LaSalle Investment Management has held a first close for its first UK private rented sector fund with £120m of capital committed.
The fund manager is focusing on the build-to-rent market and expects to invest up to £500m in the sector in the next few years both on behalf of the fund and separately for institutional clients.
Andrew Stanford, UK residential fund manager, LaSalle Investment Management, said: “We expect continued strong demand in the residential private rented sector. Growing demographic pressure and a shortage of supply is driving housing requirements and we expect significant growth.
“Returns in UK PRS compare favourably with core commercial real estate.”
