LaSalle closes largest fund in flagship European debt fund series

LaSalle Investment Management has closed its latest real estate debt fund, LaSalle Real Estate Debt Strategies IV (LREDS IV), with €1.1 billion ($1.3 billion) of capital commitments and side-car investments.

LREDS IV exceeded its fundraising target, making it the largest fund in LaSalle’s flagship European debt fund series. The fund attracted both re-ups and new commitments from institutional investors located across Europe, the Middle East and Asia Pacific.

The vehicle will provide flexible capital solutions to institutional real estate sponsors across Europe in the form of whole loans and mezzanine debt in all major asset classes and Western European countries.

The fund closing follows two recent key senior hires: David White and Michael Zerda, who is rejoining LaSalle from Blackstone to oversee the firm’s debt and value-add equity strategies in Europe.

“We are pleased to have surpassed our €1 billion [$1.2 billion] target raise on LREDS IV, w