LaSalle secures $560m for open-ended Japan property fund

US-based real estate investor LaSalle Investment Management has launched its first Japan-focused open-ended core fund with $560 million in initial commitments, the company said in a statement.

LaSalle Japan Property Fund will invest in diversified assets across the office, industrial, retail, and multifamily sectors in Japan, mainly in the cities of Tokyo, Osaka, Nagoya, and Fukuoka. The firm seeks to grow the fund to 200 billion yen ($1.8 billion) in three years and 300 billion yen ($2.7 billion) by 2024.

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