Chicago, London, Singapore (October 21, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces its results from the 2024 GRESB assessment, an industry-recognized global sustainability benchmark for asset managers.

Eighteen of the firm’s funds and separate accounts, domiciled across Europe, North America, and the Asia-Pacific region, participated in the 2024 assessment, of which seven achieved a 5-star rating and five achieved a 4-star rating. Six of the firm’s funds ranked in the top three within their sector peer groups, with both LaSalle Canada Property Fund and LaSalle China Logistics Venture earning first place within their respective sector peer groups.

Those LaSalle funds that achieved a 4 or 5-star rating in the 2024 GRESB assessment are listed below:

• LaSalle Asia Opportunity Fund V
• LaSalle Asia Opportunity Fund VI
• LaSalle Asia Venture Trust
• LaSalle Canada Property Fund
• LaSalle China Logistics Venture
• LaSalle Encore+
• LaSalle E-REGI
• LaSalle Japan Property Fund
• LaSalle LOGIPORT REIT
• LaSalle Property Fund

Julie Manning, Global Head of Climate and Carbon, LaSalle commented: “LaSalle is committed to delivering upon our clients’ sustainability goals in ways that also drive investment performance, and these impressive results reflect this effort. As performance drivers, sustainability factors are key to our corporate strategy in addition to being a focus throughout our investment process. As such, we will continue to embed sustainability further into each function across our operations and maintain our position as a leader in the industry.”

ENDS

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

For more information, please visit www.lasalle.com, and LinkedIn.

CHICAGO, LONDON, SINGAPORE (January 15, 2024) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has recorded strong sustainability performance results in two industry-recognized global sustainability benchmarks for asset managers.

In the 2023 Global Real Estate Sustainability Benchmark (“GRESB”), 20 of the firm’s funds and separate accounts, domiciled across Europe, North America, and the Asia-Pacific region, have been recognized for their sustainability standards. Across the 20 submissions, seven achieved a 5-star rating, up from four in 2022, nine achieved a 4-star rating, and four achieved a 3-star rating. LaSalle China Logistics Venture was ranked 1^st place within its sector peer group, and the firm’s average score increased by nearly three points from 82.22 in 2022 to 85.15 in 2023.

LaSalle commingled products recognised within the 2023 GRESB include:

• LaSalle Asia Opportunity Fund V
• LaSalle Asia Opportunity Fund VI
• LaSalle Asia Venture Trust
• LaSalle Canada Property Fund
• LaSalle China Logistics Venture
• LaSalle Encore+
• LaSalle E-REGI
• LaSalle Japan Property Fund
• LaSalle Japan Retail Portfolio
• LaSalle LOGIPORT REIT
• LaSalle Property Fund
• JLL Income Property Trust

In addition, LaSalle has received updated scores for the 2023 ‘Principles for Responsible Investment’ (“PRI”) Assessment Report, securing four stars in the categories pertaining to Policy Governance and Strategy, Direct – Listed Equity – Active Fundamental, and Confidence Building Measures, as well as achieving three stars for Direct Real Estate.

LaSalle PRI Assessment Report results include:

• Policy Governance and Strategy: 4 stars
• Direct – Listed equity – Active fundamental: 4 stars
• Confidence buildings measures: 4 stars
• Direct – Real Estate: 3 stars

Julie Manning, Global Head of Climate and Carbon at LaSalle, commented: “LaSalle is committed to improving and delivering upon our clients’ sustainability goals in ways that also drive investment performance, and these impressive results reflect this effort. Sustainability factors are key to our corporate strategy in addition to being a focus throughout our investment process. In the year ahead, we will continue to embed sustainability further into each function across our operations and maintain our position as a leader in the industry.”

About GRESB

GRESB is an industry-driven organization transforming the way capital markets assess the sustainability performance of real asset investments. More than 900 property companies and funds, jointly representing more than USD 3.6 trillion in assets under management, participated in the 2018 GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment. GRESB data and analytical tools are used by more than 75 institutional and retail investors, including pension funds and insurance companies, collectively representing over USD 18 trillion in institutional capital, to engage with investment managers to enhance and protect shareholder value. Greater transparency on sustainability issues has become the norm, with GRESB widely recognized as the global sustainability benchmark for real assets. For more information about GRESB and its sustainability benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.

About the PRI

The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of sustainability factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its sustainability benchmarking and reporting for real estate, please visit https://www.unpri.org/  

About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $89 billion of assets in private and public real estate equity and debt investments as of Q3 2023. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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 continued to deliver upon its sustainability goals, recording improved performance in two industry-recognized global sustainability benchmarks for asset managers.

Within the 2022 Global Real Estate Sustainability Benchmark (GRESB), 18 of the firm’s funds and separate accounts, domiciled across Europe, North America, and the Asia-Pacific region, have been recognized again for their sustainability standards, further improving upon the results reported in 2021. Across 18 submissions, the firm achieved four 5-Star, eight 4-Star and six 3-Star GRESB Ratings.

