LaSalle completes acquisition for Latitude; enters real estate debt fund space

The deal for former Latitude Management Real Estate Investors was seen as long-term move into commercial lending

TRD CHICAGO /
Jan.January 14, 2019 04:00 PM

From left: downtown Denver, Jason Kern, and Glenn Sonnenberg (Credit: Getty Images and Wikipedia)

LaSalle Investment Management completed its acquisition of a majority state in Latitude Management Real Estate Investors and its $1.2 billion debt fund business.

The asset management arm of Chicago-based JLL, LaSalle announced last year it was acquiring commercial real estate lender Latitude, making a play in that lending space in the United States.

Latitude, now part of LaSalle’s North America private equity platform, has been re-named LaSalle Mortgage Real Estate Investors. Former Latitude President and CEO Glenn Sonnenberg, Executive Vice President Chip Sellers and managing directors Craig Oram and Brett Mayer remain in the same roles with the new company.

Latitude generally provided bridge loans of between $5 million and $35 million on multifamily, office, hotel, retail and industrial properties.

LaSalle Investment Management had more than $64 billion under management as of the fourth quarter of 2018.

Its Chicago holdings include 101 North Wacker Drive, where railcar owner and manager TTX Company signed a 12-year lease extension for its 103,000-square-foot space, making it one of the 600,000-square-foot building’s biggest tenants.

A joint venture between LaSalle and Quantum Global Real Estate last put its stake in the office tower at 521 Fifth Avenue in New York on the market, as part of a push to sell $1.8 billion in global real estate.


Related Articles

arrow_forward_ios
Liberty Mutual at 27201 Bella Vista in Warrenville (Google Maps)

Chicago’s Q3 suburban office market hits highest vacancy in decade

Chicago’s Q3 suburban office market hits highest vacancy in decade
Mayor Lori Lightfoot (Getty, iStock)

Lightfoot to propose $94M property tax hike

Lightfoot to propose $94M property tax hike
Brian Whiting, CEO of Telos Group, and the Old Post Office (Credit: Google Maps)

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world
Cars.com CEO Alex Vetter and the building (Credit: Google Maps)

Cars.com wants to shrink its space at West Loop HQ

Cars.com wants to shrink its space at West Loop HQ
Thor Equities’ Joseph Sitt and Palmer House Hilton at 17 East Monroe Street (Google Maps)

Thor’s Palmer House hit with $300M+ foreclosure suit

Thor’s Palmer House hit with $300M+ foreclosure suit
Cook County Assessor Fritz Kaegi and downtown Evanston

Cook County landlords get bad news about 2020 taxes

Cook County landlords get bad news about 2020 taxes
Joe Sitt and 905 W. Fulton Market (Credit: Thor Equities)

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
Ald. Walter Burnett (27th)

Alderman Burnett to lift ban on resi development in Fulton Market

Alderman Burnett to lift ban on resi development in Fulton Market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...