LaSalle Investment Management, the global real estate investment manager, has appointed Blake Loveless as Head of Value-Add Investments, marking a significant milestone in the continued growth and expansion of its value-add business in Europe.
Based in London, Blake will help manage and grow LaSalle’s newly restructured business unit targeting higher-return real estate equity investments in Europe. He will report to Michael Zerda, who is rejoining LaSalle from Blackstone later this year to oversee both debt and value-add strategies when Amy Klein Aznar transitions to the role of Executive Chair. The series of recent hires demonstrates LaSalle’s commitment to create a best-in-class European value-add equity business.
Blake Loveless brings nearly 20 years’ experience to the role, having founded Jackyl Ltd, a pan-European real estate investment manager and operating partner which deployed over €500 million of equity in partnership with institutional and ultra-high-net worth investors. Prior to this, he spent thirteen years at pan-European private equity fund manager Meyer Bergman, now ‘Mark’, as Head of Acquisitions and a member of the investment committee, helping to grow the business to over €4 billion of assets under management.
Blake will help spearhead LaSalle’s re-entry into value-add equity and special situations investment strategies, following the first and highly successful special situations fund. LaSalle is targeting upwards of €1 billion of equity for a follow-on fund and anticipates a first close during the first half of 2022. The strategy will invest throughout Europe and across the capital structure, working with operating partners and sponsors. The team is currently investing over €1.2 billion of dry powder in value-add opportunities on behalf of institutional clients.
Amy Klein Aznar, Head of Debt & Value-Add Strategies at LaSalle, said: “We are delighted to welcome Blake Loveless to LaSalle, and I look forward to working closely with him as we significantly expand our value-add business. His impressive track record in European real estate investment will be critical as we continue to drive growth in value-add investing, a strategy with real potential for our investors.”
Philip La Pierre, CEO, Europe at LaSalle, said: “Growing our value-add investment capabilities and being recognized by our clients as best-in-class in value-add investing in Europe is a strategic priority for LaSalle. We are excited for Blake to lead our value-add activities, and his expertise, together with our existing, high-caliber team and established investment track record, positions us for meaningful growth and success.”
Blake Loveless, incoming Head of Value-Add Investments at LaSalle, said: “LaSalle has long been a formidable institution in real estate globally, and I am thrilled to join the team. The opportunity to grow a comprehensive value-add strategy complementing LaSalle’s best-in-class debt and special situations business is unique and compelling.”
LaSalle’s Debt & Value-Add Investments platform has a strong track record of developing strategic relationships with best-in-class partners and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has invested over €4 billion in 88 individual transactions with a gross value in excess of €12 billion as of July 2021.”