LaSalle closes LREDS IV at €1.1bn
LaSalle has announced the final close for its latest real estate debt fund, raising €1.1bn (£941m).
The LaSalle Real Estate Debt Strategies IV fund exceeded its target capital raise, making it the largest fund in LaSalle’s flagship European debt fund series. The fund attracted commitments and re-ups from institutional investors, as well as new investors from Europe, the Middle East and Asia Pacific.
The fund will provide whole loans and mezzanine debt in all major asset classes and across Western Europe.
LaSalle has announced the final close for its latest real estate debt fund, raising €1.1bn (£941m).
The LaSalle Real Estate Debt Strategies IV fund exceeded its target capital raise, making it the largest fund in LaSalle’s flagship European debt fund series. The fund attracted commitments and re-ups from institutional investors, as well as new investors from Europe, the Middle East and Asia Pacific.
The fund will provide whole loans and mezzanine debt in all major asset classes and across Western Europe.
LaSalle recently boosted its Debt Investments platform with two senior hires, LREDS managing director David White and Michael Zerda, who has rejoined from Blackstone to oversee LaSalle’s debt and value-add equity strategies in Europe.
The fundraise brings LaSalle’s gross loan origination capacity in Europe to more than €4bn.
White said: ”We have an exemplary team of lending professionals backed by an impressive track record and strong borrower and bank relationships across Europe. We are well equipped to offer bespoke and creative capital solutions for our borrowers across a wide array of asset classes and jurisdictions.”
Amy Klein Aznar, executive chair of debt and value-add strategies at LaSalle, said: “We are pleased to have surpassed our €1bn target raise on LREDS IV which could not come at a better time, having recently strengthened our senior leadership team with Michael Zerda and David White. Our team is very well positioned to invest our significant dry powder across LaSalle’s various real estate credit strategies.”
Zerda said he was “humbled” by the level of support from investors and excited for the opportunities ahead. This latest fundraise has added to the scale of LaSalle’s real estate credit business, allowing us to engage on a wider range of opportunities across Europe.”
Since 2010, LaSalle’s European Debt Investments platform has invested more than €4bn in 89 individual transactions with a gross value in excess of €22bn as of September 2021.
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