LaSalle Investment Management has closed its $4bn Asia Opportunity Fund II.
The successor fund to the $800m LaSalle Asia Recovery Fund raised $1bn from 34 US, Middle Eastern, European and Asian investors. It will buy retail, office, residential, logistics and resort property in China, Japan and Korea, and 20% of the fund has been alloctated to nine assets in the latter countries.
LaSalle has also bought two US office properties in San Francisco and two retail warehouses in Ottawa, Canada, on behalf of Prudential Property Investment Managers.
