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January 15, 2019 Comments Off on LaSalle Finalizes Acquisition of Latitude’s $1.2B Debt Fund Business Views: 2317 Illinois, Midwest, National News

LaSalle Finalizes Acquisition of Latitude’s $1.2B Debt Fund Business

LaSalle Investment Management completed the majority acquisition of the $1.2 billion debt fund business of Latitude Management Real Estate Investors previously announced. Upon closing, the Latitude business will be transferred into LaSalle’s North America Private Equity platform, and be re-named LaSalle Mortgage Real Estate Investors (LMREI).

glenn sonnenberg

Glenn Sonnenberg

LMREI President and CEO Glenn Sonnenberg and EVP Chip Sellers, along with MD’s Craig Oram and Brett Mayer, will continue to lead the day-to-day business, and LMREI’s 20 employees will continue to operate under the same structure, systems and processes. The senior management team has retained an ownership position in LMREI, executed multi-year employment agreements and will be actively involved in the ongoing strategy, product development and growth planning process.

Sonnenberg says, “Joining LaSalle affords us a tremendous opportunity to build on the strong track record we have established over the past 19 years. We are enthused by the growth prospects ahead, and will remain focused on adhering to the same investment rigor and commitment to client service that have guided us to date.”

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