LaSalle closes £120M UK PRS residential fund
LONDON December 15, 2015 – LaSalle has closed its first UK PRS Residential Fund with an aggregate £120 million of capital committed.
LaSalle is currently focusing on the residential build-to-rent market, and expects to invest in excess of £500m in the sector within the next few years on behalf of its institutional clients, through the Fund and other investment vehicles. Managed by LaSalle’s highly experienced residential team, the LaSalle UK PRS Residential Fund aims to create a diversified national portfolio of residential market rental properties with a mix of income producing and new-build assets focused on providing excellent levels of customer service.
Andrew Stanford, UK Residential Fund Manager, LaSalle Investment Management commented: “We expect continued strong demand in the residential private rented sector (“PRS”). Growing demographic pressure and a shortage of supply is driving housing requirements and we expect significant growth. Returns in UK PRS compare favourably with core commercial real estate.”
Alan Tripp, Head of UK, LaSalle Investment Management, added: “The LaSalle UK Residential PRS Fund reflects our strategy of focusing on high quality residential stock. The sector is expected to become an integral part of institutional investors’ portfolios and holds a significant focus for LaSalle in the next few years - our long term ambition is for 10-15% of UK assets under management to be allocated to the build to rent sector.”
LaSalle has been investing in the UK residential markets since 1999 and currently has around $5 billion of residential assets under management globally on behalf of long-term institutional investors.
 Within the European Economic Area (EEA), the LaSalle UK PRS Residential Fund is only available to professional investors in EEA member states where marketing has been registered or authorised in accordance with local requirements. A full list of the relevant EEA member states is available from LaSalle on request.
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60 billion as of Q1 2018 of private and public equity and private debt investments. 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. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
This information is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for 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 by means of a private placement memorandum. Past performance is not indicative of future results.