European Real Estate Debt & Special Situations


LaSalle's Real Estate Debt & Special Situations team actively invests in real estate debt throughout Europe and also invests across the capital structure via its Special Situations platform.

The team invests in whole loan and mezzanine finance, development finance, capital expenditure funding, and loan acquisition funding through various investment products, including discretionary commingled funds, separate accounts and joint ventures. The team has arranged debt for investments across a broad range of asset classes including office, retail, residential, student housing, logistics, hotels, serviced apartments, the private rented sector and self-storage.

LaSalle's Special Situations fund series targets structured equity and debt investments particularly taking advantage of specific market dislocation opportunities across Europe. Investing across the capital structure, the Special Situations team has invested in preferred equity structures, recapitalizations, loan acquisitions, corporate real estate opportunities and equity joint ventures.

  • $2.4B
    Assets Under Management
  • 28
  • 2010
    Inception Year

Meet the team leaders

  • Photo of Amy Klein Aznar
    Amy Klein Aznar
    Head of Debt Investment and Special Situations - Europe

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    11 years at LaSalle
    Joined in September 2008

    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.

  • Photo of Tal Lev-Ari
    Tal Lev-Ari
    Managing Director, Head of Operations

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    Tal Lev-Ari is the Head of Operations for Debt Investment & Special Situations, responsible for Portfolio Management, Loan Asset Management Functions for LaSalle Real Estate Debt Strategies II & III (£1.4bn in committed capital), LaSalle Residential Finance I - III (£846m in committed capital), and LaSalle UK Special Situations Fund.

    Prior to joining LaSalle, Tal ran the European Debt Asset Management platform (performing loans) for GE Real Estate where she oversaw a £3bn European loan book spanning across the UK, Germany, France, Spain and the Netherlands. Prior to that, Tal managed GE Real Estate’s operating loans book and led the restructuring of multi-tranched and complex capital structure loans. Tal started her career at Lehman Brothers where she had established and headed two businesses – an Israeli desk for a Pan-European debt strategy covering the UK, Germany, France, Sweden and the Netherlands and an equity strategy in the CEE. During her years with Lehman Brothers, she has closed over $5bn real estate transactions covering equity, senior and mezzanine loans.

    Over the past 17 years Tal has held various roles in leading financial institutions, ranging from origination to asset management and covering the full spectrum of the capital structure.

  • Photo of Hiren Patel
    Hiren Patel
    Managing Director, Head of Finance

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    Hiren Patel is the Head of Finance for Debt Investments & Special Situations and is responsible for the management of the day-to-day accounting and finance function covering all elements of financial accounting, consolidation, debt and cash management structuring and ‘back-office’ operations.  

    Hiren has 15 years’ experience in real estate financial and investment accounting and has previously been a Finance Director at LaSalle responsible for both LaSalle UK and global mandates for all aspects of financial, debt, cash and tax management. Hiren has completed over £1bn of debt transactions for LaSalle’s global mandates across the United Kingdom and Europe.  Hiren joined LaSalle in 2004.

    Hiren holds a BSc (Hons) in Accounting and Management Information Systems from University of Hertfordshire and is a member of the Chartered Association of Certified Accountants.

  • Photo of Dan Pottorff
    Dan Pottorff
    Managing Director, Transaction & Fund Management

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    Dan Pottorff is a Managing Director in the Debt Investments & Special Situations team and is responsible for originating, negotiating and executing transactions for clients and managed funds.  Dan has a 17 year track record of working in real estate lending, structured finance, distressed investing and investment banking.  Since joining in 2014, Dan has originated and executed transactions for LaSalle Real Estate Debt Strategies II & III, LaSalle Residential Finance III and separate account mandates. During his time at LaSalle, Dan has been directly responsible for completing 19 transactions representing c.£1bn of lending.

    Prior to joining LaSalle, Dan worked at Strategic Value Partners (SVP) where he was involved in acquiring c.€300m of distressed collateralized mortgage-backed securities (CMBS), whole loans and mezzanine loans backed by real estate in the UK, Germany and Spain. Prior to SVP, Dan was part of the Securitized Products Group at Morgan Stanley where he was involved in underwriting c. €10bn of loans in the UK, Spain, Benelux and Germany as well as structuring CMBS for the European Loan Conduit (ELOC) program.

    Dan holds an MSc with Distinction in Global Market Economics from the London School of Economics and a BBA in Business Administration and BSc in Economics from the University of Iowa. He has been living and working in London since 2002.


LaSalle Debt & Special Situations named Financier of the Year at the Property Week Awards 2016

LONDON (April 19, 2016) – LaSalle's award winning streak continues with the Debt & Special Situations Team, led by Amy Aznar, being named Financier of the Year at the Property Week Awards 2016. Voted for by a panel of expert judges, the Team was acknowledged as one of the most active non-bank institutional lenders in Europe, covering a broad range of asset classes including office, residential, retail, student housing, logistics, hotels and serviced apartments.


LaSalle Debt & Special Situations Team record over £550M in debt investments over the past year

LONDON (March 1, 2016) – LaSalle’s Debt Investment & Special Situations team capped a strong last twelve months by transacting 5 deals on behalf of its advised funds in the fourth quarter of 2015, bringing total lending to over £550m over the past twelve months across twelve loans. The investments are secured by a diverse mix of asset types including office, retail, logistics, student housing and hotels and located in London and across the UK.