LaSalle Investment Management has raised a further €300m for its new real estate whole loan lending strategy.
The LaSalle Whole Loan Strategies programme, which raised €600m in May last year, has financed an acquisition by The Carlyle Group and Safestore Holdings joint venture, the manager said.
Last week, IPE Real Assets reported that Safestore and Carlyle’s joint venture had bought the six-store self-storage market portfolio in Belgium from Lokabox for an undisclosed amount.
LaSalle said it has provided a whole loan facility to finance the acquisition and capital expenditure of the portfolio.
LaSalle’s Whole Loan Strategies programme originates and holds whole loans secured against real estate in Western Europe and the Nordics across various asset types, targeting financings from around €25m to over €100m and with loan-to-value ratios of up to 80%.
Amy Aznar, head of debt and special situations at LaSalle Investment Management, said: “We are very pleased to continue to support Carlyle and Safestore’s acquisitions of high-quality self-storage assets.
“This transaction demonstrates our continued commitment to our clients in supporting their financing needs.”
Richard Craddock, MD at LaSalle Investment Management, added: “This investment exemplifies the strong demand we continue to see from borrowers for whole loan financing solutions that offer reduced execution risk – a requirement that is likely to increase further amid the current market uncertainty.
“With an additional €300m raised for the Whole Loan Strategies programme, we see a range of compelling opportunities to continue deploying capital throughout continental Europe.”
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