LaSalle commingled products recognized within the 2022 GRESB include:

• LaSalle Asia Opportunity Fund V
• LaSalle Asia Venture Trust
• LaSalle Canada Property Fund
• LaSalle China Logistics Venture
• LaSalle Encore+
• LaSalle E-REGI
• LaSalle Japan Property Fund
• LaSalle Japan Retail Portfolio
• LaSalle LOGIPORT REIT
• LaSalle Property Fund
• JLL Income Property Trust

In addition, LaSalle has also received updated scores for the 2021 ‘Principles for Responsible Investment’ (PRI) Assessment Report, most notably securing a 5-star rating in the Investment & Stewardship Policy score, the only rating that applies across the whole of the firm. 5-star scores are reserved for asset managers that can, “demonstrate leading practices within the responsible investment industry.”

These results come following changes to the PRI’s reporting structure and scoring methodology, which included moving to a star classification system from letter classification.

LaSalle PRI Assessment Report results include:

• Investment & Stewardship Policy: 5 Stars
• Direct – Real estate: 4 Stars
• Indirect – Real estate: 4 Stars
• Direct – Listed equity – Active fundamental – incorporation: 4 Stars
• Direct – Listed equity – Active fundamental – voting: 2 Stars

David DeVos, Global Head of Sustainability at LaSalle said: “These impressive results evidenced in leading industry benchmarks demonstrate LaSalle’s commitment and expertise in delivering upon our sustainability goals. While pleasing to have secured these metrics, reinforcing LaSalle’s status as a leader in responsible real estate investment, we continue to seek opportunities to accelerate our efforts in achieving our long-term targets and achieving superior performance for our clients.”

About GRESB

GRESB is an industry-driven organization transforming the way capital markets assess the sustainability performance of real asset investments. More than 900 property companies and funds, jointly representing more than USD 3.6 trillion in assets under management, participated in the 2018 GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment. GRESB data and analytical tools are used by more than 75 institutional and retail investors, including pension funds and insurance companies, collectively representing over USD 18 trillion in institutional capital, to engage with investment managers to enhance and protect shareholder value. Greater transparency on sustainability issues has become the norm, with GRESB widely recognized as the global sustainability benchmark for real assets. For more information about GRESB and its sustainability benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.

About the PRI

The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of sustainability factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its sustainability benchmarking and reporting for real estate, please visit https://www.unpri.org/  

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”) will develop Munich’s first hybrid timber office building, in collaboration with ACCUMULATA Real Estate Group (“ACCUMULATA”). The building is being constructed on behalf of Encore+, LaSalle’s flagship pan-European fund.

Situated on Elsenheimerstrasse in the city’s Westend district, the office building will have a floor area of approximately 16,000 m2. With dismantling of the existing building on site already underway and construction due to begin in the third quarter of this year, the project is scheduled for completion during the first quarter of 2024. Lettings are already being marketed in collaboration with CBRE, the lead estate agent.

Designed by the leading Munich-based architectural firm Oliv Architekten, the asset will provide flexible, multifunctional spaces including a ground-floor café/bistro and landscaped roof terrace, as well as various wellness amenities, including a yoga studio and a relaxation lounge. Tenants will also enjoy bicycle parking, electric charging points and a smart underground car parking facility. Furthermore, the building will provide customisable office units and creative collaboration spaces, ensuring the asset is well positioned for the future.

In terms of its environmental credentials, the project meets the highest sustainability standards across all areas, including construction, materials and operations. Having already received a DGNB “Platinum” precertification, the asset will be constructed using concrete reclaimed from the existing building currently situated at this location. All materials used in construction will be documented in a material passport, showing where and how the various components were sourced and installed, ensuring they can be repurposed at the end of their service life. These measures are projected to reduce embodied carbon by up to 25%.

Embodied carbon will be low at 366kg CO2e/sqm, significantly below the RICS Building Carbon Database (offices) average benchmark of 1291kg CO2e/sqm.

The use of timber in the building’s load-bearing structure will ensure that approximately 1,100 tonnes of carbon will remain stored in the building fabric, rather than emitted into the atmosphere. During the course of the asset’s lifespan, emissions associated with the building’s operation will be reduced by 65% in comparison to a typical office building through the integration of a photovoltaic system, efficient heating, cooling and ventilation systems and the use of a ground water heat pump. The building will also harvest and store rainwater, supplying irrigation systems for the benefit of surrounding green areas.

David Ironside, Fund Manager of Encore+ at LaSalle Investment Management, commented: “This is an industry-leading and best-in-class project. The first of its kind in Munich, its design in accordance with circular economy principles and resource-conserving operation will serve as a benchmark in sustainable real estate. Located in one of the most sought-after office submarkets in Munich, the property will be extremely well placed to meet the ever-evolving demands of future tenants around sustainability, quality, amenities and infrastructure, while providing attractive long-term returns for our investors.”

Markus Diegelmann, Managing Partner at ACCUMULATA Real Estate Group, added: “The start of demolition marks an exciting first step in the development of what will be one of the most sustainable office projects in Munich. At ACCUMULATA, we aim to promote the concepts of urban mining and the circular economy within the construction sector and this project is firmly aligned with this objective. By utilising ultra-high-quality and recyclable materials, we are creating an office building that can meet occupiers’ shifting requirements, both in terms of flexible working environments and sustainability standards.”

