The LaSalle Income & Growth Funds invest in high quality, but underperforming multifamily, office, industrial and retail properties across the US. The Funds primarily acquire existing income producing properties, improve them through hands-on asset management and sell to core investors. By focusing on the acquisition of existing buildings, the Funds seek a significant income component to underpin the value added total returns. The Funds also invest in ground up development projects in certain strategies.
Since 1996 the team has raised and invested seven funds, of which five are fully liquidated. The experienced and dedicated Fund team, leveraging the overall LaSalle platform, seeks to optimize risk adjusted returns for its investors by predominantly investing through direct ownership of properties, though the Fund also invests alongside joint venture partners in specific situations.
Bay Street Emeryville
San Francisco, CA
Bay Street is an open-air lifestyle center located at the foot of the San Francisco Bay Bridge. The acquisition represented a component of a larger mixed-use development including apartments and residential condominiums. The investment strategy implemented value-add initiatives including strengthening tenancy, maximizing parking income and the development of a vacant land parcel.
The Crossings@880 industrial development was delivered in 2015 and comprised of three warehouses totaling 700,000 sq ft of Class A features. The site serves distribution and technology tenants in a market that is supply constrained and dominated by older product. The site’s major highway frontage provides excellent access for tenants and in a location accessible to the San Jose, East Bay and Greater San Francisco markets. The property was 100% leased prior to construction completion to three tenants, including Apple, at rents significantly above underwriting.
123 N Wacker
123 N Wacker is situated in an ideal office location with excellent access to public transportation and amenities within the West Loop submarket. The property presents significant value creation opportunities through capital expenditures and lease up that was not possible under previous ownership due to capital constraints. The Income & Growth team has made significant progress to date on implementing their renovation and repositioning initiatives.
Alesio Urban Center
Los Colinas, TX
Alesio Urban Center is a 19-building residential property consisting of 908 units and 51,000 square feet of commercial space. The property is favorably located within the Dallas Fort Worth area, has strong highway and light-rail access to both the airport and Dallas CBD. The Income & Growth team recognized an opportunity to transform a significantly undermanaged asset and restore the property to Class A condition. The enhancements being delivered to the property are further complemented by new amenities and infrastructure upgrades in the neighborhood.