LaSalle Investment Management US real estate funds have made $450m (€389m) worth of single-family rental property investments, according to an investor in one of the funds.
Ventura County Employees’ Retirement Association’s meeting document has revealed that the open-ended LaSalle Property Fund had approved a $300m investment into a single-family for rent property type and the value-add LaSalle Income and Growth Fund VIII fund was making an additional $150m co-investment into the property type.
Fund VIII initially approved a $100m commitment to single-family rental. As previously reported, Ventura is an investor in LaSalle’s eighth US value-add real estate fund.
LaSalle said in Ventura’s meeting document that single-family for rent assets is currently supported by strong rental demand and rapidly increasing institutional core investor interest.
LaSalle did not respond to a request for further comment.
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