Georg Illichmann, Managing Director at CBRE GmbH, said: “As the first hybrid timber office building to be constructed in Munich, the project achieves all the modern-day requirements tenants demand from office buildings: easy accessibility to public transport, sustainability credentials and working spaces that promote communication, creativity and innovation. The building’s use of timber, unique to the Munich office market, will not only support the building’s sustainability credentials but also the wellbeing of occupiers. At CBRE, we are proud to be leading on the marketing of this unique asset and be involved in ground-breaking project in the German real estate market as the lead estate agent.”

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 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”), the global real estate investment manager, has acquired a logistics campus in Venlo, the Netherlands, on behalf of Encore+, the firm’s flagship continental European open-ended fund.

Located in the Tradeport logistics hub in Venlo, the Netherlands’ largest logistics market and a key gateway for the European consumer goods market, the campus is situated at the intersection between the major A67 and A73 highways and is easily accessible via the Hutchinson rail terminal as well as the barge terminal. These direct connections by rail, road and river barge allow quick and easy distribution to Germany, Belgium, and France as well as other parts of the Netherlands. Venlo’s logistics market is characterised by high demand and limited supply and has consolidated strongly during the last five years.

The logistics asset currently comprises eight high-quality warehouse units and an additional warehouse which is under construction is set to be delivered by Q4 2022. This new logistics facility will have a total area of 74,000 m² and will include cutting-edge technical specifications, and strong sustainability features such as LED lighting and solar panel roofing.

David Ironside, Fund Manager for Encore+ at LaSalle, said: “The purchase of this logistics campus in Venlo on behalf of Encore+ expands our footprint in one of the most important logistics markets, not only in the Netherlands but also all of continental Europe. Having already invested in an asset in the area, we are convinced of the market’s increasing importance and potential for continued long-term growth, facilitated by outstanding domestic and international transport links.”

Jérôme Hamelin, Head of Transactions, Western Continental Europe at LaSalle: “This purchase exemplifies our investment strategy of targeting prime logistics assets in Europe in sought-after and top-of-the-range markets. The combination of strong sustainability credentials, state-of-the art building specifications and compelling market fundamentals singled this asset out as a particularly compelling investment proposition.”

LaSalle was advised on the acquisition by Solid Attorneys (Legal), Arcadis (Technical & Environmental), Deloitte (Tax) and Savills (Commercial). The vendor was advised by CMS (Legal & Tax) and TLF Real Estate (Commercial).

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 Verona DC1, a fulfillment center located in Verona, Italy, a center of strategic importance connecting northern and southern Europe. The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund, from DeA Capital Real Estate SGR, through Fondo Logita, on behalf of SEGRO European Logistics Partnership (“SELP”).

The state-of-the-art e-commerce distribution hub was built in 2019 by Vailog (a SEGRO Group Company) and comprises a lettable area of 128,000 sqm split across a ground floor area, mezzanine spaces and office and service areas. Built to the highest environmental and technology standards, the hub achieved a DGNB Platinum level certification, which recognises the environmental, economic, sociocultural, functional and technical quality of assets.

The distribution hub is situated within the economic powerhouse belt of northern Italy, which serves as a strategic gateway to the southern European market. Located in Verona, the hub benefits from excellent links to road networks connecting to France and Austria, as well as access to the European route E45, the longest north-south route in Europe. Italy has the second largest manufacturing industry in Europe and its logistics market enjoys strong fundamentals and growth prospects, due to the expected doubling of e-commerce penetration in the country by 2024.

The asset is leased to the Italian subsidiary of one of Europe’s leading online fashion retailers. As a major market player, the company has demonstrated sustained commitment to the centre by installing advanced automation and sortation systems at the site, alongside agreeing a long-term tenancy agreement.

David Ironside, Fund Manager for Encore+ at LaSalle, said: “Verona DC1 further increases the exposure of Encore+ to the fast-growing European logistics market. The transaction comes at an opportune moment as we continue to enhance our portfolio by identifying strategic assets that sustain strong and stable returns for our investors.”

Francesco Coviello, Head of Transactions for Southern & Central Europe at LaSalle, added: “This logistics asset is truly best-in-class, with outstanding sustainability credentials in a market with compelling fundamentals. This latest addition to the portfolio comes off the back of recent successful acquisitions undertaken on behalf of Encore+ across continental Europe. We look forward to continuing to grow our exposure to exceptionally attractive logistics assets.”

LaSalle was advised on this transaction by K&L Gates (legal), Studio Pirola (tax), JLL (buy-side advisory) and SPI Italia (technical and sustainability advice).

SELP was advised by Apollo & Associati (legal), Nephos and CBRE (technical), CBRE (sell-side advisory) and KPMG (tax).

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 has acquired the retail and commercial park “Las Mercedes Retail Park” in the east of Madrid on behalf of its open pan-European fund Encore+ (“the Fund”).

Completed in 2015, the retail park comprises a total lettable area of just under 22,000m². The asset is fully let and anchored by the DIY retailer Bauhaus as well as the discount grocery store Aldi. In addition to already existing solar panels, further measures to increase energy efficiency and sustainability are planned over the long term.

