LaSalle Income & Growth Fund VII Attracts Major Investment From Asian Institutional Investors
HONG KONG (May 25, 2017) — Institutional investors from Korea and Japan are, for the first time, investing in LaSalle Investment Management’s latest U.S. value-add real estate fund, LaSalle Income & Growth Fund VII (the “Fund”). Korea Teachers Pension has committed US$50 million to the global real estate investment manager’s U.S. flagship value-add, closed-end real estate fund series, alongside a Japanese institutional investor.
JB Park, Head of Client Capital Group, Korea, LaSalle Investment Management, remarked: “We have a strong track record working with Korean institutional investors who have, over the last four years, committed over US$2 billion equity to a number of LaSalle’s vehicles globally. We increasingly see them move up the risk curve and diversify their real estate portfolios into more value-add and opportunistic strategies. With our deep understanding of the U.S. market and long experience in this strategy, I believe the Fund is well placed to meet the demand from Asian institutional investors seeking for higher risk and stronger return generating assets.”
The Fund, which is available to institutional investors in Asia, follows its predecessors’ value-add strategy, through its approach to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. Property-level investment strategies include lease-up, renovation/repositioning and ground-up development across the office, retail, industrial and multifamily residential market segments throughout the US.
Jason Kern LaSalle Americas CEO, said: “The Income & Growth fund series offers investors a unique level of expertise through LaSalle’s established value-add platform, which boasts a 20-year track record of strong relative performance as an equity fund with operating capability. Having direct oversight of the value-add initiatives across the portfolio enables us to apply detailed operating knowledge across markets, while reducing double fees and retaining leasing and management partners best suited for each asset in the Fund. We feel confident that our platform is well-positioned to continue to deliver strong investment performance for current and future investors seeking value-add returns in U.S. real estate.”
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.