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Final close for LaSalle Asia Opportunity Fund III

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LaSalle Investment Management has announced the final closing of LaSalle Asia Opportunity Fund III, the third in a line of successful opportunity f

LaSalle Investment Management has announced the final closing of LaSalle Asia Opportunity Fund III, the third in a line of successful opportunity funds launched by LaSalle focused on developed Asia.  LaSalle Asia Opportunity Fund III raised USD3 billion, and with leverage will have a total potential buying power of USD10-12 billion.

The close of this latest fund comes shortly after the close of LaSalle Japan Logistics Fund II late last year, raising JPY 90 billion (USD 820 million), providing a total buying power of JPY 260-360 billion (USD 2.4-3.3 billion).

These two fund raisings illustrate the positive real estate investment environment in Asia and LaSalle’s commitment to and success in investing in the region.  The leading global real estate investment manager expects its assets under management in Asia to double in the next three years as these funds become invested and as strong fundamentals and above-trend economic growth continue to support a positive outlook for the Asian real estate sector.  LaSalle holds approximately USD 11 billion in Asia property assets under management.

Philip Ling, Managing Director, LaSalle Investment Management, says, “Asia remains a key strategic priority for our business and we have a very active plan to grow our operations in the region.  The successful closure of these two funds is a very positive step toward our goals and we have been extremely pleased with the commitment from both previous and new investors, who were attracted by the depth and quality of our experience in Asia.

“We see a lot of opportunity in Japan, which contains 50 percent of the total value of real estate assets in Asia, although we also see opportunities in Korea, China and elsewhere in Asia Pacific.  We will continue investing in large scale, modern warehouses in Japan through JLF II, as we believe this sector offers a lot of potential, with highly efficient warehouses still comprising a very small proportion of the overall storage market.”

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