LaSalle will target €1b for new real estate debt fund
LaSalle Investment Management is eyeing €1 billion ($1.1 billion) in capital for its new real estate debt fund, LREDS IV, scheduled to launch later this year, a spokesperson for the firm confirmed in an email.
LaSalle’s debt investments and special situations team invests across western Europe for its real estate debt fund series, lending against assets which offer compelling risk-adjusted returns across mezzanine and whole loan investment opportunities.
Of the more than £800 million ($977 million) raised for the fund’s predecessor, LREDS III, £360 million ($439 million) of loans have been committed to date this year, putting it ahead of its deployment schedule.
LaSalle, acting through LREDS III, recently provided more than €200 million ($244 million) of mezzanine loans to funds managed by Blackstone to finance three portfolios of last-mile logistics and industrial assets.
The portfolios contained 264 assets located in key urban neighborhoods th