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Global real estate investment manager LaSalle Investment Management has closed its fourth fund under its Japanese logistics series.
Equivalent to US$350 million (S$475 million) in equity to invest, the JLF IV fund will allow for a total investment volume of more than US$100 billion (S$136 billion) in development as well as value-add warehouses in Japan.
The fund will primarily focus on the Osaka and greater Tokyo property markets.
In a release, LaSalle revealed that its JLF Fund Series has made 34 investments since 2004, worth over US$3 billion (S$4 billion) with US$1.5 billion (S$2 billion) in aggregate equity commitments.
“With JLF IV, we are responding to the strong investor appetite for warehouses, which are now considered an investment grade asset class. Favourable market fundamentals are supportive of the fund’s investment strategy and allow us to identify opportunities at the asset level,” said Yasuo Nakashima, CEO of Japan and fund manager at LaSalle.
This article was edited by Keshia Faculin.
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