LaSalle Logistics Fund To Exit Most Investment To GLP and CIC

LaSalle Investment Management Inc., a global real-estate investment firm, announced that LaSalle has sold almost all the assets of Japan Logistics Fund 1 to Global Logistics Properties (GLP), a Singapore-listed logistics specialist. GLP and China Investment Corp. (CIC), a sovereign wealth fund, purchased 15 logistics warehouses for $1.6 billion from the fund. The fund was launched in 2004 and targets Japanese logistics properties for international investors. LaSalle still manages Japan Logistics Fund 2, which was raised in 2008.