The property is located in the Barajas district of Madrid, within a higher-than-average income catchment area of about 440,000 inhabitants. There are numerous shopping and leisure facilities in the immediate vicinity, including the highly frequented Plenilunio shopping centre. The neighbouring Mercedes Business Park is home to more than 12,000 employees of numerous international companies such as Coca-Cola, Vodafone, Fedex and DHL.

Las Mercedes Retail Park is also located close to the airport and the A-2, M-11 and M-21 motorways. The location is less than 30 minutes by car from the centre of Madrid and has excellent public transport connections.

David Ironside, Fund Manager for Encore+ at LaSalle Investment Management, says: “With Las Mercedes Retail Park, we have identified an exceptionally attractive opportunity to increase exposure of Encore+ to high-value, income-generating retail assets with a heterogeneous industry profile and potential for alternative uses. The transaction comes at an opportune moment when the vacancy rate in Madrid is historically low while the new development pipeline is limited. The location is compelling as an established urban retail and office submarket, providing a mix of strong-performing long-term tenants which will generate diversified cash flows and sustain strong returns for our investors.”

LaSalle was advised on this transaction by Simmons & Simmons (legal & tax), Hollis Global (technical & sustainability) and RPE (commercial). The seller has been advised by Cuatrecasas (legal) and Cushman&Wakefield (commercial).

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 acquired a portfolio of three residential buildings across Copenhagen, Denmark. The assets were acquired from P+, the Danish pension fund, on behalf of Encore+, LaSalle’s Flagship European open-ended fund.

The 270 residential units that make up the portfolio are situated throughout Copenhagen, all in attractive locations with excellent amenities. Most units have balconies, and shared green areas and courtyards. Combined, the buildings also have around 1,000 square metres of commercial/retail space.

As of the purchase date, the buildings are almost fully occupied, and the Fund anticipates strong future rental income from the assets.

David Ironside, Fund Manager for Encore+, said: “We are pleased to announce the purchase of such a strongly performing residential portfolio in a leading European city. We believe well located assets such as these will continue to generate a long-term income stream for our investors complimenting the diverse return profile of the Fund.”

Alexandre Arhuis-Grumbach, Fund Transactions Manager at LaSalle, said: “We identified this specific strategy in Denmark to access high quality resilient assets such as this residential portfolio in Copenhagen, with the intention of holding them for the long term, and we are interested in exploring similar acquisition of this type.”

LaSalle was advised by Keystone Investment Management who will assist in managing these assets, Accura, KPMG and Drees and Sommer.

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 completed the purchase of a state-of-the-art logistics warehouse in the Rhine-Neckar metropolitan region, located in Ladenburg east of Mannheim in south-west Germany. The warehouse was acquired as a forward-funding deal from PGIM Real Estate and Panattoni on behalf of Encore+

The logistics property, which was completed in the summer of 2021, comprises a total of 56,864m² of multifunctional space. This extends over three units, ranging from 8,000 to almost 23,000m², which can be further divided up.  Developed with the highest standards of sustainability, the property produces part of the energy required for its running via a photovoltaic system on the roof; this provides a habitat for the locally native lizards. The lighting is provided exclusively by LED technology, and charging stations for electric vehicles have also been installed on the site. The buildings have been developed according to the DGNB Gold standards. In addition, the award of the platinum certificate has already been applied for.

The property is leased on a long-term basis to the sole user Neska Schifffahrts- und Speditionskontor. The logistics service provider is a wholly owned subsidiary of Häfen & Güterverkehr Köln (HGK).

Ladenburg is strategically located in one of the most sought-after logistics submarkets and economically strongest regions in Germany, where numerous listed corporations, small and medium-sized companies and start-ups are located. With its proximity to the major motorways of the A5, A6 and A67, connecting to the national rail network as well as to the rivers Rhine and Neckar, the location ensures excellent accessibility of important container terminals. With the inland ports of Mannheim and Ludwigshafen, the Rhine-Neckar region is an important shipment point, especially for the chemical industry, as well as being close to Frankfurt Airport.

David Ironside, Fund Manager for Encore+ at LaSalle, comments: “With this acquisition, we are increasing our allocation to the logistics sector – a segment that plays an important role in our long-term planning, not least thanks to its resilience to crises. This is because the German logistics market is on an upward trend. I am pleased for our investors that we have succeeded in acquiring this property for Encore+. Due to the long-term letting, the multifunctional space use possibilities as well as the state-of-the-art equipment, the property fits perfectly into our fund portfolio.”

Andreas Wesner, Head of Transactions Northern Continental Europe at LaSalle, adds: “The property is excellently located in an environment with scarce logistics space. The Rhine-Neckar metropolitan region is one of the strongest business locations in Germany and is also an important logistics market. As a result, the vacancy rate is low and the supply of space sizes for comprehensive ambitious projects is very limited, which is reflected not least in above-average rising rental prices. An excellent starting point from which the property as well as our investors will benefit sustainably.”

LaSalle was advised on the transaction by Hogan Lovells (Legal & Tax), Gleeds (Technical), BrandBerger (Construction Monitoring) and CBRE (Buy-Side). The property was marketed by Colliers.

