{"id":1004368613,"date":"2019-11-15T03:30:07","date_gmt":"2019-11-15T11:30:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004368613"},"modified":"2019-12-03T02:53:57","modified_gmt":"2019-12-03T10:53:57","slug":"lasalle-investment-consortium-makes-canadian-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/","title":{"rendered":"LaSalle Investment Consortium Makes Canadian Purchase"},"content":{"rendered":"<div id=\"attachment_1004368646\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004368646\" data-attachment-id=\"1004368646\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/edmonton-city-centre-image-courtesy-of-lasalle-investment-management\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\" data-orig-size=\"550,412\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;1.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 8 Plus&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1540395527&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.99&quot;,&quot;iso&quot;:&quot;20&quot;,&quot;shutter_speed&quot;:&quot;0.0017094017094017&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Edmonton City Centre. Image courtesy of LaSalle Investment Management.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Edmonton City Centre. Image courtesy of LaSalle Investment Management.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg?w=550\" class=\"wp-image-1004368646 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg 550w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004368646\" class=\"wp-caption-text\">Edmonton City Centre. <em>Image courtesy of LaSalle Investment Management<\/em><\/p><\/div>\n<p>LaSalle Investment Management\u2019s core Canadian real estate fund along with three partners has acquired Edmonton City Centre, a 1.4 million-square-foot mixed-use asset in downtown Edmonton, Canada, <a href=\"https:\/\/www.commercialsearch.com\/news\/facebook-leases-1-5-msf-at-new-york-citys-hudson-yards\/\">from Oxford Properties Group<\/a>. LaSalle Canada Property Fund was joined in the transaction by German-based fund-servicing company Universal-Investment on behalf of Bayerische Versorgungskammer and two managing owners, North American Development Group and Canderel.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/lasalle-expands-korean-industrial-footprint\/\">LaSalle Expands Korean Industrial Footprint<\/a><\/p>\n<hr>\n<p>The price was not released, but the <em>Edmonton Journal<\/em> previously reported the portfolio was expected to sell for more than $300 million. The property includes the Edmonton City Centre retail component and three office buildings\u2014TD Tower, Oxford Tower and Centre Point Place\u2014and spans three city blocks in Edmonton\u2019s central business district. The portfolio includes four parking components with a total of 2,500 spaces.<\/p>\n<p>North American Development Group entities, including CentreCorp Management, will provide property management services and leasing for the ECC retail component. Canderel entities, including Humford Management, will provide property management services and leasing for the non-retail properties in the portfolio. Mortgage origination sourcing and placement for the acquisition was provided by an entity related to Forgestone Capital.<\/p>\n<p>Launched in 2017, the open-ended fund aims to provide Canadian and global institutional investors with immediate exposure to diverse and mature portfolios comprising office, industrial, mixed-use, retail and multifamily assets. John McKinlay, LaSalle Canada CEO, said in a prepared statement the transaction represented a rare opportunity to own a landmark mixed-use asset with a strong tenant roster in the city\u2019s downtown core and aligns well with the open-ended fund\u2019s investment goals.<\/p>\n<h2><strong>Downtown growth<\/strong><\/h2>\n<p>Michael Cornelissen, senior vice president of acquisitions for LaSalle Canada, stated in prepared comments that the properties in the portfolio benefit from the growth momentum of the adjacent Ice District sports and entertainment district and light rail transit connections that are supporting urban gentrification and population growth. Residential population in the downtown core has grown from 10,000 in 2008 to approximately 15,000 in 2019, and is projected to have 18,000 residents by 2020. There has also been an increase in residential condominium and rental development, with 1,600 units recently completed, 1,400 units under construction and another 3,100 units proposed for the area near the ECC. LaSalle officials also point to recently completed office developments that are increasing foot traffic in the area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LaSalle Canada Property Fund was joined by three other firms to acquire Edmonton City Centre, a 1.4 million-square office, retail and parking portfolio.<\/p>\n","protected":false},"author":1068,"featured_media":1004368646,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21783,21752,21742,21747],"tags":[34566,33722,47843,33104],"class_list":["post-1004368613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-investment","category-mixed-use","category-latest","category-office","tag-bayerische-versorgungskammer","tag-lasalle-investment-management","tag-north-american-development-group","tag-oxford-properties-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LaSalle Investment Consortium Makes Canadian Purchase - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LaSalle Investment Consortium Makes Canadian Purchase\" \/>\n<meta property=\"og:description\" content=\"LaSalle Canada Property Fund was joined by three other firms to acquire Edmonton City Centre, a 1.4 million-square office, retail and parking portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-15T11:30:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-03T10:53:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"550\" \/>\n\t<meta property=\"og:image:height\" content=\"412\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/\",\"name\":\"LaSalle Investment Consortium Makes Canadian Purchase - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\",\"datePublished\":\"2019-11-15T11:30:07+00:00\",\"dateModified\":\"2019-12-03T10:53:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg\",\"width\":550,\"height\":412,\"caption\":\"Edmonton City Centre. Image courtesy of LaSalle Investment Management.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LaSalle Investment Consortium Makes Canadian Purchase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"LaSalle Investment Consortium Makes Canadian Purchase - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/","og_locale":"en_US","og_type":"article","og_title":"LaSalle Investment Consortium Makes Canadian Purchase","og_description":"LaSalle Canada Property Fund was joined by three other firms to acquire Edmonton City Centre, a 1.4 million-square office, retail and parking portfolio.","og_url":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-11-15T11:30:07+00:00","article_modified_time":"2019-12-03T10:53:57+00:00","og_image":[{"width":550,"height":412,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/","url":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/","name":"LaSalle Investment Consortium Makes Canadian Purchase - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg","datePublished":"2019-11-15T11:30:07+00:00","dateModified":"2019-12-03T10:53:57+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg","width":550,"height":412,"caption":"Edmonton City Centre. Image courtesy of LaSalle Investment Management."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-consortium-makes-canadian-purchase\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"LaSalle Investment Consortium Makes Canadian Purchase"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Edmonton-City-Centre.-Image-courtesy-of-LaSalle-Investment-Management..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004368613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004368613"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004368613\/revisions"}],"predecessor-version":[{"id":1004372711,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004368613\/revisions\/1004372711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004368646"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004368613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004368613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004368613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}