Kennedytoren is located in the centre of Eindhoven, directly adjacent to the main railway and bus st

LUXEMBOURG (January 09, 2017) — LaSalle and Aviva Investors continue their recent momentum with the acquisition of the office building Gravity in Luxembourg, on behalf of the Pan-European Fund, Encore+. This is the first acquisition for Encore+ in Luxembourg.

Gravity is a modern and flexible office building, comprising approximately 12,500 square metres of lettable floor space, situated over six floors. It is located in the Kirchberg district of Luxembourg, which is strategically located between the Central Business District and the airport. It is positioned in a well-established office location, benefiting from good public transport which connects Kirchberg to the airport and to the Luxembourg train station by bus, car and a new tramway which is set to open between 2017 and 2021.

The property is occupied by Commerzbank and Julius Baer, while Commerzbank is also the vendor of the building.

Encore+ has a successful 10+ year track record as a diversified, open-ended Continental European real estate fund which aims to deliver stable and growing income alongside long-term capital appreciation, from an actively-managed portfolio. It was recently, for the second time, ranked by MSCI as the top performing fund on a three-year rolling basis in the IPD Pan-European Property Funds Balanced Funds Index (PEFPI). The three-year return for the Fund is more than 9% (as at 30 September 2016). The Fund is co-managed by Aviva Investors as Fund Manager and LaSalle Investment Management as Asset and Transaction Manager.

Jeffrey King, Fund Manager for Encore+ at Aviva Investors, said: “We are delighted as Encore+ continues to grow its portfolio in Continental Europe with its first acquisition in Luxembourg. The acquisition fits well with our strategy of investing in quality assets in attractive and sustainable European locations, and strengthens the geographic diversification of the portfolio.”

Ian Williamson, Portfolio Manager for Encore+ at LaSalle Investment Management, said: “Gravity demonstrates our excellent track record for quality acquisitions with above target forecast performance. It highlights our investment themes of investing in well-leased modern properties in core city locations at attractive pricing.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $64 billion of assets in private and public real estate property and debt investments as of Q4 2018. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.

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

Media Contacts