EUROPE - Real estate specialists, LaSalle Investment Management, has launched the LaSalle Euro Growth II fund.
The new EUR500m fund will invest in properties across western Europe, predominantly in France, Germany, Italy, Spain, the Netherlands and Belgium. The fund will follow a risk, income and growth strategy similar to the one used for LaSalle's EUR300m Euro 5 fund.
LaSalle claims that the new fund will take advantage of a number of favourable market trends, such as corporations selling off non-core real estate assets; the shortage of modern and efficient office, warehouse and retail space, and attractive yields relative to borrowing rates.
The firm has also made two senior appointments to strengthen its investment team in continental Europe. Simon Marrison, formerly head of Rodamco France, will take charge of the firm's Paris office. Additionally, Marrison will also be the firm's acquisitions officer for France.
The other new hire is David Ironside, who will lead the firm's acquisition team responsible for Germany, Central Europe and the Benelux region. Ironside joins the firm from REAL IS, formerly Bayernfonds in Germany, where he was director of property acquisition.
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