JLL (NYSE: JLL) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2025 World’s Most Ethical Companies. For the 18th consecutive year, JLL has been honored for demonstrating exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance and governance practices.  

In 2025, 136 honorees were recognized spanning 19 countries and 44 industries. 

LaSalle is a wholly owned subsidiary of JLL and is proud to share in this achievement.

London ranks as Europe’s leading city for projected real-estate occupier demand for the sixth year running in the latest annual edition of the European Cities Growth Index (“ECGI”), published by LaSalle Investment Management (“LaSalle”), the global real estate investment manager. Following closely behind, Paris retains its position as one the “Big Two” European cities owing to its position as one of Europe’s key innovation and technology hubs.

While London retains its top position, its ECGI score worsened compared to last year, due to pressures on GDP growth. In 2022, the ECGI score worsened for 57 cities across Europe, the highest number since the Great Financial Crisis.

Polarization between London and UK regional cities also continued to widen in this year’s index.

Conversely, German cities proved to be less volatile in economic crisis and complementary of each other, with four German cities making it into the index’s top 20.

More broadly, since the ECGI’s inception in 2000, only London, Paris and Munich have consistently ranked in the top 10. Moreover, Amsterdam’s inclusion in the list this year comes due to the city’s human capital and employment growth prospects which remain exceptionally strong.

Petra Blazkova, Head of Research & Strategy, Core & Core-Plus Capital, Europe at LaSalle said: “This year’s findings come amidst significant turbulent macroeconomic headwinds for European markets. Despite their rankings and strong fundamentals, several top European cities will continue to face challenges in the coming months.

“That is why this year’s findings and the metrics tracked in the ECGI provide a valuable tool in assessing occupier demand and prospects for real-estate markets as investors look to the property sector for stability amidst a worsening global financial landscape.”  

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, added: “Amidst a challenging market backdrop, real estate remains a critical asset class for investors. Our research shows that whilst many cities across Europe were recovering from the pandemic last year, markets now face twin economic and geopolitical challenges, making it imperative for investors to build a diversified portfolio of assets underpinned by long-term resilience.”

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) has announced a series of additions and enhancements to its European Research & Strategy leadership team, reflecting a deepened focus on its key investor products and an emphasis on driving competitive investment performance.

Dan Mahoney succeeds LaSalle’s newly appointed Global Head of Research & Strategy, Brian Klinksiek, as Head of European Research & Strategy, effective 1 January 2023. He brings over 14 years’ experience as a strategist in the firm’s North America Research & Strategy team, where he helped drive investment performance through a range of successful initiatives, including a focus on LaSalle’s US residential strategies. During that time, he acted as the Research & Strategy team’s chief liaison for several clients and funds. In his new role, Dan will relocate to London and focus on further embedding and enhancing the use of proprietary, risk-adjusted frameworks and analytics to drive investment conviction across debt and equity strategies in Europe. He will report to both Brian Klinksiek and Philip La Pierre, Head of Europe.  

As part of this restructuring, Petra Blazkova has been appointed to the newly created role of Head of Research & Strategy, Core & Core-Plus Capital, Europe. Previously Managing Director within LaSalle’s European Research & Strategy team, Petra was responsible for overseeing Continental European market analysis from the London office. In her new capacity, she will relocate to Munich and work closely with David Ironside, fund manager of Encore+, and Uwe Rempis, fund manager of LaSalle E-REGI, as well as the firm’s separate accounts, supporting the funds’ ongoing strategies and development.

Completing these changes, Dominic Silman has been appointed as Head of Research & Strategy, Debt & Value-Add Capital, Europe. Previously Senior Strategist within LaSalle’s European Research & Strategy team, Dominic will continue to be based in the London office and will work directly with Michael Zerda, Head of Debt & Value-Add Strategies, on the firm’s European debt strategies and recently reconstituted value-add platform. In their new roles, Petra and Dominic will report into Dan Mahoney.

Brian Klinksiek, incoming Global Head of Research & Strategy at LaSalle Investment Management, said: “The breadth and depth of our European Research & Strategy team enables LaSalle to drive forward its best-in-class client offering across Europe. These appointments will help maintain that momentum, underpinning our growing and integrated product mix, and ensuring the ongoing success of LaSalle’s commingled funds and separate accounts. I look forward to continuing to work with Dan, Petra and Dom as the European Research & Strategy team goes from strength to strength”.

Philip La Pierre, Head of Europe at LaSalle Investment Management, added: “Dan, Petra and Dom’s collective experience will be key to our in-house market-leading intelligence and the delivery of competitive investment performance across the full spectrum of our products. They will play a vital role in informing investment decisions and portfolio construction, particularly as we continue to diversify our asset allocation, grow our value-add strategies and build upon our well-established debt series.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com, and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Heightened geopolitical risk, persistent high inflation, and a possible recession will place European real estate under acute pressure in H2 2022. However, the asset class is expected to continue to provide longer-term stability for core investors via carefully curated portfolios, as well as offering new opportunity for investors seeking value-add returns – according to the mid-year 2022 edition of the Investment Strategy Annual (“ISA”), the report published by global real estate investment manager LaSalle Investment Management (“LaSalle”).

