new investment strategy questions stemming from market and regulatory diversity. For the U.S. and Canada, there is the question of how climate change will affect different regions and markets and how much that will impact relative market investment performance.
• The 2022 ISA presents a prediction that the apartment and industrial sectors continue to outperform. The report notes that, despite insatiable demand (particularly within industrial), new supply has not been able to keep up and rental growth looks positive over the next several years. On the other hand, office remains a question mark with a large bid-ask gap that will ultimately need to be corrected but may take some time depending on workers’ return dates, how tenants will use space and whether they will need as much space moving forward. Likewise, retail continued to struggle despite pent up consumer demand and savings, though grocery-anchored retail is again attracting investor interest.
• The 2022 ISA shows that while gateway cities may have been negatively impacted during the worst of the lockdowns, apartment demand is on the upswing. However, investors may find better relative value in secondary markets where population in-flows have been the strongest and the cost of living is significantly less than major gateway cities.
• The investment universe for real estate continues to expand, with Canadian and U.S, investors alike considering a variety of specialty sectors like medical office, single-family rental, data centers and self-storage. Single-family has drawn particular attention as Millennials look to start families and age out of urban centers, a trend which may have been accelerated by the pandemic.

Rich Kleinman, Americas Co-CIO and Head of U.S. Research & Strategy at LaSalle, said, “The outset of 2021 presented numerous challenges and with unclear outcomes, but what has become clear is the resiliency of real estate. Looking ahead to 2022, investors who understand the nuance of sector selection, in-sector differentiation and the interplay between a continued economic recovery and real estate values should find success in real estate as 2021’s momentum continues. Robust transaction activity in the second half of 2021 has cleared up pricing for some sectors, and that should continue into 2022.”

Chris Langstaff, Head of Research and Strategy for Canada at LaSalle, said, “A renewed government focus on increasing immigration, continued rollout of vaccines and boosters, and an expansion of the investment universe all bode well for Canadian real estate investment in 2022. Fundamentals in the Canadian market are rebounding, making the country a strong investment option for 2022.”

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.

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) recently announced that it has appointed Simon Howard and Michael Stratton as co-heads of its Australian operations. Their appointments took effect earlier this month, with both reporting to Keith Fujii, Head of Asia Pacific, based in Tokyo.

Simon and Mike joined LaSalle in 2011 with the opening of the firm’s Sydney office. Prior to this appointment, Simon was head of asset management while Michael had been head of acquisitions. They each have over 25 years’ experience across a broad range of asset classes including office, retail, industrial, hotels, retirement villages and residential.

Despite the global pandemic, investment resilience across real estate sectors in the country remains strong, underpinning institutional investor’s appetite for investing in the market. This new structure will enable us to deliver investment strategies and seek new opportunities more effectively and will further strengthen our position in the country.

Keith Fujii, Head of Asia Pacific at LaSalle Investment Management, said: “We see strong interest from institutional investors to seek access and opportunities to invest in Australia and the new structure with Simon and Michael mandated is set to meet investors demands and develop and execute on a strategy to jointly grow our Australian platform. Their diverse set of experiences across industries and strong track record will continue to drive growth for our business in Australia.”

Simon Howard, Co-Head of Australia at LaSalle Investment Management, said: “We are well placed to take advantage of the transition underway in the Australian market as investors assess the opportunities that have opened up since the lockdowns have ended. With hybrid work practices now commonplace, and our commitment to the decarbonisation of the built environment, there is an increasing demand for us to provide incisive and coherent solutions for our investors, tenants and other stakeholders.”

Michael Stratton, Co-Head of Australia at LaSalle Investment Management, said: “ The recent refocussing of global and local investor preferences such as the keen interest evident in the logistics sector plays to the strength and calibre of our Australian executive team based in Sydney. We are committed to identifying and completing significant opportunities in all asset classes that provide attractive risk adjusted returns for investors.”

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) is pleased to announce it has earned the coveted designation of being a “Best Place to Work in Money Management” according to Pensions & Investments (P&I) for the sixth year in a row.

The annual survey and recognition program hosted by P&I is dedicated to identifying, measuring and recognizing the best employers in the money management industry.

Kristy Heuberger, LaSalle Americas Co-Head, said: “Our people strive for excellence in their work every day, but perhaps most importantly they strive for excellence in building an inclusive, enriching culture where people want to work. We’re extremely proud to carry on LaSalle’s continued success in being named a ‘Best Place to Work in Money Management’ and thank all of our people for their efforts in making this a truly wonderful place to work.”

Added Brad Gries, LaSalle Americas Co-Head: “We view our culture as an important asset to differentiate what makes LaSalle so special, and we’re excited to know that the focus we put on culture is once again being recognized by Pensions & Investments. Earning this award amid the uncertainty of the COVID-19 pandemic highlights the exceptional nature of LaSalle and our people, and we could not be prouder of this recognition.”

Pensions & Investments Executive Editor Julie Tatge said: “Now in its 10th year, P&I’s Best Places to Work in Money Management spotlights the unique ways that employers build healthy and thriving work cultures. This year was no different. The 100 firms profiled in our Dec. 13 issue grappled with myriad challenges posed by the pandemic and met them, helping ensure that their employees felt supported and able 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.

About Pensions & Investments

Pensions & Investments, owned by Crain Communications Inc., is the 49-year-old global news source of money management. 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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

JLL (NYSE: JLL) has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change. CDP runs the world’s environmental disclosure system to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests.

JLL was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data reported by the company through CDP’s 2021 climate change questionnaire.

JLL is one of a small number of high-performing companies out of nearly 12,000 that were scored. Through significant demonstrable action on climate, JLL is leading on corporate environmental ambition, action and transparency worldwide.

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

Read more about this award on JLL.com

London ranks as Europe’s leading city for projected real-estate occupier demand for the fifth year running in the latest annual edition of the newly named European Cities Growth Index (“ECGI”), published by LaSalle Investment Management (“LaSalle”), the global real estate investment manager. Post-pandemic Paris, however, has closed the gap with its main rival since the 2020 edition, thanks to persistently strong human capital in Paris combined with softening prospects in service sector employment in London.

Top-performing European cities, London and Paris included, showed strength and resilience during the recent downturn triggered by the pandemic, displaying stable scores on average. Other top-performing cities such as Stockholm (fourth), Luxembourg (fifth) and Munich (sixth) recorded scores close to their 2019 pre-pandemic equivalents. The recovery in Spanish cities such as Madrid (rising to third place in the rankings), Barcelona (seventh) and Seville (fourteenth) exceeded most cities in Europe.

By contrast, the lower-ranking cities are getting weaker on a relative basis. 49 of the 93 European cities tracked by LaSalle in the ECGI recorded a year-on-year decline in score in 2021 – the highest number of decreases since 2009. As a result, the polarisation between the best- and worst-performing cities is getting wider.

Brian Klinksiek, Head of European Research and Global Portfolio Strategies at LaSalle, said: “This latest edition of the ECGI underlines the resilience of the London and Paris city markets, which has seen these ‘Big Two’ dominate the rankings since their launch in 2000. This is a highly challenging macroeconomic environment, with the largest number of cities seeing a downgrade in their growth prospects since the global financial crisis. Despite this, and the impact of a harder Brexit deal than previously anticipated, both London and Paris remain distinguished by their high-calibre workforces, strong GDP and employment growth prospects and comparatively low levels of business risk.”

“While the pandemic upturned many longstanding assumptions about the function of different real estate property types, we remain convinced that the growth metrics tracked in the ECGI will continue to provide a valuable tool in identifying real estate markets with room for outperformance, allowing investors to optimise portfolio construction when considered alongside supply-side information and relative pricing. It’s exciting this year to see multiple Spanish cities emerging as potentially attractive investment destinations on account of their strong recovery from the pandemic.”

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, added: “This flagship piece of market research has been a crucial input for the investment process of LaSalle E-REGI over the last decade; on the back of this we have constructed a strong, diversified portfolio. This year’s theme of a widening polarisation between the best and worst performers post-pandemic is something that I have also seen on the ground across regions, micro-locations and individual assets. Our Fund’s focus will therefore remain on building portfolios with exposure to Europe’s most resilient city markets.”

The European Cities Growth Index has been renamed from the European Regional Economic Growth Index (“E-REGI”), the name under which LaSalle has previously published this annual research since 2000. The index identifies the European regions and cities with the best combination of growth prospects (in terms of GDP, service employment and human capital), current wealth and business environment. Together these can serve as a proxy for occupier demand and a framework for real estate portfolio construction. LaSalle continually refines its methodology and this year incorporated transparency around areas such as investment performance, regulatory landscape and sustainability into its assessment criteria.

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

LaSalle commits to support investing aligned with net zero emissions by 2050 or sooner.

LaSalle Investment Management (“LaSalle”) today announced that it has joined 220 of the world’s leading asset managers as part of the Net Zero Asset Managers (“NZAM”) initiative, committing to support the goal of net zero greenhouse gas (“GHG”) emissions by 2050 or sooner, in line with international efforts to limit global warming to 1.5°C.

The announcement is part of a bigger step forward made at COP26 in Glasgow to tackle climate change. It echoes with the UN Principles of Responsible Investment to which LaSalle became a signatory over 10 years ago. The role of buildings and construction will be critical in meeting the net zero target, because together they are the single biggest energy user globally, consuming 40% of the total through operations and construction.⁽¹⁾

Joining the NZAM initiative reflects LaSalle’s growing involvement in carbon emission reduction issues. Last year, LaSalle announced its commitment to the Urban Land Institute’s Greenprint Center for Building Performance Net Zero Carbon Goal to reduce landlord-controlled operational carbon emissions to net zero by 2050. In 2017, it added Environmental Factors to its investment strategy and, in 2018, it joined the UN Environment Programme Finance Initiative where it helped shape the future of climate risk assessment reporting through its involvement in a Task Force on the Climate-related Financial Disclosures (“TCFD”) pilot project. 

