LaSalle and Quantum Global team up to form core real estate investment joint venture
LaSalle Investment Management (LaSalle) and Quantum Global Real Estate (Quantum Global) have formed a joint venture to invest in large real estate assets around the globe, with potential for expanding the capital base through additional syndicate-style arrangements. With leverage the venture has USD1 billion gross of initial buying power.
The venture is targeting predominantly core real estate assets: quality long-term investments in excess of USD100 million located in major mature real estate markets around the world. Initial focus is expected to be on Australia, France, Germany, the United Kingdom and the United States. The venture will seek to make investments on its own and also as part of club arrangements with like-minded institutional investors.
The multi-disciplinary team is being led by experienced industry veterans, including Quantum Global owner Jean-Claude Bastos de Morais and LaSalle’s global CEO Jeff Jacobson, working with senior members of the Quantum Global team and Simon Marrison, Head and Chief Investment Officer of LaSalle’s European private equity business, who will lead LaSalle’s initiative in the venture.
Bastos de Morais says: “We considered a number of prospective partners for this venture and LaSalle clearly demonstrated both the skills and commitment that we were looking for. This joint venture represents the optimal approach for us to commence investing in global real estate on behalf of our clients.”
Jacobson says: “We are delighted to be partnering with Quantum Global, a well-respected firm that brings valuable banking and multi-asset investment experience to the joint venture. This is an exciting partnership and one that illustrates LaSalle’s client-oriented culture which dictates that we find creative, and often tailored and pre-specified, opportunities to meet the needs of emerging investors such as Central Banks and Sovereign Wealth Funds. The venture gives us access to capital that can be quickly deployed in large real estate assets, something which we believe to be of strategic importance in today’s real estate investment environment.”