LaSalle provides whole loan for Belgian self-storage portfolio after raising additional €300m

LaSalle Investment Management has provided a whole loan facility to a self-storage joint venture between the global investment firm The Carlyle Group and Safestore Holdings plc.

The whole loan will finance the acquisition and capital expenditure of a portfolio of six self-storage properties in Belgium from Lokabox, a self-storage business.

The six properties — two of which are located in Brussels, two in Liège, one in Charleroi and one in Nivelles — offer a combined 20,600-square-meter (222,000-square-foot) maximum lettable area of self-storage space to residential and commercial customers. LaSalle also supported Carlyle and Safestore’s acquisition of a portfolio of six self-storage units in the Netherlands in August 2019.

LaSalle extended the loan through the recently expanded LaSalle Whole Loan Strategies program after raising a €300 million ($337 million) top-up to the platform, alongside the original €600 million ($674 million) announced in May 20