LaSalle awarded $1b U.K. property mandate
LaSalle Investment Management has won a £750 million ($1.2 billion) mandate from the U.K.-based Greater Manchester Pension Fund. The mandate involves growing an existing balanced portfolio of commercial property in the United Kingdom, and will initially target assets of up to £75 million each.
The new mandate follows a $1 billion U.S. real estate mandate from another European institutional investor. And in May, LaSalle received an additional €150 million ($207 million) mandate from German pension fund Bayerische Versorgungskammer to invest in global real estate securities.
In other news LaSalle has raised $1 billion in equity since the beginning of 2014 for its Asia Pacific investment strategies and