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LaSalle to sell logistics portfolio to Japanese investors
Chicago-based LaSalle Investment Management will be selling eight logistics assets in Japan to a group of Japanese institutional investors for $900 million. The sale of these properties, which are located in central and greater Tokyo, is expected to be finalized in approximately 10 weeks.
The portfolio is part of LaSalle’s opportunistic fund Japan Logistics Fund II, which invests in prime warehouse assets in Japan, confirms Stefanie Murphy, communications director at LaSalle. The fund made a previous portfolio sale; a joint venture between China’s sovereign wealth fund China Investment Corp. and Singapore’s Global Logistics Properties paid $1.6 billion for 15 logistics properties in 2011.
Japan Logistics Fund II closed in 2007, raising $908 million from 27 investors. At final