LaSalle completes final close of its China Logistics Fund at US$972 million

LaSalle announces the final close for LaSalle China Logistics Venture (“LCLV” or the “Fund”) and its co-investment vehicle with total committed capital of US$972 million raised. The Fund and its co-investment vehicle had received initial capital commitments of US$681 million at its first close last year.

LCLV is LaSalle’s first fund dedicated to the China logistics sector, investing in modern logistics properties in markets with strong fundamentals. The Fund has seen strong support from a diverse group of new and existing global investors, attracting capital from North America, Europe, the Middle East and Asia.

The completion of the capital raise comes as the Fund and its co-investment vehicle have already invested and committed US$423 million across 15 investments. This includes three recent acquisitions in Shanghai, Nanjing, and Tianjin. The Fund is expected to have investment capacity of up to USD 2.5 billion.

LCLV invests across Tier I and Tier II cities located in China’s key logistics regions, including the Yangtze River Delta (Greater Shanghai), Bohai Bay (Greater Beijing) and the Greater Bay Area (South China). The Fund seeks to acquire and develop a diversified modern logistics portfolio in markets with strong fundamentals, capturing attractive development margins. LCLV also seeks to acquire and reposition underperforming assets. In addition, the Fund will focus on investing in cold chain logistics, benefiting from the rising demand from the fresh food sector in China.

Keith Fujii, Head of Asia Pacific, said: “China has always been a key growth market for LaSalle. The successful close of LCLV will allow us to pursue compelling investment opportunities and expand our on the ground investment footprint, drawing upon our regional resources and local expertise in the sector. We are pleased to deepen our commitment to our China business with the close of our new Fund.”

Claire Tang, Co-CIO, Asia Pacific and Head of Greater China, said, “The China logistics sector continues to be underpinned by solid fundamentals – strong domestic consumption coupled with a rapid acceleration in e-commerce adoption post-Covid. The successful closing highlights our strong track record, the market opportunity, and endorsement on our investment approach. With our experienced team, we are well-positioned to source and execute on the best opportunities.”

LaSalle has a long track-record of success in the Chinese logistics sector, with more than US$2.1 billion of transactions completed since 2008. LaSalle currently manages over US$6billion of logistics investments in Asia, across key markets including China, Japan, Korea and Australia.

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.