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 acquired NH Collection Gran Hotel Calderon located on Ramblas Catalunya in the Ensanche district of Barcelona. The hotel has been purchased from NH Group SA on behalf of Encore+, LaSalle’s flagship pan-European fund (“the Fund”).

As the third most visited European city, with over 22 million overnight stays in 2019 Barcelona benefits from a historically strong tourism sector and the market enjoyed steady revenue-per-available-room growth over the last decade, reaching the highest average rate in the Spanish urban market in 2019. As the recovery in international travel steadily accelerates, the city is well positioned to rebuild its leisure and business travel industry as travel recovers.

The 5-star NH Calderon hotel, in the heart of the city is positioned to benefit from this strong demand to come as it is well connected to all areas of the city within a few minutes’ walk of Plaza de Cataluña and only 150m from high quality retail and Gaudi architecture of Paseo de Gracia. It is located within a 20-minute drive of the El Prat Barcelona Airport.

The acquisition highlights the Fund’s commitment to investing in good value opportunities with strong recovery opportunities in exciting urban locations. With a prime location in a global tourist city, the Gran Hotel Calderon acquisition further diversifies and strengthens the Fund’s geographic footprint.

David Ironside, Fund Manager of Encore+ at LaSalle said: “This was a rare opportunity to acquire one of the leading hotels in Barcelona, a city which has been of the strongest and fastest growing hotel markets on the continent. As we diversify geographically and increase our exposure to the alternatives sector, this asset will contribute to the Fund performance.

Francesco Coviello, Head of Transactions for Southern & Central Europe at LaSalle said: “We are pleased to be acquiring the NH Collection Gran Hotel Calderon in Barcelona as we continue to build out our European real estate presence. The combination of the hotel’s prime location, the city’s historically strong leisure sector and the pent-up demand for international travel all serve to highlight the potential this acquisition represents.”

LaSalle was advised by Hogan Lovells for Legal and Tax, JLL Hotels & Hospitality Group as a commercial advisor Hollis Global for Technical.

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 acquired the Villaverde Logistics Portfolio, comprising two new state-of-the-art logistics development projects located in Villaverde, a southern district of Madrid. The developments are targeting a BREAM Excellent sustainability standard. The developments, located at Calle San Dalmacio 17 and Avenida Real de Pinto 83 logistics parks, have been acquired via a forward funding agreement from Engel & Völkers Development Spain, part of Engel & Völkers Group, on behalf of Encore+, LaSalle’s flagship pan-European fund (“the Fund”). Completion of the two developments, which are being delivered by their former owner, is scheduled for Q1 2023.

The district of Villaverde is an attractive logistics location on the southern outskirts of Madrid, benefitting from excellent transport infrastructure, its industrial zone is surrounded by major roads allowing rapid access to several highways and strong connectivity to the city centre, as well as neighbouring municipalities and logistics hubs along the A-4 route. The site itself is particularly well connected, including via the adjacent metro station and Avenida de Andalucia, the main North-South road artery bisecting Villaverde. The scheme will entail the development of a modern Class A logistics park designed for multi-let occupation. The modular design and smaller configuration of individual modules offers occupiers greater flexibility, particularly for smaller to medium-sized firms.

The acquisition demonstrates again the ability of the Fund to invest in value-add opportunities in exciting urban locations. It also marks the return of Encore+ to the Spanish logistics development, following the successful sale of Alcala and Azuqueca De Henares in 2016. Villaverde’s attractiveness as a location and the growth in demand for last-mile facilities, particularly from e-commerce operators, combined with an extremely limited supply of both, available development land and modern suitable stock, are likely to maintain upward pressure on rents for the right quality stock.

Francesco Coviello, Head of Investment for CEE and Southern Europe at LaSalle Investment Management, said: “We are pleased to be forward-funding the development of these properties, in a very well-connected urban location serving a major European capital, as we continue the build-out of a prime European logistics portfolio. Overall, Spanish logistics assets have performed very well in recent years and we expect continued upward pressure on rents.”

LaSalle was advised on this transaction by Hogan Lovells on the legal and tax side and JLL and Tauw on the Technical and Environmental 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 has acquired a modern residential asset in the centre of Berlin on behalf of the Encore+ Fund. This is the first residential investment since the inception of Encore+ in 2006.

This is Encore+’s first residential investment and is a result of the Fund’s strategy to increase its exposure to alternative assets, particularly in the strongest Western European cities. Berlin has seen a major uplift in demand as the city’s status has risen in recent years, driven by its success as a hub for digital and creative industries as well as the expansion of Government departments returning to the City. Furthermore, it was recently ranked the world’s most liquid commercial property market.

Located at Lindenstrasse 73-75b, the residential asset was constructed in 2014 and consists of approx. 200 units, each with a balcony or a terrace, and offers underground parking. It is centrally situated in Berlin’s popular Kreuzberg district, one of the most attractive and lively neighbourhoods in the city with a mix of offices, retail, gastronomy, and cultural attractions. The asset lies in an excellent location, only a short walking distance from Gendarmenmarkt and Checkpoint Charlie.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “We are really happy to continue our asset typology diversification thanks to this acquisition. This is an exciting first residential investment that will provide Encore+ with long-term stable income. Berlin’s residential market is highly liquid and offers a very beneficial supply/demand dynamic, with current supply covering less than 1 per cent of actual housing demand.

