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LaSalle fund sells Twenty Anson office building in Singapore

SINGAPORE (22 February 2012) – LaSalle Investment Management (“LaSalle”) today announced, on behalf of LaSalle Asia Opportunity Fund III, that it has agreed to sell its interest in Twenty Anson, a Green Mark Platinum Grade-A office building in Singapore. The property will be sold to CapitaCommercial Trust (CCT:SP) for an agreed property value of S$430 million, which equates to $2,121 per square foot of net lettable area.

Andrew Heithersay, International Director at LaSalle said, “The round-trip of Twenty Anson Road validates the strategy of our LaSalle Asia Opportunity Fund series to manufacture core real estate assets in Asian gateway cities, aggressively manage them through to income stabilization and then divest to institutional investors.”

Completed in 2009, the 20-storey, 202,696 square foot building located in the heart of Singapore’s CBD was developed by LaSalle for its Asia Opportunity Fund III. Twenty Anson Road obtained the highest green building qualification and is one of the pioneers of sustainable office space in Singapore.

He added, “Twenty Anson Road was developed with LaSalle’s sustainability vision and commitment to best practices in reducing the environmental impact of commercial real estate. The building is 100% occupied and has attracted premium quality tenants such as Blackrock and Toyota, which is testament to the building’s innovative design and prime location.”

“Together with our partner, Lum Chang, we are proud to have brought such a high quality office building to the Singapore market. This has been a pleasing outcome for our investors and also confirms the value proposition of sustainability and real estate investment”, commented Heithersay.
The divestment of 20 Anson is the second successful joint venture between a LaSalle Fund and the L.C. Development Group, after its co-development of Crowne Plaza Changi Airport, which was sold in June 2011 for S$299 million.

Jones Lang LaSalle (NYSE:JLL) brokered the deal.


About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a leading global real estate investment manager, with approximately $47billion of assets under management of private and public property equity investments. LaSalle is active across a range of real estate capital and operating markets including private and public, debt and equity and our clients include public and private pension funds, insurance companies, governments, across the globe. For more information, visit