Europe is facing a macroeconomic environment rendered fragile by supply chain issues, a hot war on the region’s periphery and a squeeze on consumers’ disposable incomes. As a result, LaSalle expects real estate investors to adopt a much more cautious approach in the second half of 2022. However, while inflationary pressures have surged, and interest rates have increased earlier and more quickly than expected, real estate assets can act as a hedge against inflation in cases where landlords have pricing power. Fundamentally, this will manifest for investors with the best assets in the right locations, where supply-demand imbalances underpin rental growth.

Furthermore, in an uncertain environment, investors seeking higher returns can expect to benefit from dislocation and opportunities to repurpose assets. Off-market or value-add opportunities could potentially offset the effect of rising operating expenses, construction costs and interest rates, either through building-specific renovation or repositioning to achieve occupancy improvement or rental uplift. 

Long-term resilience will be underpinned by careful stock selection. Although European real estate markets have been impacted by global headwinds, pockets of opportunity persist for investors across each sector.  

Retail rebound postponed

In retail, the post-Covid recovery has been shaken by the impact of inflation on consumer discretionary spending power. Bricks-and-mortar retail warehouses have, however, remained resilient due to the non-discretionary nature of underlying demand for grocery anchors and their convenience offer. But fundamental challenges for European shopping centres and high-street retail is expected to persist, despite destination shopping continuing to remain an integral part of the retail experience in the long term. We remain optimistic on the outlook for outlet centres, which are set to benefit from increasing consumer frugality.

Office sector ‘trifurcation’

As with retail, the office sector is experiencing occupier and investor needs varying greatly by the quality of asset and micro location. Experientially rich buildings in prime locations that meet sustainability standards and benefit from high-quality amenities will continue to attract demand. In addition, with the pathway to Net Zero Carbon in mind, the age and quality of existing stock in European markets presents an opportunity to create the offices of the future, particularly through refurbishment. However, there is a growing range of older stock which is likely to be stranded and should be sold at – or at times even below – current valuation before liquidity dries up.

Logistics demand story remains intact

Logistics has not been immune to recent market shocks and the ongoing cost-of-living crisis. A slowdown in take-up by major occupiers marks a change from many years of continued expansion. However, LaSalle believes that the sector remains in a robust position to grow in the coming months. European logistics properties recorded the highest demand for new space ever in H1 2022, driven by continuous e-commerce expansion, as well as just-in-case inventories and the nearshoring of some manufacturing activity. As a result, vacancy rates are at historical lows, and we remain confident of future prospects for European logistics rental growth.

Living strategies’ prospects at risk of divergence

The living sectors remain underpinneD by strong demand drivers including robust household formation, growth in key cities, an ageing population, increasing mobility and a structural undersupply across Europe. However, potential home buyers may tilt toward renting, owing to the rising cost of debt. For the more niche living sub-sectors, such as student housing and senior housing, investors will need to be ahead of the curve to take advantage of attractive pricing.

Finding value across the yield spectrum

With the European landscape evolving quickly, assessing the prospect for various sectors requires consideration of assets’ pricing yield levels and income growth potential.

LaSalle’s framework finds that for low-yield sectors with excellent fundamentals, like logistics, prime low-carbon offices in key cities and unregulated residential, valuations will hinge on the potential for and relative magnitude of future rental growth and an upward shift in yields. In low-yielding sectors where inflation cannot be offset by rental growth, caution must be exercised until markets stabilise.

Although higher-yielding sectors with challenged fundamentals are intuitively those in which value may be identifiable, recent concerns around economic growth have made their impact felt. The nascent retail recovery, for instance, is at risk from inflationary pressure on real incomes, while capex-intensive strategies to renovate buildings are affected by rising construction costs. Meanwhile, sectors with relatively higher yields and stronger net operating income growth potential – namely alternative living sectors, such as student accommodation or senior living – continue to remain attractive.

Brian Klinksiek, Head of European Research and Global Portfolio Strategies at LaSalle, said: “The past six months have seen macroeconomic headwinds and geopolitical risk affect the global economic outlook. European investors should therefore exercise caution in the coming months until market valuations and asset pricing stabilise. But despite this, real estate will remain an anchor as other asset classes struggle, and investors look for predictability. Underpinned by the long-term resilience of the asset class, careful portfolio construction across the key sectors of European real estate can continue to deliver the benefits of diversification, stability and long-term income growth for investors.”