Andreas Wesner, Head of Investment for Germany at LaSalle Investment Management, said: “This is the ideal first residential investment for the Fund since it is a modern building in an excellent location in Berlin. In the past months we were refining Encore+’s investment strategy in the residential segment and Lindenstrasse 73-75b fulfils all our targeted criteria. The asset is a great starting point for building up a portfolio of similar assets for our investors.

LaSalle was advised on this transaction by Mayer Brown LLP (Legal), Arcadis (Technical), CBRE (Buy side) and Cushman & Wakefield (Valuation). The seller was advised by Greenberg Traurig LLP (Legal) and Colliers (Transaction Broker).

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, 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, the global real estate investment manager, announces the acquisition of an urban logistics facility north of Rotterdam, The Netherlands, on behalf of its pan-European fund Encore+, which increases the Fund’s exposure to the Dutch logistics market, one of the biggest in Europe. The asset has been acquired from ULP Bleiswijk B B.V., a joint venture between USAA Realco Europe B.V. and Somerset Capital Partners B.V.

The Bleiswijk Urban Logistics Center is very well located in the Randstad area, considered one of the most important logistics hubs in The Netherlands. It is 15km from the Port of Rotterdam, the busiest port in Europe that serves more than 500 million consumers across Europe, and is within reach of Amsterdam, The Hague and Utrecht as well as much of Western Europe. Take-up of Dutch logistics has increased 14% year-on-year but with federal planning restrictions limiting the development pipeline, rental growth, which is currently at 3.8%, is expected to continue.

The property offers over 60,000 m2 of flexible rental space, which can be easily adapted to changing tenant demands and target a wide range of occupiers. The building is currently very diversified, with tenants including the Dutch supermarket group Detailresult Group and Gist Nederland, the global logistics firm.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “Following the acquisition of numerous logistics assets in close proximity to some of Europe’s largest cities in 2019, this deal illustrates Encore+’s ongoing strategy of increasing exposure to strong logistics locations with limited supply. Across Europe we are seeing that the growth of e-commerce is driving demand for logistics and we expect this to continue, especially in The Netherlands where online sales account for only about 10% of total retail sales and are forecast to grow significantly in the next few years.”

LaSalle was advised on the acquisition by SOLID. Attorneys (legal), Drees & Sommer (technical) and Deloitte (tax). The seller was advised by Loyens & Loeff (legal), CBRE and 3Stone Real Estate (agents).

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 the acquisition of two hotel properties in Munich from Commerz Real.

The site is located in the economically vibrant north of Munich, within one of the fastest-developing micro locations in the city, with several commercial and residential developments, including the planned Knorr-Bremse area development. The site comprises both an Ibis budget and Adagio access hotel with a total of 322 rooms, c.10,000m² of rental space and direct public transport links with the metro to Munich city centre.

Munich is a leading business destination in Western Europe, the third largest German city with 1.54 million inhabitants and the fastest-growing city in Germany. It is also one of the leading tourist destinations in Europe, having received 8.2 million visitors in 2018.

The acquisition is the first hotel investment for Encore+, following its strategy to further diversify the fund by acquiring alternative assets, notably leased hotels in the strongest Western European cities. The Munich hotel market is a national leader in terms of Average Room Rates, Revenue Per Available Room (RevPAR) and adherence to LaSalle’s proprietary “DTU+E” criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment. It follows the Fund’s prior acquisitions in Munich of Westend Yards in March 2019 and the ElseBella portfolio of two office properties in December 2018.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “We are delighted to have made this acquisition. Munich is a leading European business and tourist hub. The site has excellent public transport and an outstanding track record. Munich has higher occupancy rates than the average German budget market and is growing rapidly. Our investment adds both diversity and exposure to Munich’s hotel market, offering returns to complement the portfolio.”

Andreas Wesner, Head of Investment for Germany at LaSalle Investment Management, said: “This is our first move into the alternatives market, and an important acquisition for Encore+. The assets have a particularly resilient track record in a hotel market benefiting from strong tailwinds, where the key performance metrics already surpass the national average. We’re very pleased to have been able to complete this acquisition on behalf of our investors.”

LaSalle worked on the transaction with Greenberg Traurig (Legal & Tax), Arcadis (Technical), Knight Frank (Valuation) and Colliers International (Buy-Side Advice). The seller was advised by CBRE and Taylor Wessing (Legal & Tax).

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 has advised on the acquisition of a highly visible office building located in Hamburg`s City South, Hamburg´s second largest office submarket, located adjacent to the CBD on behalf of the Encore+ fund.

Economic Quarter is a newly-refurbished, highly visible office spread over 28,000m² and ten floors. It also comprises a showroom for Mercedes Benz. City South is currently one of the fastest developing submarkets and is emerging as a major business location, attracting a wide range of companies from the financial, consulting and IT sectors as a headquarters location. The area provides excellent public transportation and amenities. The overall quality of this important market has also profited from recent large-scale residential developments, turning City South into a more lively and attractive location.

