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Laxman Pai, Opalesque Asia:

Global real estate investment manager LaSalle Investment Management announced the final close for LaSalle China Logistics Venture (LCLV) and its co-investment vehicle with total committed capital of US$972 million raised.

The Fund and its co-investment vehicle had received initial capital commitments of US$681 million at its first close last year, said a press release.

According to the release, LCLV is LaSalle's first fund dedicated to the China logistics sector, investing in modern logistics properties in markets with strong fundamentals. The Fund has seen strong support from a diverse group of new and existing global investors, attracting capital from North America, Europe, the Middle East, and Asia.

The completion of the capital raise comes as the Fund and its co-investment vehicle have already invested and committed US$423 million across 15 investments. This includes three recent acquisitions in Shanghai, Nanjing, and Tianjin. The Fund is expected to have an investment capacity of up to USD 2.5 billion.

LCLV invests across Tier I and Tier II cities located in China's key logistics regions, including the Yangtze River Delta (Greater Shanghai), Bohai Bay (Greater Beijing), and the Greater Bay Area (South China).

The Fund seeks to acquire and develop a diversified modern logistics portfolio in markets with strong fundamentals, capturing attractive development margins. LCLV also seeks to acquire and reposition underperforming as......................

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