LaSalle Awarded New $575 Million Mandate to Invest in U.S. Industrial Development
October 21, 2014 - LaSalle Investment Management, a leading global real estate investment manager, today announced it has been awarded a mandate with gross investment capacity of approximately $575m to invest in U.S. industrial development on behalf of a large U.S. public pension fund, a long-time LaSalle client.
Jason Kern, Americas CEO, LaSalle, said: "End-user demand for industrial real estate is very strong right now, driven by growing GDP and global trade and the need for modern buildings that are part of an efficient supply chain. LaSalle’s deep knowledge and experience investing in and developing industrial real estate ensure that our team is uniquely positioned to help our client achieve its investment goals." Julie Manning, Portfolio Manager, LaSalle, said: "LaSalle will focus on investment opportunities to develop and lease large, modern distribution buildings in major population centers with strong transportation infrastructure. The investment strategy will enable LaSalle to assemble a U.S. warehouse portfolio on behalf of our client in primary distribution markets to own long-term." According to LaSalle’s Research & Strategy team, the availability rate for industrial supply has fallen by 2.2 percent since the fourth quarter of 2012 and 4.2 percent since 2010. In addition, rent growth is projected to increase nationally over 3 percent annually, with higher forecast rental growth in top markets as compared to long-term averages. The increasing popularity of internet retailing and a focus on improving supply-chain efficiencies by larger multinational retailers is also positively impacting demand for industrial real estate.
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.