Jacques Gordon, Global Head of Research and Strategy at LaSalle, added: “Real estate generally provided shelter during the waves of volatility that swept through the securities markets in the first half of the year. In the second half, we foresee different dynamics unfolding. The big change has been the sharp rise in inflation in Western countries and a “regime shift” from highly accommodative to tightening monetary policies by several central banks. Many world events simultaneously contributed to this inflection point including: the re-opening of economies after COVID-19, Russia’s invasion of Ukraine, trade wars, and government stimulus spending. Although these pressures were building in 2021, there is no escaping the fact that the financial and commodity markets shifted sharply in the first half of 2022. Our guidance for investors to seek inflation protection in real estate is a focus-theme of our mid-year update.”

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Market direction and economic outlooks have shifted since the start of 2022, with elevated inflation, slowing economic growth, and higher interest rates impacting the real estate market. According to LaSalle’s 2022 Mid-Year Investment Strategy Annual (“ISA”), the overall market shifts are causing real estate investors to re-visit earlier strategies as they understand and react to higher inflation, the Fed’s and the Bank of Canada’s rapid interest rate increases to combat it, and global geopolitical and economic upheaval.  

LaSalle clients can view the full report at: www.lasalle.com/research-and-insights/isa-2020

In North America, the impacts of inflation and rising rates on real estate are nuanced, and require an understanding of each sector’s fundamentals, which the report explores. Coming into 2022, LaSalle Research & Strategy noted that the pandemic and its ensuing economic ripple effects had accelerated pre-pandemic trends, widening the gap between favored and non-favored property types. The mid-year report shows these trends are continuing as investors gravitate to favored property types with strong underlying fundamentals. Looking ahead, there is uncertainty in the market, but it appears as though the favored property types are well-positioned to withstand a potential economic slowdown.

Jacques Gordon, Global Head of Research and Strategy at LaSalle, said: “Real estate generally provided shelter during the waves of volatility that swept through the securities markets in the first half of the year.  In the second half, we foresee different dynamics unfolding. The big change has been the sharp rise in inflation in Western countries and a “regime shift” from highly accommodative to tightening monetary policies by several central banks. Many world events simultaneously contributed to this inflection point including:  the re-opening of economies after COVID-19, Russia’s invasion of Ukraine, trade wars, and government stimulus spending.  Although these pressures were building in 2021, there is no escaping the fact that the financial and commodity markets shifted sharply in the first half of 2022.  Our guidance for investors to seek inflation protection in real estate is a focus-theme of our mid-year update.”
 

Select 2022 Mid-Year ISA findings for North America include:

• In line with the full-year ISA’s prediction, favored property types including industrial, multifamily, medical office and single family rentals continue to have strong fundamentals and outperform on a relative basis. Industrial development and transactions continue as there remains a supply gap and businesses who lease these spaces continue to show they can continue to pay rents, even as they increase. The residential property types also have a strong outlook. As interest rates rise and inflation impacts housing starts, many would-be homebuyers may look to rent.
   
• The debt markets remain liquid, providing the capital needed to finance transactions. While the Mid-Year ISA expects a slowdown in transactions, debt funds, life insurance companies and banks continue to lend to strong, established sponsors. Meanwhile, CMBS issuance has slowed, and higher interest rates mean highly leveraged borrowers are less competitive bidders for property. For borrowers, leverage is less accretive than last year, but many are still using leverage with the belief that future income growth will make leverage accretive to returns over their hold period.
   
• The report also looks at capital flows as barometer of market health, and notes that NAV REITs continue to raise capital, as retail investors start to establish a portfolio allocation to real estate and diversify amid a volatile market environment. While many closed-end funds still have dry powder from previous capital raises, new institutional capital raises appear to have slowed slightly as established investors have reached their target allocations after playing catchup over the last several years.
   
• Transaction volume in the first quarter of the year was higher than the first quarter of the prior year. US transaction volume last quarter was $157.6 billion, 76 percent higher than a year ago. In Canada, USD $10.7 billion traded in last quarter, representing a 71 percent year-over-year increase. The report estimates that pricing has adjusted downward from a peak in the first quarter of 2022 by a range of 0-15 percent depending on market segment, giving back a portion of the gains from the last 12 months. Though second quarter data is not yet available, anecdotally it seems transactions have slowed amidst shifting pricing and broader uncertainty. However, a bid-ask gap has not developed as buyers and sellers have been willing to accept similar price declines.
   

Rich Kleinman, Americas Co-CIO and Head of US Research & Strategy at LaSalle, said, “While it remains to be seen how inflation and interest rates will evolve in the second half of the year, it is our view that many property types are well-positioned to support investor goals in the months ahead, and that real estate exposure should play a productive role in investors’ portfolios. Experience in recent downturns is also helping investors and lenders navigate the uncertainty, which should bode well for the industry as a whole.”

Chris Langstaff, Head of Research and Strategy for Canada at LaSalle, said, “Canada is historically a stable market, and it appears that while many of the same headwinds apply, fundamentals remain strong and transactions in many property types are moving forward.”

