LaSalle holds $300m first close for value-added fund
LaSalle Investment Management has raised $300 million of capital commitments for its Income & Growth Fund VII, the latest fund in LaSalle’s Income & Growth Fund Series. Approximately 85 percent of the capital was raised from institutional investors who had invested in previous funds Income & Growth fund series. LaSalle Income & Growth Fund VII invests in high-quality properties with significant opportunities to add value in the noncore office, retail, industrial and multifamily market segments across the United States. Income & Growth Fund VI closed in 2011 with more than $362 million in equity commitments, according IREI’s FundTracker database. An asset in the fund’s portfolio is the 21-building, 1.2 million-square-foot Precedent Office Park in the Keystone Crossing submarket of Indianapolis. And recently, LaSalle closed its first U.K.