LaSalle invests in real estate in Paris on behalf of pension fund

LaSalle Investment Management said yesterday that it has invested in mezzanine real estate debt on an office complex in Paris through investment received from its client, the Korea Scientists and Engineering Mutual-aid Association, a pension fund.

According to the real estate investment management company, a U.S. investment bank provided a syndicated loan to a U.S. private equity fund for the acquisition of Coeur Defense, an office complex in Paris. The company added that the property is the largest office complex in La Defense, a business district. It is leased to prominent tenants including HSBC, AXA, Allianz, Metlife and ING.

“Korean investors including SEMA are looking for more liquid and stable investment vehicles such as real estate debt financing rather than real property,” said J.B. Park, regional director at LaSalle. “We see strong opportunities in this sector for investors seeking higher rates of risk adjusted return.”