UK Investment Opportunities
Throughout the UK, LaSalle offers a number of innovative products across a variety of separate account mandates and alternative strategies.
LaSalle has been investing in UK direct property on behalf of pension funds and other institutional investors for almost 40 years. With a team of 172, our primary focus is managing UK separate accounts on behalf of UK pension funds, and we are committed to providing our clients with new and innovative ways of accessing real estate to meet their ever-changing needs. We take pride in nurturing long-term client relationships built on trust and consistent outperformance.
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Throughout the UK, LaSalle offers a number of innovative products across a variety of separate account mandates and alternative strategies.
LaSalle’s experience in the UK extends to managing separate account mandates with bespoke return strategies.
The building is a modern, purpose-built, privately-run NHS Treatment Centre in Bristol. It has been let to Care UK for 30 years from acquisition, with annual RPI-linked rent reviews.
2 London Bridge is a strategically located, freehold modern office building with outstanding river views and transportation links. The building offered immediate active management opportunities due to its flexible floor plates let on short leases with low passing rents.
Sunley House is a freehold 1960’s building located in a prominent location in Croydon with excellent transportation links. The property offered an opportunity to supply good quality budget space into a market increasingly starved of supply.
Livingston Designer Outlet is a retail opportunity strategically placed between Edinburgh and Glasgow in Livingston town center, one of the major retail destinations in Scotland. The designer outlet provides a diverse mix of national and international brands with a bias towards fashion, sportswear and hospitality trade.
60 London Wall offers an unrivalled opportunity to take advantage of the cutting edge design, core location and first class connectivity being minutes from key underground and mainline stations in the City. The property is currently under significant refurbishment and expansion to create Grade A accommodation with an anticipated completion in 2020.
LaSalle’s Real Estate Debt platform provides tailor-made solutions to clients seeking to invest in whole loan and mezzanine financing, development financing, capital expenditure funding and loan acquisition funding across Europe. Since 2010 the team has made investments totaling more than £2.2 billion.
Our Special Situations team devises strategies to provide investment across the capital structure taking advantage of market opportunities and dislocations.
Finsbury Park, London
City North is a multi-purpose development in an urban regeneration area located at the crossroads of the three London boroughs – Hackney, Haringey and Islington. The development comprises of 355 residential apartments and a large commercial space. LaSalle Residential Fund provided a £110 million whole loan facility to finance a complex 355 unit residential development in Finsbury Park, North London.
UK Private Rented Sector is a focused strategy seeking to invest in modern, high-quality multi-unit residential opportunities, that take advantage of strong underlying macro fundamentals. This strategy provides sustainable, long-term returns with a strong inflation correlation, high capital preservation and income diversification characteristics.
Canning Town, London
Rathbone East offers 87 x 1 and 2 bedroom modern, cost-effective apartments for rent located in Canning Town, East London. Designed by Orange architects this award winning scheme has a number of sports (the Olympic park), cultural (O2) and retail (Westfield Stratford) venues on its door step.
Our global indirect investment team works closely with our UK Separate Accounts and can supplement a UK direct real estate strategy to achieve diversification into alternative sectors or access large lot sizes or broader geographies. Clients benefit from access to a global set of opportunities, including co-investments, joint ventures, LaSalle funds and other third-party specialist funds. The team also works with clients and the wider LaSalle teams on transition strategies as a client strategy evolves.
Julian Agnew is the Chief Investment Officer of LaSalle UK and is responsible for strategic investment across the country. He acts as a contact point between Research & Strategy and the Fund Managers, working closely with the former to identify themes and trends across the UK property investment markets, while working with the fund managers to help shape and position portfolios appropriately to deliver outperformance within the context of each mandate’s individual risk-return requirements. He identifies key initiatives and assists in preparation of the fund strategy to lead house tilts in geography and sector weightings. Julian has served as a member of the Investment Committee since 2006 and is also a member of the LaSalle UK and European Management Boards.
He joined Jones Lang Wootton Fund Management in 1988, having previously worked for two commercial surveying practices and commercial letting investment advisory firm. He was made a Partner of Jones Lang Wootton in 1995, and was promoted to International Director in 2011. His areas of expertise include taking on portfolios which either have structural risks or have underperformed their benchmarks, implementing both transactional changes and exploiting opportunities to add value throughout the investment process. In addition he has extensive experience in transitioning portfolios from Return Seeking Assets to Matching Assets whilst maintaining performance and offsetting risks.
Julian is a Member of the Royal Institution of Chartered Surveyors and is registered and an Authorised Person by the FCA to conduct investment management activity.
