Tishman Speyer Launches European Value-Added Fund With €750m of Equity Commitments

LONDON, September 26, 2018 /PRNewswire/ --

Tishman Speyer, one of the world's leading developers, owners, operators and asset managers of first-class real estate, today announced the final closing of Tishman Speyer European Real Estate Venture VIII ("TSEV VIII" or the "Fund") with equity commitments totalling €750 million, exceeding the Fund's target size of €600 million. The Fund received commitments from 20 investors from across Europe, Asia and the Americas.

TSEV VIII follows Tishman Speyer's successful European value-add investment programme. The Fund will pursue a value-added investment strategy, focusing on repositioning, developing and redeveloping high-quality office and mixed-use properties in Europe. TSEV VIII will also consider ground-up development opportunities and residential investments with attractive value-creation potential.

To date, TSEV VIII has made a significant investment in Madrid's Las Tablas, marking Tishman Speyer's return to the Spanish market after a decade and also representing an important step in the continued growth of its European business. With the creation of TSEV VIII, Tishman Speyer will seek out new opportunities across Europe with a primary focus on Berlin, Frankfurt, Hamburg, London, Munich and Paris.

Bernard Penaud, Head of Europe for Tishman Speyer commented: "The successful closing of our TSEV VIII capital, with commitments in excess of our original target, is a clear indication of the continued strong levels of investor appetite for the first-class opportunities Europe continues to offer. It also recognises our teams' excellent track record of value creation across the region."

Tishman Speyer first invested in Europe in 1988 and now has €7.1 billion in AUM invested in European markets in core and value-added private equity real estate funds and joint ventures.       

About Tishman Speyer 

Tishman Speyer is a leading owner, developer, operator and fund manager of first-class real estate around the world. Founded in 1978, Tishman Speyer is active across the United States, Europe, Latin America and Asia, building and managing premier office, residential and retail space in 28 key global markets for industry-leading tenants. The firm has acquired, developed and operated a portfolio of over 167 million square feet with a total value of approximately US $88 billion spread over 406 assets. Signature assets include New York City's Rockefeller Center, São Paulo's Torre Norte, The Springs in Shanghai, Lumière in Paris and OpernTurm as well as TaunusTurm in Frankfurt. Tishman Speyer currently has projects at different stages of development in Boston, Brasília, Frankfurt, Gurgaon, Hyderabad, Los Angeles, New York City, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai, Shenzhen and Washington, DC. The firm also operates portfolios of prominent office property portfolios in Berlin, Chicago and London.