Real estate investment manager LaSalle Investment Management has named Jeffrey Shuster as president of LaSalle Value Partners (LVP) US, effective immediately.

Shuster succeeds Joseph Munoz, who joined the flagship US value-add fund series in 2007 and became president and CIO in 2018. Shuster will also serve as LaSalle’s head of U.S. High Return Strategies, overseeing the expansion of that business.

Shuster was most recently head of investments at LVP US. According to the firm, he was “instrumental” in shaping, developing, and carrying out the funds’ investing strategy.

“We have deep conviction in LVP’s investment strategies and remain focused on delivering the premium investment returns that underpin our clients’ long-term success,” said Shuster. “I look forward to working with our investors in this new and expanded role, supported by my highly experienced colleagues and our integrated operating platform, to achieve their investment objectives.”

Shuster has been focused on equity and debt investing in real estate over his 19-year career. He joined LaSalle in 2020 from Starwood Capital Group, where he had leadership positions in acquisitions, joint ventures, and asset management.

“Jeffrey’s unique skillset and professional experience position him well to take on this role, having worked alongside the rest of our longstanding LVP US team to drive numerous successes for our high-return initiatives over the past four years,” said Brad Gries, head of Americas at LaSalle Investment Management.

LaSalle managed over $89 billion in assets in private and public real estate property and debt investments as of the fourth quarter of 2023.