LaSalle Investment Management, an arm of Jones Lang LaSalle Inc., is betting big on U.S. commercial real estate debt. LaSalle is acquiring a majority stake in Latitude Management Real Estate Invest…
Source: finance-commerce.com
LaSalle Investment Management, an independent subsidiary of Jones Lang LaSalle Inc., will acquire majority stake in Latitude Management Real Estate Investors which manages US$1.2 billion across credit funds. Latitude offers short-term loans to borrowers focused on commercial property in U.S. region including San Francisco and Denver. Their target customers include the middle market, lending US$5 million to US$35 million to income-producing multifamily, office, hotel, retail and industrial properties. Latitude’s debt typically spans three years, with the option for extensions, and has floating interest rates. The terms of the deal weren’t disclosed by the companies. The acquisition is scheduled for completion during Q1 2019.
