Michael Zerda was named head of debt and special situations at LaSalle Investment Management, a spokesman confirmed.
Mr. Zerda will replace Amy Klein Aznar effective in the fourth quarter. Ms. Klein Aznar was named executive chairwoman of debt and special situations. In the newly created role, Ms. Klein Aznar will be involved in building the firm's investment strategy, decision-making, client relationships and communication, and will serve on the debt and special situations investment committee.
Mr. Zerda will lead the firm's debt and special situations platform and value-added equity strategies. He will be based in London and reporting to Philip La Pierre, LaSalle’s CEO of Europe.
"We are delighted to welcome Michael back to LaSalle. He will be fully supported by his strong senior leadership team including Ali Imraan and Richard Craddock as well as the wider European LaSalle Business. The combination of this leadership, and Amy's continued involvement in the business, is ideal to continue the exciting growth of the platform," Philip La Pierre, head and CIO of Europe, said in a news release Thursday. Mr. Zerda was European director for special situations until 2016.
LaSalle has more than $71 billion of assets in private and public real estate real estate and debt investments.
Mr. Zerda was head of Europe for real estate debt at Blackstone. A spokeswoman declined to disclose details of his replacement.