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today announced that after 28 years of distinguished service and leadership of the Research & Strategy group at the firm, Jacques Gordon has confirmed he will retire from the business at the end of 2022 in to order pursue interests in higher education. He will remain as the Global Head of Research & Strategy through the remainder of this year, and will be succeeded by Brian Klinksiek, LaSalle’s current Head of European Research & Global Portfolio Strategies, effective 1 January 2023.

Brian will continue to be based in London and will join LaSalle’s Global Management committee, reporting to CEO Mark Gabbay. Succession for Brian’s Head of European Research & Strategy role is in process and will be announced prior to his transition to global leadership in 2023.

LaSalle Global CEO Mark Gabbay said, “This transition reflects LaSalle’s continued focus on thoughtful leadership succession, offering both continuity along with fresh ideas to be infused across the organization. We are grateful for the numerous contributions Jacques has provided LaSalle and the broader industry over the course of his career, and look forward to recognizing these accomplishments in the months ahead. Brian’s professional experience positions him well to take on this role, having lived, worked, and covered the real estate markets in North America, Europe and Asia-Pacific.”

After joining LaSalle in 2020, Brian led the reorganization of LaSalle’s European Research & Strategy team from a geography-focused model to a more dynamic pan-European sector-focused model. He has deepened the Research & Strategy team’s integration within the firm’s newly formed European Debt & Value-add platform, and also led the creation of LaSalle’s global investment risk management function. Brian has been a leading industry advocate for the incorporation of climate risk analysis into investment-making decisions, and is a champion for diversity in the workplace, having been appointed Chair of LaSalle’s European Culture of Care committee in 2021.

Brian Klinksiek, incoming Global Head of Research & Strategy said, “It is an honor to be named the next leader of LaSalle’s world-class Research & Strategy team. Jacques has done a remarkable job establishing LaSalle’s reputation for timely insights, accurate forecasts, and impactful strategy that is fully integrated with the investment process. He has been a role model for me throughout my career – even before I joined the firm. I am thankful for his guidance and partnership, and look forward to continuing to seek his counsel as he moves into academia.”

Jacques Gordon, retiring Global Head of Research & Strategy said, “I am grateful for the experiences, insights and friendships I’ve gained during my time at LaSalle. Our Global Research & Strategy team is well-positioned to continue to deliver great value to our clients and investment colleagues around the world, and Brian is the right leader to drive the next phase of innovation and growth. I look forward to seeing the firm prosper as I transition to the next chapter of my career.”

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) has appointed Rosanna Phillips as Managing Director in its Debt Investments team and Kevin Kong as Director of Acquisitions for Value-Add Investments, adding to the continued growth and expansion of LaSalle Debt & Value-Add Strategies in Europe.

Based in London, Rosanna brings extensive legal experience in commercial real estate transactions. Most recently, she was General Counsel at Intriva Capital, an investment firm focused on asset-backed special opportunities in Western Europe. In that role, she was responsible for overseeing legal matters in relation to the business including legal advice, risk evaluation, structuring and execution. Prior to that, Rosanna spent over 10 years at Linklaters, with a particular focus on European real estate finance, and was seconded to LaSalle in that role.

Kevin joins LaSalle with over 12 years of real estate investment experience. Most recently, he served in UBS Asset Management’s Multi-Managers Real Estate group as a Director, where he led coverage of non-fund investments such as JVs, co-investments and fund formations. Prior to this, Kevin spent eight years at Meyer Bergman, most recently as Senior Vice President for acquisitions, where he was responsible for value-add transactions across Europe. Kevin began his career at Citibank London within the EMEA Real Estate & Lodging team. 

Michael Zerda, Head of Debt & Value-Add Strategies at LaSalle, said: “The addition of Rosanna and Kevin brings a wealth of experience and market knowledge to our growing business, and we are pleased to welcome them to LaSalle. We are excited to continue to build our European debt and value-add equity investing capabilities as we deliver value for our investors.” 

About LaSalle Investment Management 
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) has promoted Katie Hynard and Marc Fauchille to Head of UK Commercial Asset Management and Head of Development & Repurposing, Europe, respectively.

In their new roles, Katie will also become the Chair of LaSalle’s newly created European Asset Management Board, and Marc will become one of the Board’s members and lead the specialist European Development and Repurposing platform, a newly created pillar of LaSalle’s European asset management function focused on larger, more complex and higher-return developments.

The new European Asset Management Board will fully integrate LaSalle’s geographical, sector and development asset management expertise across the wide range of European markets and sectors in which it invests – optimising asset performance and managing its portfolio according to the highest Environmental, Social and Governance standards.

The enhanced asset management cross-border capabilities provided by the Board will complement LaSalle’s leading pan-European, full-service client offer and strategic focus on investing in best-in-class assets in growing markets.

Katie has been at LaSalle for 10 years, previously as an Asset Manager and Senior Operations Manager in Europe. She will now be responsible for the management of LaSalle’s commercial sector assets across the UK and, as Chair of the European Asset Management Board, for driving business-wide growth initiatives and delivering efficiencies across the pan-regional asset management strategy.

