QuadReal Property Group has formed a strategic partnership with LaSalle Investment Management that will recapitalize a $495 million portfolio within QuadReal’s direct U.S. industrial platform.
The high-quality, state-of-the-art U.S. industrial portfolio includes 11 assets, totaling 3.3 million square feet across major population centers near critical infrastructure in five states including Georgia, Pennsylvania, New Jersey, Texas and Washington state. LaSalle will acquire a 49 percent interest in the portfolio, with QuadReal retaining majority ownership and continuing to manage the assets on behalf of the partnership.
“This partnership capitalizes on QuadReal’s direct operating capabilities, the very intentional portfolio we have built, and it reinforces our deep conviction in the Industrial sector,” said Jamie Weber, head of Americas for QuadReal. “We look forward to deepening our relationship with LaSalle, a likeminded and long-term oriented investor.”
