Lasalle launches e500m European property fund
EUROPE – Lasalle Investment Management (LIM)has launched its new €500m Euro Growth II fund, a real estate investment fund to be invested in properties across Western Europe.
The launch coincides with the recent senior appointments of Simon Morrison to LIM’s Paris office and David Ironside to its Munich office, as reported by IPE-Newsline.
The new fund, expected to have its first closing this Autumn, will be invested mainly in the Euro-zone countries of Belgium, France, Germany, Italy, the Netherlands and Spain.
The fund will be managed following a moderate risk, income and growth strategy and will take advantage of industry trends as identified by LIM. These include:
•the growing desire of corporations to sell non-care real estate assets
•a continued shortage of modern and efficient office, warehouse and retail space creating redevelopment opportunities
•growing cross border investment within Europe
•attractive yields relative to borrowing rates.