Baltimore Fire and Police commits $30m to LaSalle Income & Growth Fund

The Baltimore Fire and Police Retirement System has committed $30 million to LaSalle Income & Growth Fund VIII, according to board meeting documents.

LaSalle Income & Growth Fund VIII is managed by LaSalle Investment Management, a global real estate investment manager. The fund held a $604 million first close in February. LaSalle Income & Growth Fund VIII is a U.S. value-added, noncore real estate fund seeking to raise a maximum of $1.5 billion. Through the fund, LaSalle will allocate across the four main property types, including apartments, office, retail, and industrial across primary and secondary markets in the United States, but is particularly focused on assets that are more linked to demographic trends as a return driver, rather than GDP growth, according to board meeting documents from the Ventura County (Calif.) Employees’ Retirement Association.

Within multifamily, LaSalle believes housing choices will be driven by age and phase of life. The