The total office take-up in Hamburg has been strong and steadily increasing over the last decade. Hamburg’s vacancy rate has been decreasing since 2015 and is approaching a five-year low. At the end of Q2 2019, modern office space available for immediate leasing amounted to 398,000m² in Hamburg, which constituted 2.9% of the total stock.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “I am delighted that we have agreed to acquire the Economic Quarter, which fits well within Encore+’s strategy to acquire asset high quality properties in major cities in Western Europe. Hamburg is a new market for Encore+ and one of the top German office markets, providing further diversification within Germany. The high quality of the tenants provide secure income in this asset, in a location with excellent access and in addition the opportunity to capture rental uplift.”

LaSalle was advised by Mayer Brown (Legal&Tax); Drees & Sommer (Tech); Linklaters (Antitrust legislation); Howden (Insurance Broker); Liberty, Lloyds (Insurance); Colliers (Buy-side adviser); Colliers (Valuation); and CBRE (RCA Report).

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, has managed the acquisition of a large logistics property in south-west Warsaw on behalf of the Encore+ fund. This property has been developed by Panattoni Europe, the largest logistics developer in Europe.

Panattoni Park Warsaw West was completed in 2017 and provides over 43,000m2 of rental space, with more than 380 parking spaces and 79 loading docks. The site, which has best in class technical specifications, consists of seven units and offers a flexible layout that is adaptable to the needs of medium to large size occupiers. Current tenants include Rhenus Group, the major international logistics services provider, and Nunner, one of Europe’s largest logistics services firms.

The asset is located in Grodzisk Mazowiecki, a suburb of Warsaw that is 35km from both Warsaw City Center and Chopin Airport Warsaw. It is situated near to the A2 motorway, which is a strategic transport route between Warsaw and Lodz, the two most important cities in Poland for logistics, and links Poland directly to Western Europe through Berlin. Panattoni Park is set to benefit from road infrastructure improvements, with the number of lanes on the A2 motorway soon to increase and improvements to internal connectivity into Warsaw also underway.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is another important acquisition for Encore+ that increases its exposure to logistics in Warsaw, the fastest-growing market in Poland, through an asset with excellent specifications and connections. The Warsaw logistics market is experiencing year-on-year decreases in vacancy rates, with the current rate at 4.8 per cent. When combined with expected constraints on development in the area due to increasing construction costs and legislative pressures, this indicates that the asset is set to experience a favourable supply-demand dynamic in the future.”

LaSalle was advised by JLL, Trebbi Poland, EY and Allen & Overy.

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 has managed the acquisition of an office building, Wronia 31, with excellent sustainability credentials in Warsaw’s City Centre west zone from Ghelamco, on behalf of the pan-European fund Encore+. This dynamic market is the fastest developing market and is emerging as a major business location in Warsaw.

This asset is a newly built high-quality office building of 16,667 m² over 14 floors, with a multi-tenant structure. Wronia 31 is located in an area with very strong tenant demand from blue chip companies and situated right next to the Warsaw Spire and to a variety of public transport options. The building benefits from an Outstanding BREAAM rating and recently won the international BREEAM Awards 2019 competition in the category of Regional Award Central and Eastern Europe.

Total office take-up in Warsaw has been strong and steadily increasing over the last decade and is forecasted to further increase annually by 4 to 5 per cent for the next three years on the back of constant growth of office-based employment. The strong demand Warsaw is experiencing is driven by economic growth, the availability of a skilled workforce and a growing number of students, all– key factors for international companies moving to Poland. The total volume of leasing transactions reached over 600,000m² by the end of 2018.

David Ironside, Fund Manager for Encore+, says: “This is an excellent acquisition for Encore+ where the asset characteristics of geography, sector and micro-location are all in line with the Fund’s investment targets; moreover it increases our exposure to the growing Central European office market and the economic growth in Warsaw.”

Francesco Coviello, Head of Transactions for Central and Southern Europe at LaSalle, says: “This is a very well-located asset in an area with much lower vacancy rates than the rest of Warsaw. As such this is an excellent fit for LaSalle’s flagship pan-European fund and highlights our local knowledge in Poland and our ability to source high quality assets.”

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 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 has acquired Westend Yards, a Munich office property, on behalf of the Encore+ fund, its Pan-European core fund.

Westend Yards is a six-storey office building with a net lettable area of over 31,000m², situated on Hansastrasse in Munich’s Westend district, a major office location adjacent to the CBD with strong public transport and road connections. The property is currently fully let to multiple tenants, including the Fraunhofer Institute, Europe’s largest organisation for applied research and development services with over 25,000 employees. In the long term, LaSalle will explore options for refurbishing or redeveloping Westend Yards to increase the total rental area and upgrade amenities.

