LaSalle Investment Management announces acquisition for LaSalle Income & Growth Fund VI
14 July 2014 - LaSalle Investment Management has announced the acquisition of the 21-building, 1.2-million-square-foot Precedent Office Park in the Keystone Crossing submarket of Indianapolis.This is the Fund’s first acquisition in Indianapolis.
Precedent Office Park is comprised of a mix of mid-rise, two-story and single-story office properties in a park-like setting in a central location within a half-hour drive from virtually every destination in the greater Indianapolis area. Amenities within the park include a 6,000 square foot fitness facility, a mile-long walking trail around a 38-acre lake, a national day care provider, a full-service conference facility and multiple restaurants and banks. The Keystone submarket is also home to Simon Property Group’s Fashion Mall anchored by Saks Fifth Avenue and Nordstrom along with some 55 restaurant options and multiple hotel choices. The complex is currently 94 percent occupied by tenants including Zurich Insurance, Rockwell Automation, Honeywell, M & J Insurance, WebMD, Defender Security and Stonegate Mortgage.
“Indianapolis has a stable, diversified and rapidly growing economy with strong population and job growth,” said Jim Hutchinson, President of the LaSalle Income & Growth Funds. “Tenants are attracted to the location and amenities of the Keystone submarket. We believe that our ability to offer tenants diverse and flexible space options within the park will aid us in our leasing efforts. The property will generate a strong income return for our investors.”
The LaSalle Income & Growth series is the firm’s flagship U.S. value-added fund series that was launched in 1996. The Funds seek to achieve value add returns by investing in a portfolio of U.S. income producing real estate and enhancing returns through property leasing, repositioning and aggressive asset management. Fund targets value-add real estate opportunities in the US across the office, retail, industrial and multifamily residential sectors.
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 Q1 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.