LaSalle Investment Management’s flagship core open-ended US property fund’s gross asset value (GAV) has now reached $5.6bn (€5bn), according to sources.
The GAV of LaSalle Property Fund (US) as at the third quarter of 2017 was $3.9bn and the fund has outperformed the ODCE Index over one, three, five and seven years.
According to Kansas Public Employees Retirement System (PERS) it recently made a $65m follow-up commitment into the LaSalle fund. The $19.3bn (€17.2bn) pension fund has been backing the fund since it was first established in 2009.
The fund acquires office, industrial, retail and apartments with some limited exposure to speciality property types like medical office buildings and self-storage assets.
LaSalle declined to comment when contacted for this story.
Kansas PERS, which has earmarked $200m for core real estate investments this year, said the amount placed into the LaSalle fund follows a $65m commitment to the Morgan Stanley Prime Property Fund in January.
