LaSalle gains Latitude to enter US real estate debt market

Glenn Sonenberg Latitude

LaSalle Investment Management has acquired a majority stake in the $1.2bn debt fund business of Latitude Management Real Estate Investors to make its entry into the US real estate debt market.

Latitude is a US-based lender focused on short term, floating rate loans against middle-market commercial real estate assets and its assets will be incorporated into LaSalle’s North American private equity platform. The deal is expected to close in Q1 2019 and will add to the $21bn assets under management contained with the private equity platform of the company which has $60bn AUM in total.

Existing Latitude president Glenn Sonnenberg will continue to lead the debt fund business with the senior management team of executive vice president Chip Sellers and managing directors Brett Mayer and Craig Oram will all be integrated into LaSalle. Founded in 2009, Latitude has launched a series of commingled debt funds, the most recent being Latitude Management Real Estate Capital IV with total equity raised of nearly $500m.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now