Under the NZAM initiative, LaSalle will work with its clients on decarbonization goals. LaSalle is in the process of finalizing interim targets for reducing carbon dioxide emissions in line with the 1.5C target, a requirement in the Intergovernmental Panel on Climate Change (IPCC) special report on global warming. To meet its targets, LaSalle will prioritize real economy emissions reductions over the use of offsets. It is also looking to create investment products that are aligned with net zero. The NZAM initiative will see LaSalle implement a stewardship and engagement strategy designed to ensure all assets under management achieve net zero emissions by 2050 or sooner.

“LaSalle prides itself on being an industry leader in sustainability. By joining the Net Zero Asset Managers initiative, we are reinforcing our commitment to reduce the environmental impact of our business and portfolios, which we believe in the longterm will not only help the planet, but enhance the performance of our clients’ investments,” said David DeVos, Global Head of Sustainability at LaSalle. “We look forward to working with our clients and the industry to set goals and develop innovative solutions to meet the world’s goal of Net Zero.”

The 220 signatories manage more than $57 trillion in assets under management, meaning that more than half the world’s assets are committed to achieving net zero by 2050 or sooner.⁽²⁾

1. LaSalle, “Sustainability Themes Take Center Stage”
2. Net Zero Asset Managers Initiative, https://www.netzeroassetmanagers.org/

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

LaSalle is pleased to announce the final close for its latest real estate debt fund, LaSalle Real Estate Debt Strategies IV (“LREDS IV” or “the Fund”).  LREDS IV has raised €1.1 billion of capital – inclusive of side car commitments currently in closing, exceeding its target capital raise, and making it the largest fund in its flagship European debt fund series. The Fund has attracted commitments from institutional investors, both re-ups and new investors in the series from Europe, Middle East and Asia Pacific.

LREDS IV will be able to provide flexible capital solutions to institutional real estate sponsors across Europe in the form of whole loans and mezzanine debt in all major asset classes and Western European countries.  The Fund will be supported by the existing Debt Investments team and two recent key senior hires: David White and Michael Zerda.  Michael Zerda is rejoining from Blackstone to oversee LaSalle’s debt and value-add equity strategies in Europe.

The fundraise brings LaSalle’s gross loan origination capacity in Europe to over €4.0 billion across all of its various real estate credit products, which include senior loans, development finance, and preferred equity.

David White, Head of LREDS series at LaSalle said:” We have an exemplary team of lending professionals backed by an impressive track record and strong borrower and bank relationships across Europe.  We are well equipped to offer bespoke and creative capital solutions for our borrowers across a wide array of asset classes and jurisdictions.”

Amy Klein Aznar, Executive Chair of Debt & Value-Add Strategies at LaSalle said: “We are pleased to have surpassed our €1bn target raise on LREDS IV which could not come at a better time, having recently strengthened our senior leadership team with Michael Zerda and David White. Our team is very well positioned to invest our significant dry powder across LaSalle’s various real estate credit strategies.”

Michael Zerda, Head of Debt & Value-Add Strategies at LaSalle said: “We are humbled by the support of our investors and excited for the opportunities ahead.  This latest fundraise has added to the scale of LaSalle’s real estate credit business, allowing us to engage on a wider range of opportunities across Europe.”

LaSalle’s European Debt Investments platform has a long track record of lending to best-in-class sponsors and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has invested over €4.0 billion in 89 individual transactions with a gross value in excess of €22 billion as of September 2021.

About LaSalle Investment Management 

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

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

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

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

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

The three initial acquisitions are:

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

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

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

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

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

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

About LaSalle in Canada

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

About TAS

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

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

About LaSalle Canada Property Fund (LCPF)

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

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

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

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

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

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

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

###

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

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

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

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

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

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) is pleased to announce that five of its funds earned top scores within the 2021 Global Real Estate Sustainability Benchmark (GRESB), a leading global sustainability measure, recognizing LaSalle’s commitment to sustainable performance.

The GRESB Assessment is a globally recognized and respected sustainability measure for the real estate industry. In 2021, LaSalle made 14 submissions for the Assessment, comprising a range of commingled funds, its listed REIT in Japan, and three separate account mandates in Europe. All 14 submissions were awarded GRESB Green Stars, a recognition based on high management and performance scores within the GRESB Ratings. Across these submissions, LaSalle achieved five 5-star GRESB ratings, the highest attainable, along with three 4-star and four 3-star ratings, plus two 2-star ratings. In 2020, LaSalle earned one 5-star and five 4-stars.

The GRESB rating is based on a fund’s GRESB Score and its quintile position relative to all participants in the Assessment. Those funds in the top quintile are awarded a 5-star rating.

The LaSalle E-REGI fund was named a regional GRESB Sector Leader in the “Diversified – Office/Industrial” category. Entities with the top GRESB Score, as well as entities with a score within 1 point of the top score in a category, are recognized as Sector Leaders.

The GRESB recognition illustrates LaSalle’s achievement thus far in its global commitment to the Urban Land Institute Greenprint Center for Building Performance Net Zero Carbon (“NZC”) Goal by 2050. LaSalle is putting particular focus on carbon reduction, climate risk, community and resource conservation, including water and waste management and biodiversity.

David DeVos, Global Head of Sustainability at LaSalle, said: “We are proud that the sustainability processes we have put in place are yielding results, as shown through in these GRESB Ratings. Sustainability has been shown to have a material impact on enhancing and protecting investment performance, which will continue to increase over time. Through our framework, we are able to incorporate sustainability into all stages of the asset life cycle to ensure we identify, develop and manage the type of assets that deliver resilient investment performance.”

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

LaSalle announces the final close for LaSalle China Logistics Venture (“LCLV” or the “Fund”) and its co-investment vehicle with total committed capital of US$972 million raised. The Fund and its co-investment vehicle had received initial capital commitments of US$681 million at its first close last year.

LCLV is LaSalle’s first fund dedicated to the China logistics sector, investing in modern logistics properties in markets with strong fundamentals. The Fund has seen strong support from a diverse group of new and existing global investors, attracting capital from North America, Europe, the Middle East and Asia.

The completion of the capital raise comes as the Fund and its co-investment vehicle have already invested and committed US$423 million across 15 investments. This includes three recent acquisitions in Shanghai, Nanjing, and Tianjin. The Fund is expected to have investment capacity of up to USD 2.5 billion.

LCLV invests across Tier I and Tier II cities located in China’s key logistics regions, including the Yangtze River Delta (Greater Shanghai), Bohai Bay (Greater Beijing) and the Greater Bay Area (South China). The Fund seeks to acquire and develop a diversified modern logistics portfolio in markets with strong fundamentals, capturing attractive development margins. LCLV also seeks to acquire and reposition underperforming assets. In addition, the Fund will focus on investing in cold chain logistics, benefiting from the rising demand from the fresh food sector in China.

Keith Fujii, Head of Asia Pacific, said: “China has always been a key growth market for LaSalle. The successful close of LCLV will allow us to pursue compelling investment opportunities and expand our on the ground investment footprint, drawing upon our regional resources and local expertise in the sector. We are pleased to deepen our commitment to our China business with the close of our new Fund.”

Claire Tang, Co-CIO, Asia Pacific and Head of Greater China, said, “The China logistics sector continues to be underpinned by solid fundamentals – strong domestic consumption coupled with a rapid acceleration in e-commerce adoption post-Covid. The successful closing highlights our strong track record, the market opportunity, and endorsement on our investment approach. With our experienced team, we are well-positioned to source and execute on the best opportunities.”

LaSalle has a long track-record of success in the Chinese logistics sector, with more than US$2.1 billion of transactions completed since 2008. LaSalle currently manages over US$6billion of logistics investments in Asia, across key markets including China, Japan, Korea and Australia.

About LaSalle Investment Management

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

About LaSalle in Canada

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

About Ivanhoé Cambridge

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

Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60,4 billion in real estate assets as at December 31, 2020, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: ivanhoecambridge.com.

About LaSalle Investment Management

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

The re-opening of the world economy, the re-emergence of leasing activity, and a pickup in capital market transactions have all brought a strong sense of optimism to real estate investors at the midway point in 2021, according to LaSalle’s 2021 Mid-Year Investment Strategy Annual (ISA) Report.

The ability for Asia Pacific, as a region, to rebound from the pandemic is remarkable. Asia Pacific’s rapid containment of the initial COVID-19 outbreak, along with a series of emergency fiscal stimulus actions at record speed, facilitated the economic recovery in Asia Pacific earlier than other regions in the world, even without the higher rollout of vaccines achieved. The accelerated vaccine rollouts in China and developed Asia Pacific countries and the economic recovery in North America and Europe could also provide a tailwind for Asia Pacific. All of these are driving several regional trends that benefit real estate investment performance, such as the rise of the middle class, growing consumption, the expansion of intra-regional trade and supply-chain networks, and an increase in investments in technology and urban infrastructure.

Domestic consumption – particularly e-commerce – is expected to continue to drive warehouse demand in the region. The willingness to return to offices continues to set Asia Pacific apart from other regions, although we expect performance dispersion among major office markets in the region. Office demand in major Asia Pacific markets, on an aggregated basis, experienced just one quarter of negative absorption to date during the pandemic. The overall more positive outlook than other regions and the depth of investor interest make it a continued sector of interest. LaSalle also continues to favor the multifamily sector, particularly in Japan, as a key allocation in core investors’ portfolios, on the back of stability of income.

Sustainable investment policies took center stage for many more asset owners during the pandemic. These considerations are expected to play a large role in Asia Pacific and many countries have announced their roadmaps to carbon neutrality. As a result, investors and occupiers are paying more attention to sustainability standards.

Elysia Tse, Head of Asia Pacific Research & Strategy at LaSalle Investment Management, said, “We continue to focus on our favored sectors, particularly logistics and multifamily in the region, and major Japan real estate markets and sectors, as economic activity picks up. In addition, we favor investment opportunities in select office markets to ride the recovery. For risk-tolerant investors, we focus on finding relative value in less favored sectors such as hotels and retail.”

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

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

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About Amherst Residential

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

*As of 3/31/21

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

About LaSalle Investment Management

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

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

Real estate markets are beginning to stabilize and even show growth in the U.S. and Canada as large-scale COVID-19 vaccination programs enable economic re-openings across North America, according to the LaSalle Research & Strategy’s 2021 Mid-Year Investment Strategy Annual (ISA). However, much like in the full-year report published at the close to 2020, uncertainty remains around specific property types and inflation.