Amy Klein Aznar is the Head of Debt Investment and Special Situations team at LaSalle Investment Management and responsible for LaSalle’s market leading European debt platform. She is responsible for LaSalle Real Estate Debt Strategies II & III (£1.4bn in committed capital), LaSalle Residential Finance I - III (£846m in committed capital), LaSalle Whole Loan Strategies (€600m committed capital) and LaSalle UK Special Situations Fund and is on LaSalle’s European and UK Management Boards and chairs LaSalle's European Diversity Board. Amy re-joined LaSalle in 2008 and has spent more than 15 years at LaSalle/JLL.
Amy has a 20+ year track record of working in real estate principal investment, advisory and investment banking. During her time at LaSalle, Amy has raised over $4.4bn of capital commitments across the debt and special situations platform and completed over $3.4bn of debt and structured equity investments in 67 transactions since 2012. Her real estate debt investments include over £900m in mezzanine loans and £1.7bn in whole loans, including c. £900m in development lending. Amy has a solid performance track record across all funds for which she is responsible, with all funds meeting or outperforming target ranges since the platform’s inception in 2010.
Prior to joining LaSalle, Amy was a Managing Director of Global Principal Investments at Merrill Lynch in London, where she was responsible for transactions across Europe, including: the acquisition of a €13bn portfolio of non-performing loans and a loan servicing company from Banca Intesa in Italy, the acquisition of a €1.4bn non-performing loan portfolio from Dresdner Bank in Germany and the acquisition of a €741m portfolio of four German Shopping Centres. Prior to that, she was a National Director at Jones Lang LaSalle Corporate Finance in London and at LaSalle Partners in Chicago. Prior to that, Amy worked for Morgan Stanley Real Estate in New York, in both the Morgan Stanley Real Estate Fund and its real estate advisory business. Amy has lived and worked in Europe since 1999, is a U.S. citizen and speaks English and French.
Amy has an MBA in Finance and Real Estate from the Wharton School of the University of Pennsylvania and a BSE in Engineering from Princeton University (cum laude and sigma xi). She has been living and working in London since 1999.
Alistair Dryer is Head of UK Client Capital for LaSalle Global Partner Solutions where he is responsible for all aspects of indirect investments including client management, investment strategy and allocation and management of underlying investments. Alistair has over 15 years of experience in the real estate market.
Alistair joined LaSalle in 2018, having previously been employed at Aviva Investors in their Real Estate Multi-Manager business. Alistair has transacted over £2 billion of investments and has been involved in the creation of a number of bespoke fund vehicles for clients. He has managed both separate accounts and fund vehicles for private and public pension fund accounts.
Alistair has an LLB (Hons) and MSc from Leicester University. He is a member of the Royal Institution of Chartered Surveyors and is registered as an Authorised Person by the FCA to conduct investment management activity.
Tiziana Galassini is a Senior Managing Director of LaSalle and COO of the Client Capital Group, a team of over 40 professionals located in 12 offices around the globe responsible for client relationship management, capital raising and marketing of LaSalle global business. Tiziana is also a member of LaSalle European Management Board.
As part of her role, she is responsible for overseeing the coordination of new product development globally within the Client Capital Group. This includes the setup and launch of LaSalle sponsored co-mingled funds and club deals; she works closely with portfolio managers, Research & Strategy and the Legal and Compliance teams. her responsibilities include leading the planning process and tracking of LaSalle’s global capital raised.
Tiziana has 20 years of experience in the real estate and finance business, and prior to joining LaSalle she worked for 15 years in the investment banking division of Morgan Stanley.
Tiziana received a BA summa cum laude in Business Administration from Bocconi University in Milan.
Rebecca Gates is Head of Asset Management, overseeing LaSalle’s UK Retail and Business Space Asset Management teams. Rebecca’s focus is to drive the implementation of Asset Business Plans and identify and exploit opportunities to add value. She liaises very closely with Client Fund Managers to agree and evolve investment strategy. Also, Rebecca is responsible for structuring and coordinating external suppliers including property management.
Rebecca joined JLL in 1992 and since then she has undertaken a variety of roles for a diverse range of clients including charities, non-UK organisations and private individuals; although the majority of her work has been for UK Pension Funds. Rebecca currently sits on the UK Management Board and is a member of the UK Investment Committee.
Rebecca holds a BSc (Hons) in Land Management from Reading University, and is a qualified Chartered Surveyor.
Chris Lewis manages the Transaction team in the UK, working with the Fund Managers and the Strategic Partnerships team to source, appraise and secure suitable investment opportunities across a variety of styles.
