LaSalle Investment Management collects $289m for open-end Japanese fund

LaSalle Investment Management has raised JPY33 billion ($290 million) in blind-pool capital for its flagship open-end fund, LaSalle Japan Property Fund (LJPF).

LJPF opened to investors in November 2019 with the intention of investing in the logistics, residential, retail and office-asset classes in the major metropolitan areas of Tokyo, Osaka, Nagoya and Fukuoka.

A diversified group of domestic investors consisting of financial institutions, pension funds and operating companies have contributed to the diversified core fund.

“We believe that logistics facilities and residential assets in major metropolitan areas continue to be one of the promising investment opportunities in the current COVID-19 situation,” said Ryota Morioka, executive officer at LaSalle Investment Management, LJPF fund manager. “We will continue to acquire high-quality assets selectively and we aim to achieve JPY 200 billion GAV ($1.75 billion) in the near term, and JPY 300 billion GAV (