LaSalle clients can view the full report at: www.lasalle.com/isa

With the backdrop of a strengthening economy and rolling re-openings, the report notes that real estate returns have exceeded expectations in the first half of the year, leading LaSalle to upgrade its return outlook for the remainder of the year. The improved outlook is bolstered by strong investor demand for favored property types and low borrowing costs that are attracting investors to real estate.

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “For real estate investors around the world, the pandemic rocked the foundation of the asset class. As our Mid-Year Update reveals, real estate has generally survived intact, and many markets are thriving in novel ways. However, for every property sector or specific location with robust demand, there is another sector facing serious headwinds and existential questions. The pandemic accelerated technology trends in virtually every aspect of our lives – from remote working, tele-health, distance learning, and the deepening of e-commerce. Additionally, the pandemic accelerated the adoption of sustainability policies by investors and by occupiers of real estate, a move that has many implications for how LaSalle invests in and operates its real estate holdings going forward.”

Select 2021 Mid-Year ISA findings for North America include:

• An update on the global “Future of…” series, which provides forward-looking perspective into the office, retail, logistics, residential and niche property sectors in North America and around the world.
• Vaccination efforts and lower COVID-19 case counts are allowing for greater mobility among U.S. and Canadian populations, breathing life back into some of the property sectors most acutely affected by the pandemic. While the office and retail sectors are lagging behind “in-favor” sectors such as apartments and industrial, there are bright spots emerging as people return to the office and foot traffic accelerates at select retail properties.
• Meanwhile, the apartment and industrial sectors continue to outperform. Cap rates in these sectors compressed 50 basis points or more during the first half of the year to all-time lows as investor demand for warehouses remains insatiable and apartment properties benefitted from record setting demand.
• A major theme of the full-year ISA was how the pandemic would affect the dynamic between urban and suburban markets. As expected, suburban properties have outperformed, benefitting from an acceleration of pre-pandemic demographic trends and people looking to avoid the more restrictive, close-in urban centers amid the pandemic. LaSalle projected an urban rebound, and that is starting to materialize, illustrated by accelerating urban apartment rent growth in April and May.
• There remains uncertainty in the market especially as it pertains to inflation. While the U.S. Federal Reserve and Bank of Canada have taken the view that increases in inflation are transitory and kept rates low, this raises the risk that inflation will be higher for longer if policy makers’ views are proven incorrect. Inflation is already affecting real estate development. For instance, residential construction prices rose 12.5% and 11.7% year-over-year in the U.S. and Canada, respectively, and General Contractors are passing on these higher costs to investors. The real estate market will have to adjust and that will occur through a combination of: 1) Investors accepting a lower yield on cost; 2) Rejection of development projects that do not deliver an acceptable return; 3) Underwriting higher rents to counter the impact of higher costs; or 4) Land values declining to compensate for the higher costs.

Rich Kleinman, Americas Co-CIO and Head of U.S. Research & Strategy at LaSalle, said, “As we anticipated earlier this year, rising vaccination rates and a steady re-opening in the U.S. are drawing investors back to real estate. As investment activity recovers the key choice is whether to pursue relative value in some sectors that have been more challenged during the pandemic, or join the robust flow of capital heading into favored sectors. As more properties transact, clearer pricing will help provide more clarity around this decision, enabling a more liquid market as the year progresses.”

Chris Langstaff, Head of Research and Strategy for Canada at LaSalle, said, “Earlier in the year we discussed that the speed at which the pandemic can be contained in 2021 would largely determine the strength of Canada’s economic recovery. While the vaccine rollout in Canada initially lagged the U.S., it is now quickly catching up, providing positive tailwinds for the real estate market. Historically low borrowing rates and improving NOI and fundamentals are providing a further boost.”

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) announced that its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), expanded its portfolio with the acquisition of the Greater Toronto Area Logistics Portfolio (“GTA Portfolio”).

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

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

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

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

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

About LaSalle in Canada

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

About LaSalle Investment Management

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

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

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

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

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

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

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

About The Altman Companies

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

Valuations, Forward Looking Statements and Future Results

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

About LaSalle Investment Management

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

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

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

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

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

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

About the American Red Cross

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

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) announced that 275 Slater Street, a downtown Ottawa property in its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”), earned the prestigious LEED® Platinum v4.1 Certification for Operations and Maintenance. LEED Platinum is the highest distinction for sustainable buildings on the Leadership in Energy and Environmental Design (LEED) Certification Green Building rating system. The system is recognized globally as an indicator of sustainability achievement and leadership. To achieve LEED Platinum, buildings must receive a high score in key areas that measure environmental impact.

Sam Barbieri, SVP, Portfolio Management and Deputy Fund Manager, LCPF, said: “We are extremely proud that 275 Slater achieved the highest level of LEED certification, especially given that the property is 53 years old. While newly constructed assets are often built to LEED standards, updating an asset of this vintage takes considerably more planning and vision. LCPF’s focus for this asset, as well as all assets in the portfolio, is to continuously improve environmental performance with the goal of making each asset best-in-class.”

Elena Alschuler, Americas Head of Sustainability, added: “Our commitment to sustainability remains a top priority for us as we strive to achieve our goal of net zero carbon by 2050 for our managed portfolio. The LEED Platinum certification at 275 Slater Street is a testament to these continued efforts, and further bolsters LaSalle Canada Property Fund’s standing as an industry leader in sustainability in Canada.”

Contributing to this certification is the progress 275 Slater Street made on reducing energy and water consumption. Through improvements, the property reduced energy and water consumption by 7 percent and 16 percent respectively since receiving a LEED Gold certification in 2017. In the same four years, the building’s waste diversion increased by 2.7 percent. The certification adds to LCPF’s recent achievements as a leader in sustainability. LCPF received Five Stars, the highest rating, from the Global Real Estate Sustainability Benchmark (GRESB) for 2019, the most recent year for GRESB ratings.

About LaSalle in Canada

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

About LaSalle Canada Property Fund (LCPF)

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

LaSalle is pleased to announce that Michael Zerda will be rejoining the firm to head up its market-leading Debt & Special Situations platform and value-add equity strategies, spearheading higher return investment initiatives. Michael will work closely with Amy Klein Aznar, who will transition to the role of Executive Chair of Debt & Special Situations later this year.

Later in the year Michael Zerda will become the Head of Debt and Special Situations, overseeing its existing multi-strategy debt business of over 30 professionals, and spanning senior debt, mezzanine, and high yield strategies, as well as growing its special situations and value-add equity strategies. Michael brings a 20-plus year track record of equity and debt investing in European real estate. He was most recently Head of Europe for Blackstone’s Real Estate Debt Strategies (BREDS).

Amy Klein Aznar will become the Executive Chair of LaSalle’s Debt and Special Situations platform. In her new role, Amy will remain closely involved in investment strategy and decision making, client relationships and communication, and will serve on the Debt and Special Situations Investment Committee. She will also continue to meaningfully co-invest in current and future investment vehicles. Amy’s decision to move to the role of Executive Chair will reduce her day-to-day responsibilities and enable her to devote more time to her family’s business interests.

Amy and Michael worked together from 2009 to 2016 while building the Debt and Special Situations at LaSalle and have a long-term business and working relationship, spanning 17 years. The move comes at a time of significant growth for the platform and continued strong investment performance across its multiple business lines. Since inception, LaSalle’s Debt and Special Situations team has raised nearly €6bn, with the fourth fund in the flagship European real estate mezzanine series, LREDS IV, expected to hold its next closing at c.€900m and is on track to exceed its €1bn fund raise target.

Amy Klein Aznar, the incoming Executive Chair of European Debt & Special Situations at LaSalle, said, “I am thrilled that Michael is returning to the business that we started together over ten years ago. I look forward to working together again with Michael and the existing senior team and to my continuing involvement as Executive Chair of Debt and Special Situations.”

Michael Zerda, the incoming Head of European Debt & Special Situations at LaSalle said, “The growth, scope, and scale of the platform is testament to the quality of the team, its investment discipline, and Amy’s leadership since its inception over ten years ago. I am excited to work with the team to help them deploy existing capital and see terrific opportunities ahead as we grow the special situations and value-add equity strategies.”

Philip La Pierre, Head of and CIO of Europe at LaSalle, said, “We are delighted to welcome Michael back to LaSalle. He will be fully supported by his strong senior leadership team including Richard Craddock as well as the wider European LaSalle Business. The combination of this leadership, and Amy’s continued involvement in the business, is ideal to continue the exciting growth of the platform. Building out special situations and higher-return equity strategies is a natural evolution of the business and we are confident in Michael and Amy’s ability to lead that expansion through their almost two decades of working together across debt and equity.”

About LaSalle Investment Management

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

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

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

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

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

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

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

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

About ENERGY STAR

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

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

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

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

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

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

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

About LaSalle in Canada

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

About LaSalle Canada Property Fund (LCPF)

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

About Hazelview Investments

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

About Trinity Development Group

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

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”) today announced the appointment of Kristy Heuberger and Brad Gries to Co-Heads of the Americas, effective March 31, 2021. Ms. Heuberger and Mr. Gries will succeed Jason Kern who has served as the firm’s Americas CEO since 2013 and has overseen a substantial period of growth with the region’s Assets Under Management (AUM) doubling to more than $22 billion, of the firm’s $71 billion global AUM, during his tenure. Mr. Kern has mutually agreed to step down from this role to pursue other interests. Ms. Heuberger currently serves as LaSalle’s Head of US Asset Management and Mr. Gries currently serves as Americas Co-CIO & Head of US Transactions.

As Co-Heads of the Americas, Brad and Kristy will jointly be responsible for overseeing all personnel, operational, portfolio management across the region, while maintaining existing leadership of the transactions and asset management activities. They will report directly to LaSalle Global CEO Mark Gabbay and join the firm’s Global Management Committee.

Mark Gabbay, Global CEO at LaSalle said: “We thank Jason for his contributions in advancing the growth and development of our Americas business over the past eight years. We are fortunate to have a very strong operational platform, client and asset base from which to build, combined with a talented bench of colleagues to drive progress. I am confident that Kristy and Brad’s leadership experience at LaSalle, combined with their strong track record of investing and managing assets will help further accelerate performance and service to our clients.”