Since 2019, Marc has served as Development & Asset Management Director at LaSalle for France & Luxembourg. Before joining LaSalle, Marc was a Project & Development Services Associate Director at JLL for 10 years. Marc will now be responsible for supervising development activities across Europe.

Katie and Marc will be joined on the Board by Natalia Kolotneva, Head of Living & Hospitality Asset Management, Europe; Hagen Knaupp, Head of Asset Management, Continental Europe (excl France); and Loïc Sanières, Head of Asset Management, France.

Both Katie and Marc, and their fellow Board members, will report into Beverley Kilbride, Head of Transactions & Asset Management, Europe, at LaSalle.

Katie Hynard, Head of UK Commercial Asset Management at LaSalle, said: “The creation of the European Asset Management Board is a game-changer in terms of offering our clients a fully integrated asset management function across all our markets and sectors in the region. I am therefore very proud to have been appointed Chair, as well as taking on the role of Head of UK Commercial Asset Management. I am really looking forward to working with my colleagues in the UK and on the continent to build upon our proven success and expertise as we strategically leverage our asset management platform to support our growth aspirations across Europe.”

Marc Fauchille, Head of Development & Repurposing, Europe at LaSalle, added: “It is a privilege to lead the European Development and Repurposing platform at LaSalle. I am excited to continue working with colleagues on challenging and high-quality development and repurposing projects that drive stellar returns for our clients.”

Beverley Kilbride, Head of Transactions & Asset Management, Europe at LaSalle, commented: “These promotions and the establishment of the European Asset Management Board position us to maintain and extend our track record of acquiring, developing and managing best-in-class assets in premier locations across Europe. Katie and Marc, with their fellow Board members, will further strengthen our asset management capabilities across all sectors and I look forward to working with them to deliver value for our investors.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q2 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

JLL (NYSE: JLL) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2022 World’s Most Ethical Companies. For the 15th consecutive year, JLL has been honored for demonstrating exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance and governance practices. 

In 2022, 136 companies from 22 countries and 45 industries were honored. Of these, JLL is one of only four honorees in the real estate industry and one of only 12 that have been on the list 15 times or more.

LaSalle is a wholly owned subsidiary of JLL and is proud to share in this achievement.

Read more about this award on JLL.com

LaSalle Investment Management (“LaSalle”) has completed the acquisition of a fully pre-let senior living property in central Toulouse through a forward-funding agreement with the French developer Cogedim. The transaction has been made on behalf of Encore+, LaSalle’s flagship pan-European fund, and represents the Fund’s first investment in the senior living space.

The acquisition also represents LaSalle’s first investment in senior living in continental Europe and builds upon its expertise in and exposure to the sector in the UK.  

With a newly-established Europe-wide Living and Hospitality asset management platform – currently responsible for £3 billion (€3.6bn) of assets, with 13,000 beds across student housing, build-to-rent, senior living, healthcare and hotels – LaSalle is set to grow its presence in alternative sectors across Europe.

Quai Saint-Pierre, the senior living property in Toulouse, will comprise three connected buildings with over 4,500m² in total area, including 89 flats and 43 car parking units. The property will offer excellent amenities to its residents across almost 700m2 of communal spaces, including a restaurant, swimming pool, TV room, library, fitness room, terraces and gardens.

Cogedim Club, the developer’s in-house and senior living management operator, will manage the asset following completion of construction, which is scheduled for Q2 2024.

Located in the city-centre Capitole district of Toulouse, the asset will benefit from its excellent macro and micro location. Toulouse is the fourth largest city in France and one of the country’s most attractive urban areas, experiencing a population growth of twice the national average between 2012 and 2017. The city is well-connected to Paris via a high-speed train line and, located between the Pyrenees and the Mediterranean, enjoys a temperate climate. On a micro level, the asset is situated in one of the most sought-after and affluent areas of the city, positioned right alongside the banks of the Garonne River. The building will be well-served by close links to public transport, major road networks and Toulouse Airport.

Beverley Kilbride, Head of France and Head of Transactions & Asset Management Europe at LaSalle, said: “This is a landmark transaction for LaSalle as we drive forward our strategy to increase our footprint in alternative sectors across Europe. The market fundamentals are very strong in France, and the combination of long-term demographic changes and the shifting needs of Senior Services Residences has fuelled strong investor demand in the senior living sector over recent years. We look forward to strengthening our portfolio in this area.”

David Ironside, Fund Manager for Encore+ at LaSalle, commented: “This forward-funding deal is a significant milestone, marking our first step into the senior living sector. This forms part of our strategy to increase exposure of Encore+ to alternative property sectors, diversifying our existing asset portfolio. The senior living market is growing as citizens increasingly look to avoid social isolation later in life and reside in higher-quality, fit-for-purpose homes, which fully provide for their needs. Given the long-term letting and its pre-let status, the asset will provide secured and sustainable income for the Fund into the future.”

