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Tishman Speyer is one of the leading owners, developers, fund managers and operators of real estate in the world, having managed a portfolio of assets since its inception of more than {{convert|77000000|sqft|m2}} in major metropolitan areas across the ], ], ], and ]. Tishman Speyer is one of the leading owners, developers, fund managers and operators of real estate in the world, having managed a portfolio of assets since its inception of more than {{convert|77000000|sqft|m2}} in major metropolitan areas across the ], ], ], and ].


Tishman Speyer’s properties includes such well-known icons as ]’s ], ], and ]. Internationally, Tishman owns ]’s ], ]’s ] and ]’s North Tower. They used to own ]’s ] and are still the property manager of the building. Their most recent project in London is the reconstruction of ], now known as Nexus. In 2007 they sold the ] in New York. Tishman Speyer’s properties include such well-known icons as ]’s ], ], and ]. Internationally, Tishman owns ]’s ], ]’s ] and ]’s North Tower. They used to own ]’s ] and are still the property manager of the building. Their most recent project in London is the reconstruction of ], now known as Nexus. In 2007 they sold the ] in New York.


Since 2005 Tishman has been in three of the biggest real estate deals in United States history: Since 2005 Tishman has been in three of the biggest real estate deals in United States history:

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Tishman Speyer Properties
Company typePrivate, public fund: ASX: TSO
IndustryReal Estate
Founded1978
FounderJerry Speyer and Robert Tishman
Headquarters45 Rockefeller Plaza New York City, United States
Area servedInternational
Key peopleRobert Tishman (Chairman)
Jerry Speyer (CEO)
Rob Speyer (President, Head of New York)
Katherine Farley (SMD Emerging Markets)
Michael Spies (SMD Europe)
ServicesLand Development
Property Management
Fund Management
Number of employees1,600
WebsiteOfficial Site

Tishman Speyer Properties is a leading real estate building and operating company set up in 1978 by two founding partners, Jerry Speyer and Robert Tishman.

Overview

Tishman Speyer is one of the leading owners, developers, fund managers and operators of real estate in the world, having managed a portfolio of assets since its inception of more than 77,000,000 square feet (7,200,000 m) in major metropolitan areas across the United States, Europe, Latin America, and Asia.

Tishman Speyer’s properties include such well-known icons as New York City’s Chrysler Building, Rockefeller Center, and CitySpire Center. Internationally, Tishman owns Frankfurt’s MesseTurm, Berlin’s Sony Center and São Paulo’s North Tower. They used to own London’s Millbank Tower and are still the property manager of the building. Their most recent project in London is the reconstruction of Fleetway House, now known as Nexus. In 2007 they sold the Lipstick Building in New York.

Since 2005 Tishman has been in three of the biggest real estate deals in United States history:

  • Sale of 666 Fifth Avenue for US$1.8 billion the biggest single building deal in the history of the U.S.
  • Purchase of the MetLife Building for $1.72 billion which was the previous record.
  • Purchase of Stuyvesant Town and Peter Cooper Village for $5.4 billion, consisting of 80 acres (320,000 m) of prime Manhattan land that includes 110 buildings and 11,232 apartments. It is the biggest single-property real estate deal up to this time in U.S. history.

In 2007 it acquired the S&P 500 member Archstone-Smith Trust (NYSE: ASN), a developer-owner of residential apartment buildings and the third largest REIT in the United States, in alliance with Lehman Brothers Holdings Inc. and with capital from investment banks Bank of America, Strategic Ventures Inc. and Barclays Capital.

Archstone-Smith shareholders received a 22.7% premium over the pre-announcement closing price of the stock.

The European Commission is reviewing the deal under the European Union's 'simplified' merger review procedure, which applies to mergers and acquisitions that it does not believe pose any competition concerns. The commission has set a deadline of October 3, 2007 for its inquiry into the deal.

References

  1. Official Tishman description
  2. ^ EU inquiry deadline for Tishman Speyer, Lehman Bros buy of Archstone-Smith Oct 3, forbes.com, AFX News Limited, Thomson Financial, Brussels, 2007-09-03

External links

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