Jason Kern, incumbent Americas CEO at LaSalle said: “I am incredibly proud of the collective successes we achieved in the Americas during my time at LaSalle. Succession planning is an important part of our fiduciary obligation. I recruited Kristy and Brad to the firm knowing they possessed the right mix of skills and leadership to shepherd our growth and performance in the region, while maintaining our award-winning culture as an employer of choice. I look forward to watching the progress of the firm in the years ahead.”

Kristy Heuberger, incoming Co-Head of the Americas at LaSalle said: “We are honored to team up for this role to co-lead the business and build on the impressive foundation of the Americas. Our teams have worked in great partnership over the years and we are excited to drive progress as we head into our next phase of growth. I would like to thank Jason for his leadership and guidance over the years and wish him the best in his next chapter.”

Brad Gries, incoming Co-Head of the Americas at LaSalle said: “Kristy and I are taking leadership of a platform with a very strong foundation and robust organic growth potential, which is a testament to the efforts and skill of our teams and a credit to Jason’s leadership. We are confident that our teams across the region are well-positioned to capitalize on the opportunities ahead.”

Since joining LaSalle in 2015, Kristy has successfully led the team managing $18 billion of LaSalle’s US private equity portfolio, spanning nearly 300 properties across arrange of sectors and risk profiles. Prior to joining LaSalle, Kristy spent 26 years at GE Capital Real Estate (and predecessor Heller Financial), holding several senior level roles. In her 20+ years in the real estate investment industry, she has worked on both the equity and debt side of the business, and has experience across a variety of disciplines, including asset management, originations, marketing, and operations.

Since joining LaSalle in 2017, Brad has successfully led the team responsible for more than $15.5 billion of total acquisitions and dispositions, while working as a strategic partner with the Fund and Custom Account teams to shape client portfolios. Prior to joining LaSalle, Brad held leadership positions over the course of a 16-year career with the real estate investment arm of DWS, most recently serving as Managing Director, Real Estate Transactions. Before DWS, Brad held analyst and consultant positions at MB Real Estate and Arthur Andersen.

About LaSalle Investment Management

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

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

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

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

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

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

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

Benefits of an Institutional 1031 Exchange Solution

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

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

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

LaSalle Investment Management (LaSalle) announced today it has received double honors at the PERE Awards 2020, winning Firm of the Year – Japan and Firm of the Year – France.

One of the leading publications for the world’s private real estate markets, PERE has a readership of more than 35,000 professionals worldwide and the PERE awards are based on a unique industry poll that recognizes firms and individuals whose work gives shape and purpose to the sector. For a complete list of the PERE Awards 2020, visit this page.

Click the images below to learn more about our regional businesses with leadership perspectives.

Keith Fujii, Asia Pacific CEO at LaSalle, said: “We are proud to be recognized by the real estate industry as Firm of the Year – Japan. This award is a testament to our team in Japan, who completed a number of diverse real estate opportunities in major markets across the country, including acquisitions, dispositions, developments, asset management and leasing. Despite the challenging year, we were also incredibly pleased to complete the global public offering of LaSalle Logiport REIT in September, which was the first global public offering of a Japanese real estate investment since the start of COVID-19.”

Philip La Pierre, Europe CEO at LaSalle, said: “It is an honour to have won the PERE award for Firm of the Year – France and it is a reflection of our team’s determination to succeed. Being recognized by our industry peers is a huge achievement, so we are delighted to celebrate this. Our team managed several high calibre transactions in France last year, positioning the firm as one of the country’s most active investment managers. We look forward to building on this recognition, while focusing on our clients and strong performance.” 

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management

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

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

CHICAGO, Feb. 4, 2021 – JLL (NYSE: JLL) has been named to the 2021 Bloomberg Gender-Equality Index (GEI), which tracks the performance of public companies committed to supporting gender equality through policy development, representation and transparency. This is the second consecutive year JLL has been included in the index.

“We have a steadfast commitment to a more diverse and inclusive future, which is core to our purpose of shaping the future of real estate for a better world,” said Mary Bilbrey, JLL’s Chief Human Resources Officer. “Women continue to be disproportionately affected by the pandemic, and we are leading with empathy and flexibility to build a supportive culture that puts well-being at the forefront of the future workforce. We are honored that Bloomberg has again recognized our gender equality efforts.”

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

Read more about this award on JLL.com

Asia Pacific has come through the pandemic in stronger shape than any other region to date. Uncertainty will remain a dominant theme in 2021, although there are signs of bifurcated economic and real estate market performance in the region, according to the LaSalle Investment Strategy Annual (ISA) 2021.

China, in particular, is exhibiting a V-shaped recovery amid the pandemic-led recession. The success of the region can be largely contributed to the role of governments, high trust in local institutions, ultra-accommodative monetary policies, and the record size of fiscal stimulus packages in major Asia Pacific countries. The vaccine deployment in the region is also expected to further support the recovery. These stabilizing influences accompanied by trends we have identified in the past—the rise of intra-regional trade and the steady rise of transparency—help reduce the effects of post-pandemic uncertainty.

Countries with relative success in keeping the pandemic under control, a significantly large domestic demand base, effective monetary and fiscal stimulus packages, and room for more stimulus are expected to lead the economic recovery in the region. The ranking of the relative strength of major Asia Pacific economies in a post-pandemic outlook has China leading, followed by Japan, South Korea, Singapore, Australia, and Hong Kong. This reinforces our conviction that domestic and intra-regional recovery in Asia Pacific will contribute more to the economic recovery in the region than external influences from outside the region.

Real estate sector shift

The pandemic has accelerated the shift toward online retailing, enhancing the strong demand for logistics. The increase in logistics transaction volume has primarily been at the expense of the retail sector. The robust investor demand for logistics facilities across the globe and in the Asia Pacific region in recent years is expected to expand the investable universe of the sector in 2021 and beyond. The pandemic has also accelerated the attractiveness of multi-families in Japan, the only institutionalized multi-family market in Asia Pacific, and the rise of the multi-family sector in the rest of the region, for example China. The ongoing sector shift is likely to drive investors, particularly asset allocators, to broaden their real estate portfolios to include more logistics and multi-family assets in Asia Pacific as a way to complement other property types.

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “In the 2021 edition of the ISA, our advice for investors is to hold the course. On the other side of the pandemic lies a landscape that real estate investors will recognize, even if it will also be different in surprising ways. The strength of the post-vaccine recovery could be one of those surprises. The secular trends we follow have been simultaneously accelerated and interrupted, and as a result, we undertake a global look at the future of the mainline property types, while also focusing on the rise of viable alternatives.”

Keith Fujii, Asia Pacific CEO at LaSalle, said: “Compared to other regions around the world, several Asia Pacific countries have been the first to be on the path of economic recovery. That means we will continue to see strong investor appetite this year for Asia Pacific real estate, particularly in Japan with sustained resiliency and China where the economy and property markets are rebounding. The shift to digital commerce is expected to continue in 2021 and so will the capital flows into logistics assets in the region. Broad-based distress is unlikely in the region, but there’s potential for some distressed or repricing opportunities from financially challenged developers and asset owners.”

Elysia Tse, Head of Asia Pacific Research and Strategy at LaSalle, said: “The future of office properties has been the most debated among major property types globally. We believe there are a few key areas that differentiate major office markets in Asia Pacific. First, the human behavioral influence on tenant occupancy decisions – the progress of returning to the office has been the most advanced in Asia Pacific – the sooner people can and are willing to return to work in their offices, the lesser the permanent impact of remote working on the future of offices. Second, a cultural element, face-to-face meetings in a formal office setting represent high business value and are viewed as essential business rituals in countries such as China, Japan, and South Korea. Third, the relatively small residential unit size in several highly urbanized Asian cities, for example in Japan, makes working from home challenging in the long term. One of the key values of physical office space is collaboration. Despite the relative success of working from home, it is likely to be one of the options, but not a permanent replacement for office space in major Asia Pacific markets.”

LaSalle clients can view the full report at: www.lasalle.com/isa

About LaSalle Investment Management

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

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

CHICAGO, Feb 1, 2021 – JLL (NYSE: JLL) has been again named to Fortune magazine’s World’s Most Admired Companies list. The list is a major authority on corporate reputations compiled each year by Fortune and Korn Ferry through a survey of 3,820 executives, directors and securities analysts. This year, JLL was recognized for social responsibility, global competitiveness and quality of management.

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

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

Read more about this award on JLL.com

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

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

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

Read more about this award on JLL.com

CHICAGO, Jan. 28, 2021 – JLL (NYSE: JLL) announced today that it earned a perfect score on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ workplace equality. This is the seventh consecutive year that JLL received the top mark, demonstrating an ongoing commitment to an inclusive culture.

Some of JLL’s U.S. corporate policies and practices that helped earn a 100% score include:

• inclusive spousal and domestic partner health benefits, including adoption benefits
• transgender-inclusive health benefits
• mandatory manager/supervisor trainings on JLL’s non-discrimination policy that includes gender identity and sexual orientation
• written gender-transition guidelines documenting supportive policy and practice on issues pertinent to a workplace gender transition
• targeted recruiting efforts to the LGBTQ community
• an active supplier diversity program with certified LGBTQ-owned businesses

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

Read more about this award on JLL.com

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

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

JLL Income Property Trust retail anchor leasing highlights include:

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

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

About LaSalle Investment Management 

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

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

LaSalle is projecting that the U.S. and Canadian real estate markets will begin to recover in 2021 as market conditions thaw amid the accelerating rollout of COVID-19 vaccines and the associated economic rebound. Increasing clarity is expected throughout the year on real estate pricing and the direction of government policy. However, according to LaSalle’s 2021 Investment Strategy Annual (ISA), uncertainty remains for certain property types including office, retail and lodging as long-term hurdles remain.

LaSalle clients can view the full report at: www.lasalle.com/isa

LaSalle is projecting that Gross Domestic Product (GDP) will recover to prior peak levels by the end of 2021 and job growth to follow by 2022–23, with Canada slightly leading the U.S. in terms of jobs recovery. The ISA advises investors to expect a virtuous cycle of increased spending on services leading to business expansion and hiring in late 2021 and into 2022.

