The UK property asset manager has set a hard cap of $1 billion for LaSalle Asia Opportunity V, with the first close scheduled for October. It has already made an acquisition.
Z-Ben research head moves on; New CEO for BNPP Cardif; LaSalle IM's co-CEO retires; First investment post for M&G in Asia; China Alpha FM bags CEO; Colliers hires HK MD
High valuations in the two cities, combined with emerging market concerns, have prompted the real estate manager to focus on residential property in Australia and Korea and logistics projects in Japan.
LaSalle Investment Management's third Japan Logistics Fund closes as demand for logistics properties are up, the yen is down and exports are expected to rise.
The firm gains an asset management licence to capture heightened demand by Korean institutions seeking real estate exposure in the West.
An estimated $110 billion is expected to flow into Asian commercial real estate this year, making up one-quarter of the global total, forecasts Jones Lang LaSalle.