LaSalle launches Japanese real estate fund

22 November 2019

Global real estate investment manager LaSalle Investment Management is launching the LaSalle Japan Property fund, a private open-ended core real estate fund.

The fund would focus on investments in Tokyo, Osaka, Nagoya, and Fukuoka across office, industrial, retail and multi-family sectors.

The fund launched with ¥61 billion ($827 million) of initial commitments from Japanese investors and loans from Japanese financial institutions.

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The initial portfolio included six assets selected from LaSalle’s research and strategy framework of Demographic, Technology and Urbanization (DTU) for purchase of ¥105 billion.

The aim was to grow to ¥200 billion in three years and ¥300 billion in five years.

Ryota Morioka, LaSalle Japan Property Fund fund manager, said strong market fundamentals in Japan, transparent capital markets, depth of existing stock and high barriers-to-entry made the core real estate market a compelling strategy in the current environment.

“For LaSalle Japan Property Fund, we seek to leverage our existing relationships in the office, retail, industrial and multi-family sectors to create a high-quality, diversified portfolio of stabilized core assets,” Morioka said.

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