JLL’s investment management arm has raised initial commitments for its inaugural fund aimed at fast-tracking decarbonization efforts for commercial real estate portfolios.
LaSalle Investment Management raised $370M for its LaSalle Property Planet Protection Fund to fuel a strategy of decarbonization through building upgrades.
Through the fund, LaSalle will acquire properties in need of upgrades and invest in renovations to improve energy use intensity and decrease carbon emissions, the company announced Wednesday. 
The fund plans to target deep retrofits of vacant buildings, lighter retrofits for properties with active tenancy, and a small portion of ground-up development. LaSalle plans to reach more than a 30% reduction in energy use intensity…