SOURCE: LaSalle Investment Management

LaSalle Investment Management

October 16, 2014 17:00 ET

LaSalle Investment Management Awarded New $575 Million Mandate to Invest in U.S. Industrial Development

CHICAGO, IL--(Marketwired - Oct 16, 2014) - LaSalle Investment Management ("LaSalle"), a leading global real estate investment manager, today announced it has been awarded a mandate with gross investment capacity of approximately $575m to invest in U.S. industrial development on behalf of a large U.S. public pension fund, a long-time LaSalle client.

Jason Kern, Americas CEO, LaSalle, said: "End-user demand for industrial real estate is very strong right now, driven by growing GDP and global trade and the need for modern buildings that are part of an efficient supply chain. LaSalle's deep knowledge and experience investing in and developing industrial real estate ensure that our team is uniquely positioned to help our client achieve its investment goals."

Julie Manning, Portfolio Manager, LaSalle, said: "LaSalle will focus on investment opportunities to develop and lease large, modern distribution buildings in major population centers with strong transportation infrastructure. The investment strategy will enable LaSalle to assemble a U.S. warehouse portfolio on behalf of our client in primary distribution markets to own long-term."

According to LaSalle's Research & Strategy team, the availability rate for industrial supply has fallen by 2.2 percent since the fourth quarter of 2012 and 4.2 percent since 2010. In addition, rent growth is projected to increase nationally over 3 percent annually, with higher forecast rental growth in top markets as compared to long-term averages. The increasing popularity of internet retailing and a focus on improving supply-chain efficiencies by larger multinational retailers is also positively impacting demand for industrial real estate.

About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers with approximately $53 billion of assets under management (as of June 30, 2014) of private and public real estate property and debt investments. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. Managing capital for institutions and private investors all over the world, LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle is an independent subsidiary of JLL (NYSE: JLL), one of the world's largest real estate companies. For more information please visit www.lasalle.com.

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