LaSalle raises $283.3 million for value-added fund
LaSalle Income & Growth Fund VI, managed by LaSalle Investment Management, has raised approximately $283.3 million, according to a filing with the Securities and Exchange Commission. The fund was launched in 2011 with a $650 million fundraising goal. The filing did not disclose a final close date.
The fund is a value-added vehicle with a “build to core” investment strategy focused on capitalizing on the current and growing demand for core real estate by pursuing noncore properties, such as suburban office, CBD office, industrial and retail properties, that can be renovated, redeveloped or repositioned and later sold to core buyers. Primary locations are major metropolitan areas, as well as select secondary markets.