LaSalle Investment Management has closed three transactions in Asia Pacific worth a combined USD345m.

It has acquired Nasu Outlet Mall in Japan via the LaSalle Asian Opportunity Fund III. Built in 2008, this is a 111-tenant retail outlet mall on the northern perimeter of Greater Tokyo.

It sold Ibis Singapore on Bencoolen Street via LaSalle Asian Opportunity Fund II. Located in Singapore’s historic Bugis area, this hotel comprises 538 contemporary guest rooms, two retail outlets, 68 car arks, plus two food and beverage outlets.

It also acquired 179, Elizabeth Street in Sydney via LaSalle Asian Opportunity Fund III. This grade A building purchased from GPT Wholesale Office is a freehold stratum with a net lettable area of 14,927 square meters.

Ian Mackie, LaSalle Asia Opportunity Fund president, says: “After two tough years following the global financial crisis, it is really exciting to have so much good news to announce within a week. We see strong growth potential in Asia Pacific where the markets are recovering much more rapidly than other parts of the world and we continue to seek more opportunities in this region.”

In addition to these transactions, LaSalle’s Japan Logistics Fund II closed on a JPY3.9bn loan for the Azusa warehouse portfolio in Tokyo.

Separately, LaSalle also recently launched the “Terrene at Bukit Timah” in Singapore, a joint venture residential project with UOL. The 172 condominiums were fully sold within the first month of launch.