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “In the 2021 edition of the ISA, our advice for investors is to hold the course. On the other side of the pandemic lies a landscape that real estate investors will recognize, even if it will also be different in surprising ways. The strength of the post-vaccine recovery could be one of those surprises. The secular trends we follow have been simultaneously accelerated and interrupted, and as a result, we undertake a global look at the future of the mainline property types, while also focusing on the rise of viable alternatives. Each country we follow will experience the post-Covid recovery differently. The U.S. and Canada will benefit from healthy capital markets — both debt and equity — and a strong consumer rebound.”

Select ISA 2020 findings for the U.S. include:

• Throughout 2020, uncertainty about values weighed on capital flows to real estate. But in 2021 and 2022, this pricing uncertainty is expected to clear as capital flows rebound. Importantly, in the U.S. there continue to be property types that can be categorized as “winners” amid historically wide differences in pricing and investor interest. Those property types include industrial, suburban apartments, and some specialty property types, such as medical office, life sciences real estate, and self-storage. Meanwhile, uncertainty remains around conventional office and malls, though questions remain about whether headwinds such as remote working and e-commerce affecting these property types are permanent or temporary.
• The pandemic is limiting activity in urban cores in the near term, with apartment demand and rent growth in urban areas severely lagging suburban locations. Real estate investors are right to ask if these are temporary or permanent changes. Pre-pandemic dynamics including ample supply, higher relative yields and favorable demographics were already providing tailwinds for suburban apartments, which were further accelerated by the desire for space amid the COIVD-19 outbreak. Nonetheless, the ISA advises investors to watch for a recovery for urban locations, which will drive demand for urban apartments, offices, and to some extent retail, as the pandemic comes under control and the amenities of urban living once again re-open.
• The attractiveness of “secondary” markets will be emphasized throughout 2021 relative to the so-called “primary” or “gateway” markets in the U.S. (e.g., Boston, New York City, Washington DC, Chicago, San Francisco, and Los Angeles). In addition to headwinds such as regulatory burdens, climate risks, property tax risk, and growth challenges of the gateway markets are increasing. Markets with a stronger growth outlook and less regulatory and climate risk, particularly those in the Sunbelt, may pique investor interest as pricing clarity and capital flows evolve through 2021.

Rich Kleinman, Americas Co-CIO and Head of U.S. Research & Strategy at LaSalle, said, “While there remains some uncertainty around certain property types as we head into 2021, on the whole, we see U.S. real estate providing a compelling value proposition for diversified investors. We believe with continued low interest rates, real estate will remain a critical source of long-term yield for investors even amid some short-term headwinds caused by the pandemic.”

Canadian Outlook

While Canada initially coped well in the face of COVID-19 by drawing on prior experience with SARS, Western Canada has been hit hard by the collapse in energy prices and COVID-19 cases are rising across the country in a pattern similar to the U.S. Ultimately, the Canadian economy was one of the hardest hit during the pandemic, but the ISA shows it is also poised for one of the largest rebounds. While the Canadian jobs recovery is expected to outpace that of the U.S. in 2021, much of the same questions remain for North America’s second largest economy heading into the year. Like the U.S., questions remain about whether there will be further economic stimulus, which proved effective earlier in 2020 and will likely be needed to stave off a possible decline in economic activity. Likewise, questions remain about the attractiveness of urban versus suburban properties. In Canada, urbanization within the major metros has been a significant growth driver in recent years, but the pandemic is driving a renewed interest in suburban locations among companies (i.e., office tenants) and individuals (i.e., apartment and condo residents).

Chris Langstaff, Head of Research and Strategy for Canada at LaSalle, said, “The speed at which the pandemic can be contained in 2021 will largely determine the strength of Canada’s economic recovery. We expect continued strong levels of consumer spending and a recovery in trade and output to drive economic growth, while a resumption of immigration will drive population growth. While many service-driven sectors like retail and lodging remain depressed due to limitations on gatherings, we expect a rebound in the second half of 2021.”

About LaSalle Investment Management 

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

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

Elena joins LaSalle from View Inc., where she led real estate activities including the firm’s strategy and execution to scale adoption of smart glass in the office and multifamily sectors across the US and Canada. Prior to View Inc., Elena worked at the US Department of Energy in Washington, DC as a Building Technologies Project Manager, as well as the MIT Department of Urban Studies & Planning in Cambridge, Massachusetts, and HR&A Advisors in New York. She has a Bachelor’s degree from Bard College, and a Masters in City Planning from MIT.

Tim Kessler, Global Chief Operating Officer of LaSalle, commented: “We are pleased to welcome David and Elena to their roles as we expand our commitment to sustainability leadership. We believe that integrating sustainability best practices into our day-to-day work is the most efficient method to maximize investment performance for our clients while minimizing our impact on the environment. We look forward to David and Elena’s contributions to grow our broader sustainability program and portfolio performance in the years ahead.” ​

David DeVos, Global Head of Sustainability at LaSalle, commented: “I am thrilled to be joining LaSalle, and look forward to helping advance the firm’s sustainability programs around the world. LaSalle has a strong foundation to build from, and I am excited to partner with our teams around the world to drive long-term, sustainable value for our clients, partners and colleagues.”

David and Elena’s roles will complement LaSalle’s existing Sustainability Officers and teams around the world, led by Sophie Carruth in Europe, Tom Miller in Asia Pacific, Steve Ralff for LaSalle Securities, and Katie Jowett for LaSalle Global Partner Solutions. For more than 10 years, LaSalle has been a leader in real estate sustainability initiatives, highlighted by the firm’s recent GRESB and UNPRI ratings for 2020, available here.

These achievements follow LaSalle’s announcement of its global commitment to the Urban Land Institute’s Greenprint Center for Building Performance Net Zero Carbon (“NZC”) Goal and becoming a signatory to the UK Better Buildings Partnership Climate Change Commitment, setting out LaSalle’s ambition for the European portfolio to achieve NZC by 2050 for both whole building operational carbon and embodied carbon. For additional in Read more about LaSalle’s sustainability policies and achievements by visiting www.lasalle.com/impact.

About LaSalle Investment Management

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

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

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

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

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

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

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

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

Benefits of an Institutional 1031 Exchange Solution

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis

About LaSalle Investment Management

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

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

LaSalle Investment Management (LaSalle) is pleased to announce it has been named a Best Place to Work in Money Management for 2020 by Pensions & Investments (P&I). This marks the fifth consecutive year LaSalle has received this prestigious recognition.

Amy B. Resnick, P&I Editor, said: “In this very unusual year, we learned again that employers that consider the overall wellbeing of their employees are regarded well. The best employers in 2020 are those that have stepped up with policies and practices to support and protect employees’ physical and emotional health, while continuing to keep the focus on clients’ needs. Our surveys found that the employers on the list were likely to work hard to sustain their corporate cultures, even during times of pandemic lockdowns and continuing to work from home in many cases.”

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.

About Pensions & Investments

Pensions & Investments, owned by Crain Communications Inc., is the 48-year-old global news source of money management. 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.

About LaSalle Investment Management

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

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

LaSalle Investment Management (“LaSalle”), an operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), announced today that Mark Gabbay, currently CEO and CIO of LaSalle Asia Pacific, will assume the role of LaSalle Global CEO, effective January 1, 2021. Gabbay will succeed Jeff Jacobson, who is transitioning leadership after a 14-year tenure as LaSalle Global CEO. Jacobson will stay on as LaSalle Chairman through at least June 2021 and will continue to work closely with the leadership team to ensure a smooth transition and continued momentum in the business.

As CEO since 2007, Jacobson successfully led LaSalle through two global crises and oversaw a period of expansion with AUM growing over 57% to more than $65 billion as of Q3 2020. During his tenure, LaSalle executed numerous strategic product launches, accretive acquisitions, and a global transformation culminating with a coordinated series of leadership appointments being announced today.

Christian Ulbrich, JLL CEO added, “Jeff’s leadership and investment expertise have been instrumental in LaSalle’s success over the past 30 years. We thank him for positioning the business on such solid footing and being an outstanding steward for LaSalle’s investors and employees throughout his career. Mark is the right leader to drive the next phase of growth and further enhancing LaSalle’s industry leading real estate investment management offer.”

Mark Gabbay, incoming LaSalle CEO said, “I am honored and excited to become the next CEO of LaSalle. Our global platform, singular real estate focus and investment expertise around the world is unparalleled and I look forward to working with our teams to drive growth, innovation and performance in the years ahead.”

As part of the succession plan, the following leadership changes are being implemented in LaSalle’s Asia Pacific region:

• Keith Fujii, Japan CEO, will step into the Asia Pacific CEO role previously held by Mark Gabbay
• Claire Tang, Head of Greater China, and Kunihiko (Nick) Okumura, Head of Japan Acquisitions, will become Co-CIOs of Asia Pacific to fill the CIO role previously held by Mark Gabbay

In addition, the following individuals will be stepping into new global roles as part of the global transformation of LaSalle:

• Tim Kessler, Global Head of Corporate Strategy and Development, will become Global Chief Operating Officer  
• Alok Gaur, Global Co-Head of Client Capital Group, will become Global Head of Client Capital Group
• Jon Zehner, Global Co-Head of Client Capital Group, is transitioning to CEO of Global Partner Solutions, LaSalle’s global unlisted indirect business unit, succeeding Ed Casal

Other members of LaSalle’s executive leadership team remain in place:

• Jacques Gordon as Global Strategist
• Lisa Kaufman as CEO Global Real Estate Securities
• Gordon Repp as General Counsel
• Mike Ricketts as Global Chief Financial Officer
• Darline Scelzo as Chief Human Resources Officer
• Jason Kern as CEO Americas
• Philip La Pierre as CEO Europe

-ends-

About LaSalle Investment Management 

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

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

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announced the acquisition of two logistics facilities on behalf of LaSalle China Logistics Venture (“LCLV” or the “Fund”). LaSalle’s first dedicated China logistics vehicle, the Fund invests in modern logistics facilities in markets with strong fundamentals.

