LaSalle acquires US logistics property on behalf of BÄV
LaSalle Investment Management has acquired a logistics property in the US on behalf of Bayerische Ärzteversorgung Bavarian doctors’ pension fund (BÄV).
The fund represents one of the 12 pension institutions of BVK, the Bavarian umbrella pension scheme for self-employed professionals, including doctors, lawyers and architects.
Located in the greater Chicago area, the property has a total rentable floor space of more than 260,000 square feet.
The property was completed in early 2014 and has been leased on a long-term basis.
The property was sold by Pizzuti Development Company for a purchase price of USD52.1m.