It is LaSalle’s first fund to invest in the Mexico real estate market, and nearly US$104 million has already been drawn down for investment.
The LaSalle Mexico Fund closed with equity commitments from a diversified group of institutional investors and has the mandate to invest opportunistically in residential, retail, industrial and office properties throughout Mexico, as well as hotels if appropriate joint venture partners are identified.
“Mexico offers attractive opportunities and risk-adjusted returns in the real estate market,” LaSalle Investment Management Mexico chief executive Eduardo Guemez said.
The country has a rapidly growing middle class, which creates substantial demand for retail and residential spaces.
Within the industrial space, demand continues to grow as exports shift from commodities to manufacturing.
“We believe there are long-term real estate investment opportunities in Mexico,” Guemez said.
“Our active joint venture pipeline with leading Mexican developers and operators, coupled with the success the company has experienced in Mexico acting on behalf of separate account clients, means we expect to continue seeing strong performance to the benefit of our investors.”
