Real estate asset manager LaSalle Investment Management Inc. announced that it secured $700 million in commitments from institutional investors for a real estate debt strategy.
The strategy will docus on lending to multi-family properties and multi-tenant industrial properties in growth markets across the U.S. Since originating investments in March, LaSalle has closed more than $400 million in loans and expects to close another $300 million in the third quarter.
“The team views the current market environment as well-primed for private real estate debt strategies, with elevated capital needs, tighter bank lending, stabilized interest rates, and real estate repricing largely complete,” LaSalle stated in its announcement. “Amid ongoing macroeconomic uncertainty, private credit continues to offer investors compelling opportunities and attractive risk-adjusted returns.”
Limited partners in the strategy include pension and insurance funds from the U.S., Canada and Australia.
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“We have seen increasing demand from both borrowers and credit investors, creating a strong deployment environment at attractive basis and compelling risk-adjusted returns,” said Brad Gries, LaSalle’s head of the Americas, in a statement. “We continue to believe there is a permanent place for real estate credit in diversified investor portfolio construction.”
As of the end of 2024, LaSalle managed $82.3 billion in real estate equity and debt investments.
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Tags: LaSalle Investment Management, Real Estate
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