Purchased as a portfolio of two completed assets from an e-commerce retailer in China, the new additions add close to 139,273 square metres of modern Grade A logistics facilities to LCLV and are located in well-established logistics markets. The first is a Grade A warehouse located in Tianjin Wuqing, a satellite market of Beijing, which is 35 kilometres Beijing Daxing Airport and only 80 kilometres from Beijing city centre. It is an ideal hub for city and regional distribution in a market where high-grade properties command a premium.

The second facility newly acquired for LCLV is located in Suzhou Industrial Park, one of the largest national development zones in China and a model of successful industrial park development. It is close to the central business district of Suzhou, a hub of international trade and business, and is only 65 kilometres from Shanghai’s central business district. Future supply in the area is highly limited and demand continues to be robust.

Since closing in Q3 2020, portfolio occupancy has improved from 37% to 93%.

Together, these properties represent the eighth acquisition for LCLV. The Fund’s portfolio now spans key logistics regions in China, from prime Shanghai and Beijing markets to South China’s Greater Bay Area.

Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “The Covid-19 pandemic has underscored the importance of efficient distribution. As China leads the economic recovery in Asia Pacific into 2021 and beyond, LCLV is giving investors access to potentially attractive investment opportunities via quality logistics assets in China, where warehouse tenants increasingly show a preference for Grade A facilities.”

Claire Tang, Head of Greater China at LaSalle Investment Management, said: “These well-located facilities are an excellent fit for LCLV and highlight our ability to seize opportunities to expand our portfolio through the acquisition of high-quality assets. Modern logistics facilities have been a key investment focus for LaSalle, and the market fundamentals for China logistics remain compelling.”

LaSalle has a long track record in China logistics, completing more than US$2.1 billion of transactions since 2008. It debuted LCLV in 2019, completing the first close of the Fund in April 2020 with initial capital commitments of US$681 million and a diverse mix of investors from Europe, the Middle East, and Asia. LaSalle currently manages over US$4 billion of logistics investments across key markets in Asia, including China, Japan and Korea.

About LaSalle Investment Management 

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

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

LaSalle Investment Management (“LaSalle”) is pleased to announce it earned top scores on two industry-recognized global sustainability benchmarks for asset managers, underscoring its commitment to sustainability and measures to reduce carbon emissions.

Within the 2020 Global Real Estate Sustainability Benchmark (GRESB), six of the firm’s commingled funds, its listed REIT in Japan, and two separate account mandates in Europe have been recognized for sustainability performance. Across these nine submissions, the firm achieved one 5-star, five 4-Star and three 3-star GRESB Ratings. GRESB said its assessment structure fundamentally changed this year, with a new baseline for performance measurement, and that a comparison between absolute scores for 2020 and previous years was not meaningful.

LaSalle commingled products recognized within the 2020 GRESB include:

• LaSalle Canada Property Fund
• Encore+
• LaSalle Asia Opportunity Fund V
• LaSalle Logiport REIT
• LaSalle Property Fund
• LaSalle E-REGI
• JLL Income Property Trust

LaSalle also achieved very positive results on its 2020 United Nations ‘Principles for Responsible Investment’ (UN PRI) Assessment Report, including the addition of a new category for indirect property on behalf of LaSalle GPS with a perfect score and A+ rating.

LaSalle UN PRI Assessment Report results include:

• Strategy & Governance: A+ for a fifth straight year
• Listed Equity – Incorporation: A
• Listed Equity – Active Ownership: A, up from B the previous year
• Property: A+
• Indirect Property: A+

Jeff Jacobson, Global CEO at LaSalle said: “I am pleased to see our continued focus on sustainability being recognized by leading industry benchmarks like the GRESB and UN PRI ratings. We remain committed to becoming a more sustainable organization through our internal operations and across the portfolios we manage, while achieving superior investment performance for our clients.”

These recent achievements follow LaSalle’s announcement of their global commitment to the Urban Land Institute’s Greenprint Center for Building Performance Net Zero Carbon (“NZC”) Goal and becoming a signatory to the UK Better Buildings Partnership Climate Change Commitment, setting out LaSalle’s ambition for the European portfolio to achieve NZC by 2050 for both whole building operational carbon and embodied carbon.

About GRESB

GRESB is an industry-driven organization transforming the way capital markets assess the sustainability 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 sustainability issues has become the norm, with GRESB widely recognized as the global sustainability benchmark for real assets. For more information about GRESB and its sustainability benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.

About the PRI

The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of sustainability factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its sustainability benchmarking and reporting for real estate, please visit https://www.unpri.org/.

About LaSalle Investment Management 

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

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

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

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

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

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

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

About LaSalle Investment Management 

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

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

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announced the on-time completion of three new LaSalle Logiport logistics facilities in Greater Shanghai. With strong pre-leasing momentum indicative of a solid market for high-specification logistics facilities in the Shanghai region, the new Grade A facilities are an impressive addition to the LaSalle portfolio.

LaSalle Logiport Shanghai Qingpu is a 47,000-square-meter logistics facility situated in a prime location in the Qingpu Industrial Zone. Only 50 kilometres from Shanghai’s central business district, Qingpu district straddles key regional transportation routes and is a vital part of the Yangtze River Delta Economic Zone. The new two-storey double-ramped Logiport facility has been fully pre-leased to a leading global integrated express courier and logistics operator.

LaSalle Logiport Suzhou, located in Wangting International Logistics Park, is a state-of-the-art facility providing 51,000 square meters of logistics space in a two-storey double-ramped building completed at the end of September. It is close to Suzhou city, a hub of international trade and business, and 90 kilometres from Shanghai’s central business district. Eighty-two percent of the state-of-the-art facility has been pre-leased to a major retailer and e-commerce leader in China.

LaSalle Logiport Jiaxing is a two-storey double-ramped logistics facility located in Pinghu Logistics Park at Dushan Port. Serving Yangtze River Delta traffic and international maritime transport, the Park is also only 90 kilometres from Shanghai’s central business district. Completed at the end of September, the new Logiport hub has a total floor area of 96,000 square meters, fifty four percent of the facility has been pre-committed to one of China’s largest e-commerce logistics companies.

The three properties are new additions to the LaSalle Asia Opportunity Fund series, which invests in diversified real estate with a value-add investment strategy.

Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “The Covid-19 pandemic has underscored the importance of efficient distribution. As China leads the economic recovery in Asia Pacific into 2021 and beyond, LaSalle Logiport is giving high-calibre multinationals access to Grade A logistics facilities that support their ongoing growth. The timely completion and successful leasing of these well-located facilities highlight our ability to execute and deliver on China logistics investment opportunities.”

LaSalle has a long track record in China logistics, completing more than US$2.1 billion of transactions since 2008. LaSalle currently manages over US$4 billion of logistics investments across key markets in Asia, including China, Japan and Korea.

About LaSalle Investment Management 

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

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

LaSalle Investment Management (“LaSalle”) has announced the successful launch and investment momentum of its LaSalle Global Navigator Fund (“the Fund”), an open-ended relative value real estate investment vehicle advised by the firm’s indirect investment platform, LaSalle Global Partner Solutions (“LaSalle GPS”).

The Fund received founding capital commitments of US$320 million as of 30 September 2020, including US$25 million of co-investment capital from JLL, highlighting the firm’s broader conviction and alignment of interest. The Fund features a diversified in-place portfolio of investments across a range of investment vehicles in the US, Europe and Asia. The Fund recently completed an investment into a US medical office fund, as well as a UK student accommodation fund, highlighting its ability to strategically deploy capital during uneven market conditions. The Fund also has significant uncommitted capital to make focused investments that can capture fast-moving technological changes.

Catriona Allen, Fund Manager for LaSalle Global Navigator, said: “The launch and momentum of LaSalle Global Navigator reflects increasing demand from investors for access to global investment opportunities across the risk spectrum. The Fund aims to offer clients a compelling combination of attractive risk-adjusted returns, reliable cashflows with strong downside protection and robust liquidity. Our experienced global team has hit the ground running and we are looking forward to further growing the Fund and continuing to invest across a range of geographies, managers and underlying asset types.”

The LaSalle Global Navigator Fund seeks to provide investors with a one-stop solution for exposure to a diversified global portfolio featuring bespoke investment opportunities providing small and medium sized institutional investors the access, service and cost efficiency typically afforded to the largest institutional investors. The Fund has flexibility to invest across the “four quadrants” of real estate: private and public equity, and private and public debt, in each case seeking out the most attractive relative value.

The LaSalle Global Navigator Fund also invests globally, primarily in the major markets and cities of the world, maintaining a core plus risk tolerance, and investing through a range of vehicles including commingled funds, joint ventures, co-investments and listed securities. The Fund leverages LaSalle’s broad platform and network, which includes established relationships with over 100 local real estate operators, to source and underwrite investment opportunities. The team’s work is supported by LaSalle’s global research capability and follows the firm’s proprietary DTU+E (Demographic, Technology, Urbanization and Environment) methodology, investing thematically and with conviction.

Ed Casal, CEO of LaSalle GPS, said: “The LaSalle Global Navigator Fund is an important addition to the range of indirect investment products we offer our clients, meeting the growing demand for diversified exposure to global real estate markets through a one-stop solution. In particular, we’re seeing smaller and medium-sized investors, who want to increase allocations to the asset class but may not be able to build or support a global investment portfolio on their own.”

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

About LaSalle Investment Management 

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

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

LaSalle today announced its commitment to the Urban Land Institute’s Greenprint Center for Building Performance Net Zero Carbon (“NZC”) Goal to reduce landlord-controlled operational carbon emissions of LaSalle’s global portfolio of managed assets to net zero by the year 2050.

Since becoming a signatory to the UN Principles for Responsible Investment over 10 years ago, LaSalle has been working across our managed portfolio to improve the sustainability aspects of our assets. In 2017 LaSalle added Environmental Factors to its investment strategy, recognizing the importance of issues such as energy and water efficiency, climate change impacts and resilience, and increasing carbon regulations as long-term, secular demand drivers of real estate. Following this, in 2018 LaSalle became a member of UN Environment Programme Finance Initiative (“UNEP FI”) and helped shape the future of climate risk assessment reporting for the industry by taking part in a two-year Task Force on Climate-related Financial Disclosures (“TCFD”) pilot project.

