Monday, January 20, 2003
Published in Magazine:
Sunday, June 01, 2003
Chicago-headquartered LaSalle Investment Management, the asset management arm of Jones Lang LaSalle IP, Inc., completed the initial closing of its first Canadian institutional investment fund on January 20, 2003. LaSalle Investment Management is a global real estate investment leader with more than US$23 billion of assets under management.
Initial capital commitments to the fund are in the amount of $180 million. Canada Pension Plan Investment Board (CPPIB), was the lead investor, having committed up to $100 million. The fund will be placed over a 30-month investment period in Canadian office, industrial, retail and multi-unit residential properties.
Gowling Lafleur Henderson LLP acted as lead counsel for LaSalle Investment Management, with a team that included Robert Hull and Ryan Farquhar (corporate) and Tim Wach and Vince Imerti (tax). Gord Sato (real property) and Nigel Johnston (tax) of McCarthy Tétrault LLP acted for CPPIB, along with in-house counsel Jane Beatty. Stephen Ross and James Gee of Clifford Chance LLP advised LaSalle Investors Limited Partnership, another investor in the fund.