LaSalle Acquires Prime Office Complex in Central Tokyo

February 11, 2015 – LaSalle Investment Management today announces that it has acquired Meguro Gajoen, a mixed-use complex comprised of the Arco Tower, the Arco Tower Annex, the Meguro Gajoen banquet hall & hotel, and the Arco Square properties in central Tokyo.

LaSalle acquired the asset through a joint venture with a global sovereign wealth fund. Meguro Gajoen has a total gross building area of 155,820 sqm. The office complex has a strong tenant profile and is currently 99.7% occupied. Overall, the property is an excellent investment opportunity for core investors seeking stable income streams on the back of potential rental growth in Tokyo office market.            

Nick Okumura, Head of Acquisitions, Japan, commented, “The market continues to be very active in core investing in Tokyo, but it has proved challenging for investors to get access to prime, core office real estate. Therefore, we are extremely pleased to acquire Meguro Gajoen in the current environment.”

Mark Gabbay, LaSalle Co-Head and CIO for Asia Pacific, added, “LaSalle maintains a balanced investment strategy in Japan, investing across different asset types and risk profiles, and Meguro Gajoen is an excellent addition to our core portfolio in Asia.”

As of September 30, 2014, LaSalle has more than US$5.3 billion of assets under management in Asia Pacific across various asset types.

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 $71 billion of assets in private equity, debt and public real estate investments as of Q4 2020. 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.