LaSalle Investment Management holds final close for LREDS IV

The Chicago-based investment firm has held a final close for its latest European real estate debt fund.

Fund: LaSalle Real Estate Debt Strategies IV
Amount raised: €1.1 billion
Target size: €1 billion
Stage of fundraising: Final close
Final close: November 2021
Time on the road: Two years and one month
Predecessor fund: LaSalle Real Estate Debt Strategies III

US investment firm LaSalle Investment Management has held a final close for LaSalle Real Estate Debt Strategies IV, according to a press release. The real estate debt vehicle has raised €1.1 billion in investor commitments, exceeding its original fundraising target of €1 billion and making it the largest fund in LaSalle’s flagship European debt fund series. The vehicle has attracted commitments from institutional investors – both returners and new investors in the series – from Europe, the Middle East and the Asia-Pacific region.

LREDS IV will 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.

As with its predecessor, which held a final close in November 2017 after raising £804 million ($1.08 billion; €941 million) against a £750 million target, the fund will make use of a variety of investment opportunities across Western Europe.