LaSalle Refinances $425M of Debt

In the article, Markus Beran, head of financing, LaSalle Investment Management said, "We haven't encountered any difficulties with the twenty or so banks involved during our debt refinancing negotiations, due in part to our market reputation and our proactive credit management. This shows even in the face of the economic crisis, there's still room for deals on the international debt markets. Indeed, we believe that some of the best opportunities over the coming months are likely to be in partnership with the banks because of their desire to avoid fire sales."

As part of this large round of refinancing, LaSalle completed $47 million refinancing the Olympe property in Paris. The deal included an extension of the current debt agreement and was completed on behalf of the LaSalle European Growth Fund II.

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