LaSalle raises €600 million for new Whole Loan lending platform
LONDON (May 08, 2019) — LaSalle is pleased to announce the launch of the LaSalle Whole Loan Strategies programme by its Debt & Special Situations team. This is a €600 million programme focused on originating whole loans secured against real estate in Western Europe and the Nordics. The programme’s strategy is to originate and hold whole loans with loan-to-values ranging from 70 per cent up to c.80 per cent across various asset types. The strategy targets financings between €25 million and €100 million plus.
This is the latest programme from LaSalle’s market leading Debt Investments & Special Situations platform. The addition of this product further enhances LaSalle’s ability to provide financing solutions across the capital stack, including whole loans, mezzanine, development financing, and stretched senior loans.
The strategy’s first investment is a €37 million transaction to finance the aggregation of a high-quality portfolio of last mile logistics assets located mostly around Paris, France. The financing provided the sponsor the flexibility to match its business plan to acquire the assets in batches differentiating it from a traditional senior and mezzanine financing solution. Follow-up investments include a €36m whole loan to finance a fully let distribution centre in Belgium and an office asset in Ireland.
Ali Imraan, Managing Director, Debt & Special Situations, said: “I am delighted to launch the LaSalle Whole Loan Strategies. We have seen an increasing number of borrowers seeking flexible financing solutions for assets by combing senior and mezzanine loans through the efficiency of whole loans. This new programme will allow us to provide borrowers with a truly one-stop financing solution, greatly reducing their execution risk. It is also more efficient compared to a traditional senior and mezzanine solution, particularly for smaller deals.
“While geographically the strategy targets opportunities all across Western Europe, there is an initial focus on France, Benelux, Iberia, and Ireland.”
LaSalle’s Debt Investments & Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers, and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has committed €3.2 billion of investments across 66 individual transactions.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $68.4 billion of assets in private and public real estate property and debt investments as of Q1 2019. 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. For more information please visit http://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.