The success of this sustainability integration has seen the business refocus its sustainability program, using this positive momentum to create a global carbon strategy to achieve NZC alongside other important sustainability goals.

Jeff Jacobson, CEO for LaSalle Investment Management said, “At LaSalle we’re committed to doing right by our clients, our people and our planet. When we invest in sustainability best practices, we are enhancing the performance of our clients’ investments, and bettering the communities we live, work and invest in. We are proud to stand with the ULI Greenprint Center for Building Performance on net zero carbon ambitions and commit to this industry goal, and look forward to creating positive, powerful change.”

The ULI Greenprint net zero carbon goal is designed to meaningfully reduce the built environment’s impact on climate change beyond existing efforts. It encourages portfolio-wide carbon reductions via deep energy efficiency improvements, on-site renewable energy, green utility power and building electrification, off-site renewables, renewable energy credits and, as a last resort, carbon offsets. The goal is in line with the Paris Agreement and findings from the Intergovernmental Panel on Climate Change (IPCC) report to limit global warming to 1.5⁰ C.

LaSalle’s increased commitment can further be seen in Europe where the firm is advancing a step beyond the ULI goal as a signatory to the UK Better Buildings Partnership Climate Change Commitment, setting out LaSalle’s ambition for our European portfolio to achieve NZC by 2050 for both whole building operational carbon and embodied carbon. 

Additionally, LaSalle has received recognition for its ongoing commitment sustainability practices across its product platform globally, highlighted here: LaSalle Improves 2019 GRESB Performance and United Nations ‘Principles for Responsible Investment’ Assessments

About LaSalle Investment Management 

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

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

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

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

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

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

About LaSalle Investment Management 

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

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

LaSalle is pleased to announce the first close for LaSalle Real Estate Debt Strategies IV (“LREDS IV”), the fourth fund in its flagship LaSalle Real Estate Debt Strategies series (“LREDS”), with €435 million of aggregate commitments. This strong first close puts the Fund on target for achieving a capital raise of €1 billion.

The commitments, originating from both existing and new clients to the LREDS series, come from a broad range of pension funds and insurance companies across Europe and Asia.

LREDS IV’s investment strategy focuses on mezzanine debt investments secured on real estate across Western Europe with a focus on Germany, Netherlands, UK, France and Spain offering compelling risk-adjusted returns with downside protection and high cash-on-cash yields.

In addition to mezzanine debt investments, LREDS IV offers whole loans, capex and development financing solutions. LaSalle’s European Debt & Special Situations platform has been investing across both the traditional asset classes such as office, logistics and residential, as well as alternative asset classes such as student housing and self-storage.

The Debt Investments & Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers, and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the platform has committed €3.4 billion to investments across 78 individual transactions.

Amy Klein Aznar, Head of Debt & Special Situations for LaSalle Investment Management, added: “I am delighted with the launch of the latest fund in our flagship LREDS series, where we have an exceptionally strong track record over the last decade. The team has already completed several debt investments this year, working with strong sponsors and senior banking partners across Europe, which has reinforced our position as a leading debt provider in the market.”

The launch of LREDS IV is also complementary to other funds within LaSalle’s European Debt & Special Situations platform which offers wide ranging financing solutions. This includes the €900 million LaSalle Whole Loan Strategies offering whole loans across Western Europe, the €1.5 billion LaSalle Residential Finance series offering residential, student housing, hotel, and healthcare development lending, and the £225 million Special Situations Venture which invests alongside sponsors via inter alia preferred equity, joint-venture equity, higher leverage mezzanine.

About LaSalle Investment Management 

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

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

LaSalle Investment Management (“LaSalle”), today announces that Philip La Pierre has been appointed to the role of CEO of Europe, with effect from 1st October. He will oversee all operations and strategies across Europe.

As a member of LaSalle’s senior team in Europe, Mr. La Pierre has served as Head and CIO of Continental Europe for the firm since joining in June 2018. Based in London, he will report directly into Jeff Jacobson, LaSalle’s Global CEO. In his new role, Mr. La Pierre will have overall responsibility for LaSalle’s $23 billion AUM pan-European real estate business and will join LaSalle’s Global Management Committee.

During Mr. La Pierre’s leadership, LaSalle’s Continental Europe business has seen strong growth, having overseen growth of the region’s AUM by 30 per cent to $10.3 billion and registering over $4 billion of transactions since he joined in June 2018 to date.

A German national with 20 years of experience in real estate and having overseen over €10 billion of global real estate investments, Mr. La Pierre has built up a distinguished reputation in the German and broader European real estate market. Prior to LaSalle, he was Co-Chief Investment Officer at Corestate Capital. Before this, he spent eight years at Union Investment Real Estate in various leadership roles, including the Head of Investment Management Europe and later becoming the Global Head covering the Americas and APAC Region. 

Mr. La Pierre’s appointment follows his predecessor, Karen Brennan, being appointed as Jones Lang LaSalle Incorporated’s Chief Financial Officer. JLL is the parent company of LaSalle Investment Management.

Jeff Jacobson, Global CEO at LaSalle, said: “Philip has already played a key role in our success in Europe and I am confident that he will help us to strengthen our position as one of the region’s leading real estate investment managers. This is a pivotal moment for our firm and for our sector, and we are very fortunate to have someone with Philip’s talent, knowledge and experience leading us in Europe at this time.”

Philip La Pierre, CEO of Europe at LaSalle, commented: “It is a privilege to be the next leader of our European business. Given the strong foundations which have been set across the region, I look forward to continuing to work closely with Jeff and the regional leadership team to generate superior investment performance on behalf of our clients, drive the long-term growth of our business, and advance our global position.”

About LaSalle Investment Management 

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

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

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

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

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

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

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

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

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

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

About LaSalle Investment Management 

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

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

Economies around the world have been damaged more severely than any peacetime event since World War II. Although none of us predicted a pandemic, it took this kind of tail-risk event to derail the Asia-Pacific region, the fastest growing region in the world. However, the combination of high levels of trust in Asia Pacific governments, an earlier start to the downturn and recovery, unprecedented monetary and fiscal stimulus packages, and the region’s important role in global supply chains, especially China lends resilience to the region. These macro factors, combined with high-frequency indicators, shed light upon our outlook for Asia Pacific economies and real estate markets, despite the uncertain duration of the pandemic, according to LaSalle’s mid-year Investment Strategy Annual (ISA) report.

LaSalle clients can view the full report at: https://www.lasalle.com/research/reports/2020-isa-mid-year-update 

Asia Pacific is likely to come out of the pandemic ahead of other regions due to the relative success of their public health policies. Nonetheless, like other regions, we expect to see setbacks caused by new outbreaks from time to time. LaSalle’s relative ranking of major Asia Pacific economies post COVID-19 recovery has China leading, followed by Japan, South Korea, Singapore, Australia and Hong Kong. Looking forward, larger the domestic economy, the stronger the pace of the country’s recovery is expected to be, with China, Japan and South Korea driving the recovery.

The pandemic accelerated existing trends that we have been following for many years in Asia Pacific, as well as several incipient trends, including: the rise of logistics, the demise of brick-and-mortar retailers, the market segmentation of residential properties (luxury, urban high-rise, mid-rise suburban, workforce, active adult, etc.), the mainstreaming of alternative or niche sectors, and the rising importance of technology as a driver for many real estate decisions. We continue to favour the logistics sector in the region. Looking forward we believe that professionally managed rental apartments present an interesting opportunity to consider in several Asia Pacific countries. With the exception of Japan, the apartment sector is not institutionalised in most parts of the region and it could be attractive to offer better amenities for residents and enable them to work from home in a better environment.

Jacques Gordon, Global Head of Research & Strategy at LaSalle Investment Management said, “The COVID-19 crisis and the ensuing global recession emphasize important lessons about portfolio construction. Property types respond very differently to global macro events, and their financial characteristics are affected by interest rate regimes, pandemics, or technology trends, which don’t respect national borders. This means that the performance of the principal property types is more dispersed than we have ever seen. During the cap rate compression era, all the main property types tended to converge in terms of performance. Now, in this downturn, the different risk-return characteristics of each property type come to the fore.

We believe that the key to making good investment decisions during a period of radical uncertainty is to avoid letting “recency bias” control your thought process. In other words, looking through and ahead of a crisis, like the current pandemic, will be important in order to survive and thrive. We believe all investors and indeed, societies-at-large, face the challenge to look beyond the darkest hour. Real estate, because it serves all industries and all segments of society, must pay especially close attention to the difference between temporary and permanent changes”.

Elysia Tse, Head of Research & Strategy for Asia Pacific at LaSalle Investment Management said, “Throughout the pandemic, real estate capital markets in Asia Pacific have generally been stable. Most investors are taking a wait-and-see view on new investments and focusing on existing portfolios. We have not seen substantial pricing discounts in Asia Pacific, despite the fact that we are in the worst recession of decades.

The biggest unknown lies in the outlook for property cash flows and Net Operating Income (NOI). If resurgences of infections get much worse than today or last much longer than anticipated, NOI could deteriorate further than anticipated—pricing movements could be partly driven by anticipation. Furthermore, the increase in capital market volatility is expected to drive flight-to-safety, keeping cap rates of core assets low. This trend is projected to widen the pricing differences between assets with secured cash flows and those without them. LaSalle’s logistics sector strategy in Asia Pacific has worked out well for us going into this pandemic. The logistics sector, although not immune to the impact of the COVID-19 pandemic, has been a relative winner of this global demand shock. In sum, the COVID-19 pandemic presents risks, but also potential opportunities in Asia Pacific, as investment managers play the arbitrage between the “haves” and the “have nots”.

About LaSalle Investment Management 

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

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

While robust fiscal and monetary policy support has helped mitigate the economic impact of the pandemic in North America thus far, the performance of property markets and asset classes across the U.S. and Canada over the near- and long-term will vary significantly. These variances will be attributed to divergent health policies, consumer behavior around disease mitigation strategies and shifting lifestyle preferences. Despite these uncertainties, real estate remains a shock absorber against economic volatility, and the benefits of real estate for portfolio diversification and risk management have shone through amid the turmoil.

