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Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, today announced the acquisition of two “middle mile” distribution centers in Colorado and Pennsylvania.
Tishman Speyer, Hana Financial Group (HFG), and Vestas Investment Management (Vestas) purchased the facilities, both of which are 100 percent leased, from SunCap Property Group, the developer of the properties. The portfolio acquisition is the first by Tishman Speyer and Hana Financial Group (HFG) as part of a new $500 million co-investment vehicle targeting a diversity of asset classes and global markets.
As part of the portfolio transaction, Tishman Speyer, HFG, and Vestas acquired a 279,000 square-foot Class A industrial property located at 4333 Integration Loop in Colorado Springs. It is located approximately three miles from the Colorado Springs Airport.
The second Class A industrial facility is located at 17 William Drive in the Imperial neighborhood of Allegheny County. Completed in 2021, the 278,000 square-foot distribution and sorting center is situated approximately five miles from Pittsburgh International Airport.
4333 Integration Loop and 17 William Drive are the first properties that will be owned and operated through Tishman Speyer’s newly formed industrial properties platform.
“The launch of our new industrial property platform represents another milestone in the ongoing growth of our diversified global platform,” said Tishman Speyer President and CEO Rob Speyer. “We and our investment partners at Hana and Vestas were drawn to these assets for their strategic locations, strong in-place leases, and quality of construction. These distribution centers also have flexibility to accommodate a wide range of tenants and industries throughout their lifespans.”
About Tishman Speyer (www.tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 28 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 453 properties, totaling 210 million square feet, with a combined value of approximately $113 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
About Hana Financial Group
Hana Financial Group was established in 1971 in Seoul, South Korea, where it maintains its global headquarters. Today, HFG employs approximately 22,000 people and operates more than 1,000 branches with assets under management of more than $390 billion
About Vestas Investment Management (www.vestasinvest.com)
Vestas Investment Management, founded in 2010, is a Korean asset management company specializing in Korea and international real estate managed by industry experts that have acquired professional experience and insight from leading global real estate companies, private equity firms, accounting firms and real estate investment advisory firms. As of November 2021, Vestas’s global asset under management (AUM) measures up to approximately USD 6.4 billion, placing us within Korea’s top real estate fund management companies. About 90% of the Vestas’s AUM consist of international investment, and despite the COVID-19 situation, it has made the second-largest international investment transactions in Korea as of 2020. Our major current portfolio includes such as Summit Office in Bellevue, Southern Towers Multifamily in Alexandria, DSV logistics building in Copenhagen, 125 Shaftesbury Office in London, and Safeco Plaza is currently being realized in Seattle.
