LaSalle becomes sole Manager of Encore+

Fund GAV currently stands at €1.8bn

CHICAGO andLONDON and SINGAPORE,Nov. 14,2018 --LaSalle Investment Management ("LaSalle"),today confirms that it has assumed the sole responsibility for the management of Encore+,the open-ended Continental European real estate fund which has been jointly managed by Aviva Investors ("Aviva") and LaSalle for the last twelve years.

As the existing asset manager of the Fund,and also having shared joint responsibility for marketing,capital raising,client relationships and strategic business planning with Aviva since inception of the Fund,LaSalle is well-equipped to take on sole management of Encore+. The transaction is expected to further streamline the Fund's internal processes and decision making. There are no changes to the terms and offerings to investors.

David Ironside has assumed the role of Fund Manager for Encore+ having been responsible for LaSalle's management,strategy and acquisitions contribution to the Fund for twelve years in his capacity as Head of Acquisitions for Continental Europe and LaSalle's CIO for Continental Europe. Marianne Hemon-Laurens will be the Deputy Fund Manager for the Fund; she has been working on the Fund for ten years and seen the Fund triple in size over this period.

Encore+'s investment strategy will remain the same and focus on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Given the strong demand fundamentals,we believe opportunities remain to add value to assets located in markets with robust long-term trends in demographics,technology and urbanisation. Over the last three months,the Fund has continued to generate strong performance in both absolute and relative terms,and the historic long term returns have consistently been at the top end of its peer group; this is a direct result of our commitment to and success in generating attractive risk-adjusted returns over the long term. Encore+ has been a leading Fund in the IPD PEPFI in terms of performance and it was recently announced as the best performing Fund in the Index for 2017 on both a one and five year basis.

David Ironside,Fund Manager of Encore+,said: "I am delighted to confirm that LaSalle is now the Fund Manager of Encore+. We are committed to maintaining the strategy and we remain well positioned to execute the asset management required to generate the returns in line with the Fund's objectives. Encore+ has continued to be active in the market and to seek attractively priced assets aligned to our strategy. Since the transaction was announced,the Fund has continued to receive additional subscriptions from both existing and new investors."

Simon Marrison,CEO of Europe at LaSalle Investment Management,said: "Encore+ is our flagship fund for Europe and the market-leading performance that we have seen from the Fund will be a great platform for the future. I am delighted that LaSalle has become the sole Fund Manager as I believe that we have the experience,the scale and the ability to strengthen the Fund to help it reach its full potential."

About LaSalle Investment Management

LaSalle Investment Management is one of the world's leading real estate investment managers with approximately US$60 billion of private and public equity and private debt investments under management (as of Q2 2018). LaSalle's diverse client base includes public and private pension funds,insurance companies,governments,corporations,endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts,open- and closed-end funds,public securities and entity-level investments. LaSalle is a wholly-owned,operationally independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL),one of the world's largest real estate companies. For more information please visit www.lasalle.com.

This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and informational purposes and is not a recommendation,offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest,if made,will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results,nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Contacts

Americas:

Matt Schuler| Phone: +1 312 897 4192| Email: matt.schuler@lasalle.com

Asia-Pacific:

Sinhuay Ho| Phone: +65 64943520| Email: sinhuay.ho@lasalle.com

Europe:

Lydia Kalia| Phone: +44 207 852 4110| Email: lydia.kalia@lasalle.com

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