LaSalle launches first Canada-focused open-end real estate fund
LaSalle Investment Management has launched its first open-ended real estate fund targeting core properties in major markets across Canada.
The fund, LaSalle Canada Property Fund, is targeting commitments from Canadian and global institutional investors seeking access to the Canadian real estate market through a diversified, income-oriented vehicle.
LCPF has been seeded with a core portfolio of assets valued at C$440 million ($342 million) of initial contributions from a long-term and sophisticated institutional investor. The fund has C$310 million ($241 million) of assets available in subsequent transfers, creating a near-term pipeline of properties to be added in the future. In this way, the fund will provide investors with immediate exposure to a diverse and mature portfolio comprised of office, industrial and multifamily assets located in top Canadian cities including Vancouver, Toronto and Ottawa.
“The creation of LaSalle Canada Property Fund advances our