The proposed acquisition would increase the Encore+ exposure to the Munich office market by ca. EUR 134 Million, which is a national leader in terms of demand, low vacancy and adherence to LaSalle’s proprietary “DTU+E” criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment. It follows the Fund’s acquisition of the ElseBella portfolio of two office properties in Munich for €169 million in December 2018. With Else also located in the Westend district, 750 metres away on the adjoining Elsenheimerstrasse, Westend Yards represents a second investment for the fund in a submarket subject to particularly high take-up levels and limited immediate and future supply.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is another important acquisition for Encore+ that extends our strategy of increasing the fund’s exposure to the German office market, which we regard as one of the most attractive in Europe in terms of the supply-demand dynamics. Like the ElseBella office portfolio that we recently acquired, Westend Yards is a particularly well-located property which stands to benefit from Munich’s leading take-up and low vacancy rates – even relative to Germany as a whole – and therefore sustainably appreciate by capturing future rental growth. We are pleased to have secured another asset that we expect to deliver strong and stable returns to our investors in Encore+.”

LaSalle worked on the transaction with Hogan Lovells (Legal & Tax), Drees und Sommer, BrandBerger (Technical & Environmental), Colliers International (Valuation), Howden (W&I Insurer) and JLL (Buy-Side Advice & Property Management).

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 announces that the value of its actively managed assets under management in Continental Europe has risen to €7 billion, representing a year-on-year net increase of €1 billion. The German KVG business currently at €1.18 billion AUM, having grown by 23 per cent in 2018.

LaSalle operates three distinct Core, Core+, and Value-Add investment strategies in Continental Europe, making direct private-equity investments in commercial property on behalf of institutional clients whose capital is managed across nine active mandates, including its flagship pan- European open-ended Fund, Encore+. The German market accounted for €330 million of LaSalle’s Continental European investments in 2018, including the acquisition of the ElseBella office portfolio in Munich for €169 million by Encore+, maintaining the upward trajectory in the value of LaSalle’s annual investments in Germany. In the French market, in 2018 LaSalle passed the threshold of having invested €1.5 billion in properties over the past three years, including an iconic core retail asset in Toulouse for E-REGI for €24 million.

Having already signed a record value of new leases across its Continental European portfolio in 2017, LaSalle saw a year-on-year increase of over 200% of rent generated. With office supply remaining scarce and e-commerce continuing to drive occupier demand for logistics properties in the firm’s target Continental European markets, LaSalle expects to achieve further rental growth across its portfolio while continuing to acquire office and logistics assets in 2019.

Philip La Pierre, Head of Continental Europe at LaSalle Investment Management, said: “This has been a record year for our business with strong performances across all of our accounts and are starting the year strong with a secure pipeline of €500 million. Moreover, we have effectively deployed capital for our clients across various sectors on the Continent and are confident that localised real estate markets will remain strong in 2019 for further investment.”

In 2018, LaSalle assumed sole responsibility for the management of Encore+, the open-ended Continental European real estate fund focused on improving assets and creating growth by actively managing assets to deliver superior income returns, which had previously been jointly managed by LaSalle and Aviva Investors. Encore+ is part of MSCI’s Pan-Europe Property Funds Index (PEPFI) and was recently announced as the best performing fund in the Index for 2017 on both a one- and five-year basis. In addition, the LaSalle E-REGI European commingled fund recorded a substantial increase in its sustainability credentials last year, as measured by the 2018 Global Real Estate Sustainability Benchmark (GRESB), the global sustainability benchmark for real assets.

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.

LaSalle has acquired ElseBella, a portfolio of two office properties in the Westend and Arabellapark districts of Munich, on behalf of the LaSalle Encore+ Pan European Fund from AXA Investment Managers for €169m.

Else comprises two office buildings with a combined rental area of over 25,000m² situated on Elsenheimerstrasse in Munich’s Westend district, a major office location adjacent to the CBD, with outstanding public transport and road connections. Bella is a seven-storey office building with a lettable area of over 15,000m² located in the heart of Arabellapark, one of Munich’s most popular and established office submarkets to the north-east of the CBD. Both properties are let to multiple tenants and Else has potential for redevelopment.

The Munich office market is a national leader in terms of demand, low vacancy and adherence to LaSalle’s proprietary DTU+E criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment. Within this market, the Westend and Arabellapark submarkets are subject to particularly high take-up levels and limited immediate and future supply.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is an exciting acquisition for Encore+ that increases the fund’s exposure to the German office market whilst also meeting the fund’s criteria of investing in assets in attractive locations with fundamentals which we believe have the potential to underpin future rental growth. With Munich currently exhibiting some of the highest take-up and lowest vacancy rates in Germany, we expect these properties in two of the city’s most established office submarkets to deliver strong and stable returns for Encore+ investors in the long term.”

LaSalle worked on the transaction with Linklaters (Legal/Tax), Unicredit (Lender), JLL (Technical, Non Rec’s & Buy-Side), Howden (W&I Broker), Ambridge (W&I Insurer), Oliv Architekten (Architect) and CBRE (Valuation). AXA Investment Managers was advised by Colliers (Broker), Möhrle Happ Luther (Legal), BrandBerger (Technical) and Sabine Houben (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. Encore+ is part of MSCI’s Pan-Europe Property Funds Index (PEPFI) and it was recently announced as the best performing fund in the Index for 2017 on both a one- and five-year basis.

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.