LaSalle's latest real estate debt fund, LaSalle Real Estate Debt Strategies IV (LREDS IV) has raised €1.1 bn of capital at its final close, bringing LaSalle's gross loan origination capacity in Europe to over €4 bn across the various real estate credit products, which include senior loans, development finance, and preferred equity.
The €1.1 bn fundraise includes side car commitments currently in closing, and exceeds the fund's target capital raise, making LREDS IV the largest fund in its flagship European debt fund series. The Fund has 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. The Fund will be supported by the existing Debt Investments team and two recent key senior hires: David White and Michael Zerda.
Michael Zerda is rejoining from Blackstone to oversee LaSalle’s debt and value-add equity strategies in Europe.
David White, head of LREDS series at LaSalle said: 'We have an exemplary team of lending professionals backed by an impressive track record and strong borrower and bank relationships across Europe. We are well equipped to offer bespoke and creative capital solutions for our borrowers across a wide array of asset classes and jurisdictions.'
Amy Klein Aznar, executive chair of Debt & Value-Add Strategies at LaSalle said: 'We are pleased to have surpassed our €1 bn 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. Our team is very well positioned to invest our significant dry powder across LaSalle’s various real estate credit strategies.'
Michael Zerda, head of Debt & Value-Add Strategies at LaSalle said: 'We are humbled by the support of our investors and excited for the opportunities ahead. 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.'
