A German pension fund has awarded LaSalle Investment Management a €450m custom account mandate to invest in the office sector in continental Europe.
The mandate from the unnamed pension fund will be managed via the Institutional Investment Partners (2IP) platform in Germany and will target core office investments with a particular focus on France, Germany, the Netherlands and Spain.
LaSalle said the mandate will target properties positioned to “benefit from resilient occupier demand, limited new supply and the long-term appeal of prime workplace locations”.
Philip La Pierre, head of Europe at LaSalle, said: “Being awarded this mandate is a significant achievement for our European team and reflects LaSalle’s deep expertise in office markets across the continent.
“It’s a proud moment to have been selected through such a competitive process and our focus is now on constructing a high-quality, income-generative portfolio on behalf of our institutional investor client.”
Falko Schlafke, head of custom accounts for continental Europe at LaSalle and fund manager of the mandate, said: “This mandate provides an attractive opportunity to deploy capital into core office assets across key continental European cities.
“The current market environment presents compelling entry points for well-located, high-quality offices, particularly in markets supported by strong occupational fundamentals and constrained new supply, and we look forward to working with our client in delivering on this strategy.”
To read the latest IPE Real Assets magazine click here.