LaSalle was advised on this transaction by Reed Smith, KPMG, ETYO and CBRE. JLL Capital Markets Residential advised the vendor.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle“) has acquired the logistics property ”The Plus” in Bielefeld, Germany, for the French public service additional pension scheme (ERAFP). The vendor is Real I.S. AG.

Completed in 2008 and expanded in 2011, the property comprises a total area of around 31,200m2. It is divided into approximately 27,200m2 of state-of-the-art warehouse and handling space, with a total cross-docking capacity of 10,000m2, as well as 4,000m2 of office space.

Located in the east of Bielefeld, North Rhine-Westphalia, the warehouse is leased on a long-term basis to the transport and logistics company Kühne + Nagel. It benefits from excellent connections to the A2 freeway with surrounding cities including Hanover and Kassel. As well as this, the Ruhr area and the Dutch border can be reached in less than 120 minutes by car. Due to its strategically attractive location, the surrounding business park is home to numerous international companies from the industrial, logistics, wholesale, retail  and service sectors.

Mathias Malzbender, Fund Director & Head of Separate Accounts Continental Europe at LaSalle, comments: “We are delighted to have overseen the successful acquisition of this high-quality and well-situated property for our investor in a region which has experienced strong employment growth recently, as well as the significant development of this business park. ‘The Plus’ is perfectly aligned with the portfolio’s investment strategy and represents the high quality and reliability of this separate account to secure long-term and sustainable returns.”

LaSalle was advised on the transaction by Clifford Chance Deutschland LLP (Legal & Tax), Drees & Sommer (Technical, Sustainability) and BNP Paribas Real Estate (Buy Side).

Real I.S. was advised on the sale from a legal and tax perspective by the law firm Norton Rose Fulbright LLP and from a commercial perspective by CBRE GmbH. Brand Berger was active on the technical side.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) has acquired FedEx Alfortville, a cross-docking warehouse facility located in a prime urban logistics hub on the outskirts of Paris. The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund, from SCPI Accimmo Pierre, managed by BNP Paribas REIM.

Built in 2002 for TNT (now FedEx) and spanning a net lettable area of over 16,000 m², the facility provides the express delivery company with a strategic location that serves as a hub for last-mile logistics operations.

The property is located within the Val-de-Seine Park urban logistics hub, which has more than 70,000m² of dedicated logistics space and is an established location hosting other notable market players such as DHL and Kuehne & Nagel. Sitting in the Greater Paris Region within the vicinity of the A86 motorway, the property is also near Orly Airport which benefits from a cargo platform. The park can also be easily accessed by public transport and is served by a suburban train station (RER D) less than 2km away.

Beverley Kilbride, Head of France and Head of Transactions & Asset Management Europe at LaSalle, said: “The acquisition of FedEx Alfortville represents another exceptionally attractive opportunity in a key market. It is reflective of the team’s success in identifying last-mile urban logistics assets with significant growth opportunities which continue to attract strong investor demand.”

David Ironside, Fund Manager for Encore+ at LaSalle, commented: “FedEx Alfortville constitutes another meaningful development for Encore+ as we increase its exposure to urban, last-mile logistics assets in major European cities. The combination of a great location and a blue-chip tenant provides strong long-term rental income, enhancing the investment proposition and running in alignment with our overall investment strategy of diversifying our strong asset portfolio across key markets.”

LaSalle was advised on this transaction by Reed Smith, KPMG, Drees & Sommer and CBRE.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (LaSalle) announced today it has received double honors at the PERE Awards 2020, winning Firm of the Year – Japan and Firm of the Year – France.

One of the leading publications for the world’s private real estate markets, PERE has a readership of more than 35,000 professionals worldwide and the PERE awards are based on a unique industry poll that recognizes firms and individuals whose work gives shape and purpose to the sector. For a complete list of the PERE Awards 2020, visit this page.

Click the images below to learn more about our regional businesses with leadership perspectives.

Keith Fujii, Asia Pacific CEO at LaSalle, said: “We are proud to be recognized by the real estate industry as Firm of the Year – Japan. This award is a testament to our team in Japan, who completed a number of diverse real estate opportunities in major markets across the country, including acquisitions, dispositions, developments, asset management and leasing. Despite the challenging year, we were also incredibly pleased to complete the global public offering of LaSalle Logiport REIT in September, which was the first global public offering of a Japanese real estate investment since the start of COVID-19.”

Philip La Pierre, Europe CEO at LaSalle, said: “It is an honour to have won the PERE award for Firm of the Year – France and it is a reflection of our team’s determination to succeed. Being recognized by our industry peers is a huge achievement, so we are delighted to celebrate this. Our team managed several high calibre transactions in France last year, positioning the firm as one of the country’s most active investment managers. We look forward to building on this recognition, while focusing on our clients and strong performance.” 

