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LaSalle Investment Seeks $1 Billion for Property Fund

  • Vehicle would be eighth iteration of firm’s flagship fund
  • Seventh real estate fund closed last year with $510 million
Residential and commercial buildings stand in downtown Austin.
Photographer: David Paul Morris/Bloomberg

LaSalle Investment Management Inc. is seeking $1 billion for the latest iteration of its flagship U.S. real estate fund, according to people with knowledge of the matter.

The fund, the eighth of a series driven by a so-called value-add real estate investing strategy, will be known as LaSalle Income & Growth Fund VIII. It’ll target returns of 10 percent to 15 percent after fees, according to the people, who asked not to be identified because the fundraising is private. A LaSalle representative declined to comment on the eighth fund.