LaSalle prepares $1 billion for Japanese logistics

WarehouseLaSalle Investment Management says it has closed the fourth of a series of funds that invest in warehouses in Japan. The fund has $350 million of equity to invest, which allows for a total investment volume of $1 billion, says the firm. “We are responding to the strong investor appetite for warehouses, which are now considered an investment grade asset class,” said Yasuo Nakashima, chief executive of the firm's Japanese business. The fund, JLF IV, will concentrate on the greater Tokyo and Osaka markets. In total, the JLF series has completed more than $3 billion of investments. LaSalle Investment Management is a property investment firm with about $59 billion of assets under management. ©2017 funds global asia

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