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

JLL (NYSE: JLL) has been again named to Fortune magazine’s World’s Most Admired Companies list. The list is a major authority on corporate reputations compiled each year by Fortune and Korn Ferry through a survey of 3,820 executives, directors and securities analysts. This year, JLL was recognized for social responsibility, global competitiveness and quality of management. 

“JLL’s purpose is to shape the future of real estate for a better world, working in close partnership with our clients and all our stakeholders,” said Christian Ulbrich, JLL CEO. “We are therefore very proud to again be included on Fortune’s list of the World’s Most Admired Companies.” 

LaSalle is a wholly owned subsidiary of JLL and is proud to share in this achievement.

Read more about this award on JLL.com

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces the sale of the “Sainte-Cécile” office building in Paris to Deka Immobilien for €165 million. The asset was acquired in March 2020 on behalf of LaSalle’s pan-European open-ended fund, Encore+, as part of a sale-and-leaseback transaction with BNP Paribas that also included the [adjoining] landmark office building “Bergère”.

Located on rue Sainte-Cécile in the 9th arrondissement, in the heart of Paris, the building offers 9,400m² of rental space, as well as 109 parking spaces. It combines three adjacent buildings, originally constructed in the twentieth century, which were combined in 2004. Two cut-stone façades were retained during the redevelopment, allowing the creation of an efficient and flexible space with an average area of c.1,450m² per floor.

LaSalle retains ownership of “Bergère”, the headquarters of BNP Asset Management (formerly Comptoir National d’Escompte de Paris), located at number 14 rue Bergère. With a rental area of 26,400m², it is renowned for its striking façade and exceptional architectural features, such as the main atrium and the monumental staircase, and was the first building in France to obtain HQE certification for building quality subsequent to renovations. The surrounding area hosts a thriving cluster of technology companies and offers a large number of services and a wide range of shops, restaurants, hotels, cinemas, theatres and other amenities.

Beverley Kilbride, France Country Manager at LaSalle, said: “I congratulate our team for successfully completing this sale and executing our strategy at a time of market turbulence. The 9th arrondissement is one of the most popular districts with tenants in Paris, particularly due to the presence of major technology companies. The assets that we manage here are perfectly suited to meet the expectations of the younger generation, both today and in the future, for a central and high-quality working environment.”

David Ironside, Fund Manager for Encore+ at LaSalle, adds: “We are very pleased to have completed the sale of Sainte-Cécile, which was the final stage of our wider “Bergère and Sainte-Cécile” acquisition strategy. The resilience of the location and the rental income of Bergère, in addition to the returns from the sale of Sainte-Cécile, represent a very positive contribution to the performance of the Encore+ fund for our investors.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has advised its pan-European fund Encore+ on an acquisition of an urban logistics warehouse on the edge of Paris. The property is single let to a blue-chip tenant.

The property is located in Gonesse, a popular and well-established logistics submarket in the north of the city of Paris. It is ideally situated on the main distribution axis between north and south France, strategically located at the crossroads between the A1 and A3 motorways and close to both Paris-Le Bourget Airport and Charles De Gaulle Airport.

Gonesse’s thriving urban logistics market hosts globally renowned occupiers such as Amazon and the logistics group GEODIS. The area is also set for development as two new metro stations of the line 17 will be built in the vicinity of the property as part of the Grand Paris project. In addition, the €3bn EuropaCity project, a major retail, residential and cultural hub, is expected to be developed on the adjacent land plot.

The property is fitted to a class A specification and offers close to 25,000m² of rental space, consisting of four storage cells, 26 docking bays and office space.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is a great asset close to Paris in one of Europe’s fastest-growing logistics markets. Thanks to the significant growth of e-commerce in France – the online share of total retail sales in France is currently growing at a double-digit rate – the demand for urban logistics continues to increase. The development of the town of Gonesse will be a constraint on the supply of further logistics capacity in the area. This indicates that the asset will experience a positive supply-demand dynamic while delivering long-term secured income in the coming years.”

Beverley Shadbolt, Country Manager for France at LaSalle Investment Management adds: “After the acquisition and development of our logistics project in Tigery announced at the beginning of the year, this is another important acquisition for Encore+ that strengthens our position in the logistics sector in France. It once again proves our ability to seize excellent opportunities in France.”

LaSalle was advised by C&C (Notary), Baker McKenzie (Lawyers), Etypo (Technical) and KPMG (Tax).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce that it has acquired a serviced-apartment development pre-let to Staycity in Courbevoie, in close proximity to La Défense, on behalf of LaSalle E-REGI. It was acquired from Kaufman & Broad on a forward-funding investment (VEFA contract).

A newly-constructed building will be complete on this development in July 2021; this will form part of a c.30,000 sqm mixed-use complex called Highlight and will be comprised of three other buildings. All of these buildings will be arranged around an 850 sqm landscaped garden.