Chris rejoined LaSalle in June 2014, having previously been a partner at Cordea Savills from 2006 to 2014 and before that at LaSalle and JLL, where he joined in 1998. Since 2001, Chris has worked on successful acquisitions totaling over €2 billion across Europe, of which over £1 billion has been in the UK.
Chris is a Chartered Surveyor, a member of the Investment Property Forum and Approved under FSA Guidelines as a CSF30 (customer).
Anne Lucking is a Client Executive within LaSalle’s Client Capital Group. She is responsible for creating and managing relationships with investors, clients and investment consultants from the UK, Ireland and the Nordic Region who invest in LaSalle’s products and services around the world. With over 30 years of experience in the property industry, Anne has extensive experience in the areas of investment management, company acquisitions, fund management of both unlisted funds/derivatives portfolios (multi-manager) and direct real estate commingled funds, direct and indirect transactions, development funding, direct development and asset management.
Anne joined LaSalle in 2004 from Aberdeen Property Investors / Barclays Property Investment. She initially trained and qualified as a Chartered Surveyor at Richard Ellis, now CBRE Global Investors.
Anne holds a BSc (Hons) Land Management from the University of Reading. She is a Fellow of the Royal Institution of Chartered Surveyors and is registered as an approved person by the FCA.
Simon Marx is a Regional Director within LaSalle Investment Management’s European Research & Strategy team. His primary function is to monitor the UK and Continental European property markets. This includes defining fund strategies, identifying acquisition opportunities and bringing new sources of global capital to Europe. To this end, Simon works closely with several teams across London, Munich, Paris and elsewhere around the world.
Prior to joining LaSalle Investment Management in early 2011, Simon was Head of UK Analytics at the listed property information company CoStar, where he developed an independent analysis and forecasting service based on building-level data in the UK. Prior to this he was Head of Research at Close Investments. He also initiated European property forecasting at consultant Experian Business Strategies and spent his formative years in European research at CBRE.
Simon completed a BSc (Hons) in French and German at the University of Salford, followed by an MSc in Real Estate Investment and Finance at the University of Reading. He is Chair of the Investment Property Forum’s Research Steering Group and also a former committee member of the Society of Property Researchers. Simon is fluent in four languages.
Mahdi Mokrane joined LaSalle in 2013 as Head of Research and Strategy for Europe. He is based in London and oversees European investment strategy and manages the regional Research and Strategy team. He works closely with the Global Strategy team and serves on LaSalle’s UK, Debt & Special Situations and Pan-European investment committees, as well as the European Management Board.
Prior to joining LaSalle, Mahdi worked at AEW Europe, where he was Head of Research and Strategy. He has extensive experience in real estate transactions and portfolio and fund management in both UK and Continental European markets. Prior to joining AEW in 2004, he worked at MSCI IPD as Director for Research and Training for France and Southern Europe.
Mahdi taught at the ESSEC Business School and University of Cergy and worked as a bond quant at CDC in Paris. He holds a PhD in Economics and Finance from EHESS and a MSc from Dauphine University. He is an active member of industry organizations including MSCI IPD, ICSC, INREV, and EPRA, and is a regular speaker at industry events and university seminars. Mahdi is a Member of the RICS.
Gary Moore is responsible for the International Accounts Team focusing on cross border capital investment into the UK and European markets for LaSalle's existing and new institutional clients. In addition, he is a senior fund manager responsible for two value-add accounts – one UK and one Pan-European. He has over 27 years of experience.
Prior to joining LaSalle, Gary spent 14 years with ING Real Estate Investment Management (now CBRE Global Investors) in the UK as a Senior Director and Head of the Acquisitions and Development team. He was also a Senior Fund Manager and Head of Separate Accounts. Gary has extensive transaction and development experience throughout the UK, across the risk spectrum and through two economic cycles. He has a detailed understanding of value-add and opportunistic (refurbishment and development) style investments and transacted over £5 billion of real estate assets. He has developed and implemented successful strategies for several funds over the last 15 years.
Gary holds a BSc (Hons) from Trent Polytechnic, Nottingham and an MSc in Real Estate and Finance from Reading University. He is a Chartered Surveyor and Member of the Royal Institution of Chartered Surveyors.
Philip Nell is the Head of Real Return Assets at LaSalle Investment Management with overall responsibility for approximately £2.5 billion of funds. He joined LaSalle in 2018 and has worked in the real estate industry for the last 25 years and the investment industry for over 22 years.
Prior to joining LaSalle Philip was a Fund Director in the Real Estate team at Hermes Investment Management. Prior to that, Philip was Head of European Retail Funds-Real Estate at Aviva Investors. Over the course of his career, Philip has been responsible for investment decisions on approximately £15 billion of assets, including around £5 billion of purchases and sales. The majority of his experience is in the UK direct real estate market, across all sectors, but he has also had responsibility for listed assets, and assets across Continental Europe.
