Investment Management has raised 拢264m (鈧�305m) for its third UK residential finance fund.
LaSalle Residential Finance III will focus on assets being developed or redeveloped for use as student housing, residential accommodation, hotels or healthcare-related property.
The vehicle is providing whole loans for larger and/or more highly leveraged developments at loan-to-cost ratios of up to 80%, with loans ranging from 拢15m to 拢100m.
The fund is the third in a series of vehicles managed by LaSalle, which have now raised 拢704m collectively.
LaSalle said Dutch pension fund manager APG is the largest investor in the series of funds.
Simon Marrison, European chief executive at LaSalle, said: 鈥淲e have long been believers in real estate lending; in a low-interest rate environment, this is one of our most secure income yielding strategies.
鈥淚n the UK, the partial retreat of traditional lenders from development finance and higher LTV loans will continue to generate opportunities for non-traditional real estate lenders.鈥�
In a trading update, LaSalle also said its Real Estate Debt Strategies III has now secured aggregate 拢334m of commitments and is aiming for a 拢600m raise to match its predecessor.
The fund鈥檚 primary focus is the UK, but it also invests across Western Europe and the Nordics.
The vehicle has extended a 拢38m, five-year mezzanine facility for the acquisition of a 拢191m UK portfolio by clients of BMO Real Estate Partners.
LaSalle said it has now raised nearly 拢600m across its debt strategies platform.
