Corporate overview
LaSalle has been investing in one asset class since 1980: real estate. As of Q2 2023, we manage over $77bn in assets on behalf of over 500 investors worldwide and are responsible for over 1,500 properties with a combined area of 29.5m sqm. Our 900+ employees are based in offices in 13 countries.
We are one of the world’s leading real estate investment managers, but we don’t just invest in buildings at LaSalle. We invest in insight-driven research, the intelligent use of technology and sustainable building practices. We embrace collaboration, seek out diverse perspectives, nurture a Culture of Care for our people and our communities, and champion thoughtful decision-making at every level.
Our investments benefit a wide range of pension plans, sovereign wealth funds, insurance companies and private investors around the world. The opportunities we create and uncover today are designed to align with their long-term investment objectives and benefit the thousands of pensioners, investors and other stakeholders that they represent.
The divisions of our business are:
Private Equity: LaSalle’s private equity offerings are available within pooled vehicles and separate accounts, as country-specific, regional or global offerings, and span the risk-return spectrum (core, core plus, value-add, opportunistic).
European Debt Investments: LaSalle Debt Investments is one of Europe’s most active real estate debt providers. We have a long-standing track record of repeat business with market leading sponsors across Europe and provide investors with access to direct private lending opportunities which are sourced, structured, and managed in-house. We offer sponsors a wide range of products, including senior debt, whole loans, mezzanine debt, development lending and other bespoke financing solutions.
US Debt Investments: LaSalle’s US debt platform is a commercial real estate bridge lender providing short-term, floating rate loans to middle-market commercial real estate sponsors. The group’s primary focus is on originating new bridge loans for value-add and transitional properties in sustainable growth markets throughout the US. Each transaction is underwritten with a bottom-up method through an equity owners’ lens making sure that all interests are aligned and there is a clear exit strategy.
Indirect Investments: LaSalle Global Solutions (LGS) offers indirect real estate investment opportunities across a range of strategies and risk profiles. LGS aims to deliver durable, long-term income and attractive total returns to investors by taking advantage of a broad opportunity set and a disciplined investment process to build portfolios that meet client objectives. The team’s ability to move across geographies and sectors, and from equity to debt, provides opportunities to better capture returns as market conditions evolve. Offerings include bespoke portfolios of listed securities, unlisted commingled funds, non-controlling interests in joint ventures and co-investment mandates, and club investments.
Learn more about all of our investment solutions at lasalle.com/investing
Sector forecasts
Our sector and geographic forecasts are based on a mixture of top-down and bottom-up analysis led by our 30+ member global Research & Strategy team. In our top-down analysis, we consider cyclical, secular, and structural factors to assess the near- and long-term prospects of the various segments of the global property markets. We utilise LaSalle-specific analytical frameworks such as DTU+E, which considers structural changes to property markets and metro areas, and Going Mainstream, which tracks the evolution of niche sectors.
These insights are checked against bottom-up insights gained through managing our own portfolio, collaborating with our colleagues at JLL, and studying specific submarkets. Our target markets and sectors are framed using proprietary tools including a fair/relative value model that allows the comparison of risk-adjusted prospects for the various segments of the property markets. Strategy is debated and agreed in a regular House View process that is led by Research & Strategy but includes key representatives of the various investment functions within LaSalle.
While the specifics of our market forecasts are proprietary, we encourage readers to visit our website (https://www.lasalle.com/insights/) to read our latest reports on markets on strategy, particularly the Insights, Strategy and Analysis (ISA) suite, our flagship thought leadership programme, which addresses the annual strategic outlook (ISA Outlook), topical regular market updates (ISA Briefings), deeper dives on specific topics (ISA Focus) and global portfolio construction (ISA Portfolio View).
Investment principles & strategy
Clients come first in our business, and we use our fiduciary experience combined with our global scale and connected operating platform to deliver competitive performance. Our many long-standing clients trust LaSalle and often invest in multiple mandates with us around the globe. Our global research team and the experience of our fund managers, coupled with our ability to execute deals and actively manage assets, allows us to seek out robust returns for our clients. LaSalle’s in-house proprietary research gives our clients unique insight into global property markets. We invest heavily in market analysis and investment strategy, believing that a deeper understanding of market dynamics directly influences our ability to deliver competitive investment performance. The strength of the integrated relationship between research and investment teams is vital in generating ideas and investment opportunities for clients. Our Research & Strategy team identifies opportunities in the market, as well as develops client-specific strategies, providing direction to the investment teams, whose knowledge and network of contacts ensure LaSalle access to both on-market and off-market opportunities.
Performance verification
The performance of the majority of LaSalle’s portfolios in Europe is measured by MSCI and many are typically compared to an appropriate MSCI benchmark. However, increasingly portfolios are adopting a target relative to inflation or bonds, particularly in the UK. The independently calculated performance is thoroughly checked in-house by LaSalle as part of a multi-stage process. Where relevant, LaSalle’s funds provide data to INREV. For debt and value-add funds and a number of private clients, LaSalle provides money-weighted returns calculated from independently audited financial data.
LaSalle Global Solutions
The majority of the mandates are benchmarked against MSCI IPD All Balanced Funds index, according to client/mandate requirements. However, a number of mandates are using target returns of either an absolute target return or targets in line with RPI and/or INREV indices. LaSalle Global Solutions performance is currently calculated by LaSalle in line with MSCI methodology.
COMPLIANCE STATEMENT
The information contained herein is for the sole purpose of providing general information to institutional investors about LaSalle Investment Management and its affiliates. Certain information herein sets out general views of LaSalle Investment Management regarding certain property markets and types of property therein. No representation is made concerning the accuracy of the information compiled herein, and no guarantee or assurance is given that any forecast or opinion in these materials will be realized. This document does not constitute an offer to sell, or the solicitation of an offer to buy, and is subject to correction, completion and amendment without notice. The information contained herein is not investment advice and may not be construed as the promotion or marketing of any services or financial product sponsored or provided by LaSalle Investment Management or any of its affiliates. LaSalle Investment Management is authorized and regulated by the Financial Conduct Authority in the United Kingdom. LaSalle’s services consist of both regulated and unregulated activities. Direct investment in real estate does not constitute a regulated activity and as such falls outside the regulation of the Financial Conduct Authority.
