LaSalle Investment Management's third Japan Logistics Fund closes as demand for logistics properties are up, the yen is down and exports are expected to rise.
An estimated $110 billion is expected to flow into Asian commercial real estate this year, making up one-quarter of the global total, forecasts Jones Lang LaSalle.
Having decided it is happy with assets acquired in its Asia Opportunity Fund III portfolio, LaSalle returns $600 million of left-over capital to property investors.
There are several spots where opportunistic property funds can pick up good buys, says Andrew Heithersay of LaSalle Investment Management, which has just acquired an Australian real-estate funds business.
A comment made during the real estate panel at AsianInvestor’s 6th annual Asian Investment Summit begs the question: who is driving Asian real estate acquisitions?
There are also good opportunities in second-tier cities in China and in prime office property in Australia and Hong Kong, says Kenneth Tsang of LaSalle Investment Management.