LaSalle Investment Management has raised €1.1bn for its fourth European real estate debt fund.
The manager said the amount raised by the LaSalle Real Estate Debt Strategies IV (LREDS IV), inclusive of sidecar commitments currently in closing, exceeded the fund’s €1bn target capital raise, adding that LREDS IV is the largest fund in its flagship European debt fund series.
The previous fund, LREDS III, raised over £800m of commitments in 2017.
The manager said LREDS IV attracted commitments from institutional investors, both re-ups and new investors in the series from Europe, Middle East and Asia Pacific.
LREDS IV will be able to provide flexible capital solutions to institutional real estate sponsors across Europe in the form of whole loans and mezzanine debt in all major asset classes and Western European countries.
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.”
The latest fundraise lifts LaSalle’s gross loan origination capacity in Europe to over €4bn.
Zerda, the head of debt and value-add strategies at LaSalle said: “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.”
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