LaSalle closes its first dedicated China logistics vehicle
LaSalle Investment Management has closed its first dedicated China logistics vehicle, LaSalle China Logistics Venture fund (LCLV), with $972 million in capital commitments.
LCLV will invest across tier 1 and 2 cities in China’s key logistics regions, including the Yangtze River Delta in Greater Shanghai, Bohai Bay in Greater Beijing, and Greater Bay in South China. The fund’s strategy is to develop and construct a diversified portfolio of modern logistics facilities in markets with strong fundamentals. It also will seek to buy and reposition underperforming logistics assets.
LaSalle said the fund also will look to invest in cold-chain logistics that benefit from increasing demand from the fresh-food sector in China.
According to industry sources, LCLV and its co-investment vehicle have committed $423 million already across 15 investments, including three recent acquisitions in Shanghai, Nanjing and Tianjin.
IREI understands the fund is targeting $1 bi