LaSalle Investment Management has completed the first close of its fourth fund in its flagship LaSalle Real Estate Debt Strategies series (LREDS).
The vehicle, known as LaSalle Real Estate Debt Strategies IV (LREDS IV), has raised €435 million ($509 million) of commitments against a target of €1 billion ($1.2 billion).
The investor base consisted of both existing and new investors in the LREDS series, including a broad range of pension funds and insurance companies across Europe and Asia.
“We continue to see strong demand for LREDS IV from investors who are attracted to the downside protection in light of the uncertainty due to the pandemic while still aiming to generate healthy current returns,” said Ali Imraan, managing director and fund manager for LREDS IV. “We are already seeing some compelling opportunities given that the traditional banks remain relatively cautious while it also allows us to wait and take advantage of any dislocation opportuniti
