LONDON-LaSalle Investment Management has executed the final closing of LaSalle Real Estate Debt Strategies II, a $984 million (£600M) European real estate debt fund focused on providing whole loan and mezzanine loans secured against real estate in the UK and Germany.

Offering single loans between $16 million (£10M) and $327 million (£200M), the fund can lend up to 80% LTV across all real estate asset classes, though with a focus on the office, retail, industrial and residential sectors. The fund will lend alongside traditional and alternative senior lenders or provide fully underwritten whole loans which it may partially syndicate to senior parties.

Amy Aznar, head of LaSalle's Debt and Special Situations business said: “We are delighted to attract such a diverse mix of investors to the fund and are very optimistic about the opportunities we are seeing in Europe. With over £1 billion of investible capital, we will continue to find attractive ways to invest capital across our targeted debt strategies.”