LaSalle clients can view the full report at: https://www.lasalle.com/research/reports/2020-isa-mid-year-update 

Heading into the pandemic, the U.S. and Canadian economies, and most of each country’s major real estate markets, were in a period of remarkable stability, characterized by low unemployment and vacancy rates, moderate value increases for most of the primary property types, and balanced supply and demand. These factors should support both countries as they navigate the crisis, despite near-term volatility and risks. While unemployment rates have risen sharply, they started at an all-time low. Moreover, the vast majority of unemployment spikes resulted from furloughs in impacted sectors such as travel and retail, and the expectation is that many of these jobs will return once circumstances stabilize. This does not eliminate the immediate impacts of high unemployment on individuals or the economy. However, the U.S. and Canadian labor markets are more fluid than others with higher levels of metro-to-metro migration, which should support the recovery.

Macro Perspective

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “The ways that policy, geography, climate and human behavior interact with the diversity of regional economic drivers will determine the relative performance across markets and global real estate portfolios. In the near-term, leaders will be locations that appeal to technology, life sciences, and a noticeable improvement in migration to sunbelt markets. Laggards will be metros with high levels of new infections, and markets with the greatest exposure to tourism and energy. As we move into a post-COVID-19 world, we see a different set of drivers being critical to economic and real estate performance. When the dust settles on 2020, we expect that real estate will remain an important contributor to the performance of an investment portfolio through its income-generating ability and the different path it tends to take during up and down economic and capital market cycles.”

As it relates to investment strategies, opportunities exist for both real estate securities and indirect investors to capitalize on the wide gaps between public and private real estate valuations. Likewise, specialized debt investors can benefit from a less crowded competitive landscape and wider debt spreads. For core investors, inflection points and recessions can generate attractive entry points for long-term strategies.

The near-term relative performance across property types is reflected in the level of vacancy entering the downturn. Industrial and multifamily properties were well occupied and positioned strongly prior to the downturn, suggesting a near-term rise in vacancies followed by a quick recovery. Office had only moderate demand with higher vacancy rates, at levels just below the sector’s long-term average, which aligns with LaSalle’s forecast for a volatile downturn and slow recovery. Retail had been suffering from eroding brick-and-mortar sales and over-leverage, which may compound near-term weakness across retail segments and tip some properties into distress.

U.S. Trends

Rich Kleinman, Co-CIO, Americas & Head of U.S. Research and Strategy for LaSalle, said: “At this point in the pandemic recovery, there is limited visibility on real estate pricing, and only marginally more on the direction of capital flows. Transaction volumes have fallen sharply in the U.S. since March, and properties trading are those with the strongest buyer interest with limited value declines from pre-COVID-19 pricing. To determine where the market might be heading, we are focused on which pools of capital are active, what they are likely to target, and where capital seems to be lacking. As transaction activity picks up in the second half of the year, the market disruption should create opportunities for investors to fill the capital market gaps and take advantage of pricing shifts.”

The lack of visibility into pricing has made research, data and technology even more critical to informing investment decisions during the pandemic. In addition to leveraging information technology firms and health authorities have provided to the general public, other tools can be useful in assessing the pandemic’s impact on real estate. LaSalle is incorporating data from the Blavatnik School of Government at Oxford University, which tracks policies such as school closure, travel bans and other lockdown measures, and combines it with fiscal and monetary interventions – all of which can be leading indicators for the economy and risk asset markets. Moreover, the firm is analyzing hyperlocal mobile data from Safegraph, Google, Apple and health agencies to monitor the spread of COVID-19 and estimate how people are altering their social distancing behavior. This helps to track hot spots, predicting which markets may see deeper and longer lasting effects of the virus. Finally, keeping track of the aggregate movement of people and vehicles highlights the economic activities that are prioritized and the rate at which other economic activities recover, as well as geographic disparity in such activity.

The data efforts LaSalle has put in place in prior years have turned out to be very valuable for identifying potential trouble spots. These studies accentuate the importance of high-frequency data in our industry and the uses to which this data can be put to underwrite and manage real estate assets.

Canadian Outlook

Like many other countries, the Canadian government implemented robust fiscal and monetary policy support to help mitigate the economic impact of the pandemic. Nearly CAD $255 billion was approved at the federal level, or roughly 12% of GDP. If future stimulus is needed, the Canadian government appears more willing to extend unemployment benefits if needed. The Bank of Canada also quickly cut its Policy Rate to 0.25% and initiated bond buying for the first time in its history. This support has enabled lending to resume and provides many businesses with the footing needed to survive until the recovery and the capacity to expand when that recovery starts.

Chris Langstaff, Head of Research and Strategy in Canada for LaSalle said: “In Canada, office demand was strong in most markets, with the exception of Calgary and Edmonton, which have been weak since the 2014-15 oil price downturn. Industrial properties were near record low levels of availability, a key reason we expect the severity of this downturn to be less for industrial than past recessions. Apartments were also in a strong position with relatively low vacancy and a balanced supply and demand, but both at strong levels. This suggests the near-term will see rising vacancy and falling rents, but a quick recovery as new supply slows and the previous demand trends resume.”

About LaSalle Investment Management 

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

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

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

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

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

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

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

About LaSalle Investment Management 

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

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

The COVID-19 crisis has created unprecedented dispersion in the performance of the different types of principal real estate assets, primarily by accelerating pre-existing trends affecting European property markets, according to the 2020 Mid-Year Investment Strategy Annual (“Mid-Year ISA”) published by LaSalle Investment Management (“LaSalle”), the global real estate investment manager. While global transaction volumes fell sharply in H1 2020, long-standing factors such as the rise of logistics, the decline of apparel retailers and the mainstreaming of alternative sectors continued to drive real estate investment flows in the first half of the year

LaSalle clients can view the full report at: https://www.lasalle.com/research/reports/2020-isa-mid-year-update 

The report’s findings included:

• Retail: COVID-19 has compounded structural challenges facing the sector, such as the growth of e-commerce and changing consumer behaviour. These trends were already most progressed in the UK and, from January to April, online retail sales grew 30% year on year, while total retail sales declined 23%, increasing the share of online retail spend, or e-commerce penetration rate, to a record 31%. Consequently, LaSalle expects average UK retail property value, having fallen c.12% since 2018, to drop by another 20-30% in 2020. Other European markets are following: German online retail sales increased by 24% in April against an overall decline of 6%, albeit with online penetration of only 12%. Nonetheless, non-discretionary, grocer-anchored, open-air shopping centres remain well-positioned.

• Logistics: Conversely, the structural shift to online retail, magnified by the pandemic, is a driver of demand for European distribution and fulfilment centres. Across different markets, LaSalle predicts e-commerce penetration to increase by 5%-15% from pre-coronavirus levels. Logistics assets have also benefited from emergency supply chain reorganisation, onshoring and the trend of maintaining higher inventory levels. However, physical retailers account for approximately one third of demand for European logistics, a figure set to diminish. There also remains an oversupply of motorway logistics assets exposed to technological advances such as autonomous vehicles and 3D printing.

• Office: European office markets have been subject to the only pronounced reversal of a pre-existing trend, with patterns of migration towards large cities and rising population density receding during, and probably after, the pandemic. Financial, professional services and technology companies’ ability to work remotely has sustained income streams, with rent collection rates of over 80% for class-A offices globally. However, a combination of a global recession and higher rates of work from home, threaten medium-term demand. However, this should be partially mitigated by reduced workplace density; the long-standing undersupply of Europe’s largest office markets; and tenants seeking refurbished premises that enhance health and safety. Meanwhile, flexible offices have experienced short-term falls in cashflow but should benefit from increased demand in the longer term.

• Residential and alternatives: Despite its relative immaturity from an institutional investor perspective, Europe’s residential property market has been the most resilient sector, with institutional-quality assets collecting more than 90% of rent globally. Residential properties have directly benefited from wage subsidy schemes and experienced increased short-term demand driven by lockdown-enforced illiquidity in house-buying markets. While the long-term robustness of their income streams will be tested through the impending economic contraction, index-linked ‘long-income’ assets have also proven highly resilient. The strong returns on offer from rental housing compared to investment-grade bonds, which are likely to continue record-low yields, have begun to attract interest from a wider array of investors. Within other alternatives, healthcare’s emergence as a mainstream sector has accelerated. Meanwhile, hotels and student accommodation have been adversely affected – with the latter facing a longer-term trade-off between its traditional countercyclical appeal during recession and the possible decline in overseas student numbers.

Jacques Gordon, Global Head of Research and Strategy at LaSalle Investment Management, said: “Despite the considerable uncertainty that has unfolded in the past six months, many of our previous strategic recommendations are holding true globally. We have consistently advocated increased exposure to logistics and advised that retail investments are concentrated in open-air assets, which have navigated the crisis better than enclosed malls. We believe that human capital will continue to thrive by returning to safe and secure offices throughout metropolitan areas, once work from home guidance is lifted. Our approach of limiting exposure to co-working operators as tenants but building out a proprietary flexible office offering has proven to be sound advice. Persistent income streams throughout the crisis have demonstrated the resilience of many office assets class globally. As economies reopen, there is an opportunity for investors to focus on the fundamentals and secular trends of demographics, technology and a more cautious approach to urban density.”

Simon Marx, Director of UK Research at LaSalle Investment Management, said: “The different risk-return characteristics of each property type come to the fore in a downturn and we have been encouraged by the resilience of our preferred strategies in Europe. Despite market illiquidity continuing to constrain deal flow, we see a range of sectors offering compelling investment opportunities, both in the UK and on the continent, in the latter half of the year. In the UK, long-income assets, such as ground leases and income strips, remain highly attractive relative to investment-grade bonds and offer a partial hedge to the risk of inflation in the medium term.” 

About LaSalle Investment

Petra Blazkova, Director of Continental European Research, said: “On the continent, urban logistics, residential assets and even office properties offering secure income in markets with strong occupier fundamentals can be a high-quality defensive or income-generating addition to a portfolio. Meanwhile, throughout Europe, real estate debt strategies such as whole loans, mezzanine debt, development finance and other special situations can provide exposure to attractive supply-demand dynamics across the risk-return spectrum.”

About LaSalle Investment Management 

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

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