LaSalle has raised €600 million for a programme to originate whole loans secured against European real estate.
The LaSalle Whole Loan Strategies programme is managed by its debt and special situations team and will look to hold whole loans with a loan-to-value of 70 to 80 percent across various asset types.
The strategy will target loans secured against real estate in Western Europe and the Nordic countries and provide finance of between €25 million and €100 million. Initially, investment will focus on opportunities in France, Benelux, Iberia and Ireland.
LaSalle said it has already made a €37 million investment from the platform to finance the aggregation of a portfolio of logistics assets based around Paris. The lender said its finance package gave the sponsor flexibility to acquire the assets in batches as part of its business plan. A follow-up investment provided a €36 million whole loan to finance a distribution centre in Belgium and an office in Ireland.
LaSalle’s managing director of debt and special situations, Ali Imraan, said growing numbers of borrowers are looking for flexible finance that combines senior and mezzanine loans.
“This new programme will allow us to provide borrowers with a truly one-stop financing solution, greatly reducing their execution risk. It is also more efficient compared to a traditional senior and mezzanine solution, particularly for smaller deals,” he explained.