LaSalle Partners has acquired CIN Property Management, the property management arm of the $28 billion British Coal Pension Plans, London, according to a LaSalle spokeswoman.
The British property company will be merged into LaSalle Advisors, LaSalle Partners' pension fund advisory company. The combined firm will have more than $14 billion in tax-exempt asset under management. It would be No. 1 in Pensions & Investments' ranking of pension real estate advisers.
Terms of the deal, expected to close before the end of the year, were not disclosed. CIN Property Management has more than 170 properties worth $2.4 billion.
