LaSalle Investment Management has raised an initial $300m (€275m) for its latest income and growth fund, with institutional investors backing its Income & Growth VII vehicle.

Approximately 85% of the capital was raised in a first close from institutional investors who had invested in the manager’s previous Income & Growth funds.

The fund will invest in high-quality properties with significant opportunities to add value.

Non-core office, retail, industrial and multifamily residential market across the US will be targeted by the manager for the fund.

LaSalle’s Income & Growth Fund Series was launched in 1996.

Its first six funds invested $4.9bn in US value-add opportunities.

Most investors plan to increase their exposure to US real estate in 2016, according to a survey by the Association of Foreign Investors in Real Estate (AFIRE). 

The survey found that, despite moderate concerns about the impact of higher interest rates, 64% of respondents expect modest or major increases in their investment in US real estate this year.

A similar amount of respondents to AFIRE’s survey said the US was the country providing the most stable and secure real estate investments. 

AFIRE said 31% expected to maintain or reinvest their investment, with no investors planning a major decrease.