Philip is a former member of the Governance and the Regulations Committees of the Association of Real Estate Funds, the Build to Rent Sub-Committee of the British Property Federation, and the Academic Faculty of the Investment Property Forum. He is currently a member of the MSCI UK Client Group, the RICS Commercial Property Forum and is the former Chair of the Investment Property Forum.
Tom Rose is responsible for portfolios with relative return investment strategies within the UK. He formulates and oversees the implementation of the strategic objectives of portfolios, including acquisitions, sales, sustainability and asset management initiatives.
Having joined LaSalle as a graduate in 2001, he has worked with a broad range, size and style of portfolios, including pension funds, endowment funds and geared vehicles.
Tom holds a BSc in Real Estate Management from Oxford Brookes University. He is approved by the FCA (CF30: Customer) and is a Member of the Royal Institution of Chartered Surveyors. He sits on LaSalle's European Sustainability Taskforce and UK Investment Committee.
Steve Spray is responsible for portfolios with absolute return investment strategies within the UK and is Fund Manager for the British Coal Pension Funds. He formulates and oversees the implementation of the strategic objectives of portfolios, including acquisitions, sales, sustainability and asset management initiatives. Steve is also a member of LaSalle’s UK Investment Committee.
Steve joined LaSalle in 1990, holds a Bachelor of Land Economy degree from The University of Aberdeen and is a Member of The Royal Institution of Chartered Surveyors with over 30 years of industry experience. He is an Approved Person (CF30) by the Financial Conduct Authority, member of the Investment Property Forum and a Policy Board member of the Scottish Property Federation.
Prior to joining LaSalle, Steve worked at Whitbread PLC and Bass PLC.
Alan Tripp is Head of UK for LaSalle, with overall responsibility for the UK business and clients comprising some £12.3 billion in assets under management as well as oversight of LaSalle’s global indirect business. Alan chairs the UK Management Board and the UK Investment Committee and sits on LaSalle’s European Board. Alan has spent many years either directly managing or overseeing a variety of pension fund and life company portfolios across a range of sizes and investment objectives. This has involved specialist global indirect expertise, and he has built up a strong network of market contacts and joint venture relationships. He has over 30 years of real estate investment experience.
Prior to joining LaSalle at the beginning of 2008, Alan worked for Invista REIM where he was Head of HBOS Funds where he was responsible for managing six property investment funds worth a total of £5 billion. He was also a member of their UK Investment Committee and Management Board. Before this, Alan worked for Clerical Medical Investment Group, the Electricity Supply Pension Scheme and The Carroll Group, a private property company.
He is FCA registered and has a bachelor’s degree in urban land administration from Portsmouth University. He is a Member of the Royal Institution of Chartered Surveyors and the Investment Property Forum.
Jon Zehner is the Global Co-Head of Client Capital Group and is based in London. He is responsible for leading LaSalle’s global activities relating to capital raising, new product development, large-scale, cross-border strategic investments and marketing and communications.
Prior to joining LaSalle in 2012, Jon worked at AREA Property Partners as Senior Director responsible for client relationships, deal origination and strategic development. Prior to AREA, he spent 28 years at JP Morgan Chase, where he held a number of senior positions including Global Head of Real Estate Investment Banking and Head of sub-Saharan Africa.
Jon holds an MBA from Harvard and an AB in Economics from Dartmouth. He serves as Chair of the Cambridge Land Economy Advisory Board of the University of Cambridge, as a Trustee of the Urban Land Institute and as a member of the Board of Advisors of the John Sloan Dickey Center for International Understanding of Dartmouth. Past industry activities include founding and serving on the Executive Board of the European Public Real Estate Associate (EPRA), serving on the British Property Federation’s Policy Committee and as a Member of the Board of Directors of the Urban Land Institute.
Through all of LaSalle's investment decisions, our purpose is to generate lasting value for our clients. At LaSalle, we take a long-term business perspective that builds trust, accountability and transparency with clients. We believe that sustainability—including environmental, social, economic and corporate governance—has an impact on investment performance. As such, it should be an integrated component when evaluating real estate related investments and managing real estate assets.
LaSalle's European Sustainability Strategy was established to support our delivery of superior investment performance for our clients while generating lasting value for both our company and our stakeholders.
London is still the place people want to live and work. Take a tour of LaSalle’s assets throughout the City and our rationale for investing in these property types and locations.
LaSalle offers a diverse range of investment vehicles to help clients take advantage of market opportunities and meet their return objectives.