Property owners are increasingly looking for whole loans, giving mezzanine providers such as LaSalle Investment Management growing opportunities to partner with senior lenders, according to Simon Marrison, LaSalle’s European CEO.
Property owners are increasingly looking for whole loans, giving mezzanine providers such as LaSalle Investment Management growing opportunities to partner with senior lenders, according to Simon Marrison, LaSalle’s European CEO.
'Debt has been an important part of what we have been doing for the last five years. We built quite a track record in the mezzanine space, and we are increasingly seeing opportunities to partner with senior lenders, where the banks take the senior part and we take the mezzanine portion,' Mallison told PropertyEU in an interview at MIPIM.
LaSalle IM raised €765 mln of equity in 2014 for its LaSalle Real Estate Debt Strategies II, a European real estate debt fund focused on providing whole loan and mezzanine loans secured against real estate in the UK and Germany.
Offering single loans between £10 mln and £200 mln, the fund can lend up to 80% loan to value (LTV) across all real estate asset classes, with a focus on the office, retail, industrial and residential sectors.
The fund received backing from more than 10 institutional investors across North America, Europe, and Asia, Marrison said.