The aparthotel will be comprised of 6,313 sqm of which there will be 216 rooms spread over seven floors. The property will also benefit from various amenities (coffee shop, gym, laundry, luggage room), a private terrace and car park. It will be certified BREEAM Very Good.

Located on rue de l’Industrie in Courbevoie, the property benefits from a strategic location close to both La Défense and the Paris CBD. The property is a short walk from the “Esplanade de La Défense” metro station Line 1 and one station away from RER A express train. Both lines provide a direct link to Paris CBD and quick connection to the various transportation hubs in central Paris (Châtelet, Saint-Lazare etc.).

LaSalle E-REGI is an open-ended pan-European real estate fund (AIF), with a current AUM of €710 million. It was launched by the capital management company LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH (“LaSalle KVG”), which is 100% owned by LaSalle GmbH, and has attracted investment from a number of major institutional investors. It aims for stable income return from a diversified core portfolio (office, retail, logistics and hospitality) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI) which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term.

Uwe Rempis, Fund Manager of the LaSalle E-REGI fund at LaSalle, said: “I am delighted to announce this fourth acquisition in France, and our first in the alternatives sector in this country. This sector is a focus for the fund where we are targeting high-quality, core assets in strong locations.”

Beverley Shadbolt, Country Manager for France, added: “I am delighted with this, the French business’ first alternative investment in France. We expect this sector to perform very well in France over the coming years and as such our team has sourced this opportunity in an excellent location. LaSalle has significant experience of investing in the alternative sector across Europe and we are actively looking for similar opportunities in France.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has managed the acquisition of a high-quality office development on rue Jeanne d’Arc from AG Real Estate, on behalf of the pan-European fund Encore+; this is a forward-funding investment (VEFA contract). The property has a strategic location in the 13th arrondissement near to the world’s largest tech start-up incubator, Station F, which was opened in 2017 under the initiative of Xavier Niel.

The deal involves the development of a new 9,800 m² building, constructed with tenants in mind, who demand the highest, international-quality office space, with the principal factors being sustainability, flexibility, and quality amenities. The building offers individual and collaborative work spaces, a rooftop on the 8th floor, and private parking amongst many other amenities. It will be available for tenant occupation in the summer of 2021.

Designed by the architects Atelier du Pont, the building will comply with norms and standards relating to energy efficiency, with a high standard of sustainability and connectivity, such as standard RT 2012 -40%, HQE sustainable building passport “excellent level”, “Very Good” for BREEAM, “Gold” for WELL as well as “Gold” for WiredScore.

This office development on rue Jeanne d’Arc, and next to “Nationale” metro station (line 6), is the Fund’s eighth acquisition in France; these are a key part of Encore+’s strategy, with French offices anticipated to perform well.

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Value-add will continue to be part of the Encore+ strategy.

This development encapsulates the strategy of AG Real Estate, to position itself as a dynamic tertiary developer in the Paris market. The pipeline of development projects in the works currently stands at roughly 400,000m² for a turnover of €2 billion.

David Ironside, Fund Manager for Encore+, says: “This asset is an outstanding example of the location-focused strategy of Encore+, with strong DTU+E credentials and in a strategic location with a mixed-used environment. Our teams actively seek out opportunities in dense locations with strong demographics, technology industries, and excellent public transport connections. We look forward to welcoming our tenants in 2021.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle announces the commencement of the development of a logistics project in Tigery, France, subsequent to the acquisition of the plot by LaSalle’s Encore+ Fund. The development is scheduled for completion in Q4 2019.

The state of the art logistics warehouse is being constructed on a speculative basis and will have ca. 33,500sqm. The site is located within the Sénart logistics hub, the largest in the Paris region and second largest in France, comprising 1.4 million sqm. Located 37 km southeast of the capital, the Tigery site is close to Orly airport and benefits from excellent road access to both Paris and the southern cities of France via the Francilienne Ring Road and the A5 motorway. LaSalle will work in partnership with French developer JMG on the delivery of the logistics facility.

The Tigery development was agreed as part of a portfolio project signed with JMG in January 2018, which also included the development of a second site in the Isle D’Abeau, near Lyon, the largest logistics location in France. The development of the Isle D’Abeau site was completed in August 2018.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “We’re delighted to be making progress towards the delivery of a second Grade-A French logistics site in an excellent location, following the agreement for a portfolio development project that we struck with JMG last year and the completion of the Isle D’Abeau asset last summer. The Tigery site shares the same strong fundamentals of solid take-up, low vacancy rates and scarcity of quality supply as our property outside Lyon, offering further attractive portfolio diversification.”

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Encore+ has been a leading Fund in MSCI’s Investment Property Databank (IPD) Pan-Europe Property Funds Index (PEPFI) in terms of performance and it was recently announced as the best performing Fund in the Index for 2017 on both a one- and five-year basis. LaSalle assumed sole responsibility for the management of the Fund in late 2018.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.