LaSalle secures mandate to invest USD1bn of equity in US real estate
LaSalle Investment Management has been awarded USD1 billion of equity to invest in US real estate by a large European institutional investor.
The new mandate will seek direct real estate investment opportunities across all property types in primary and top secondary markets in the US.
“We are extremely pleased to be working with a global investor of this calibre to develop a customised investment programme which fits their requirements,” says Jason Kern, LaSalle Americas CEO. “We continue to see strong interest from sophisticated investors from around the globe in more customised strategies like this one targeting the US commercial real estate market. We anticipate continued economic growth and improving real estate fundamentals over the next few years, and believe ongoing changes in demographics, technology and urbanisation will provide attractive risk-adjusted investment returns across most major property types in the US.”
This new mandate follows quickly on the heels of LaSalle’s recent announcement that it has raised USD1 billion in equity since the beginning of 2014 for Asia Pacific investment strategies.