Tishman Speyer, Korean Pension Fund Launch $1.5B Investment Platform

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Tishman Speyer and the National Pension Service of Korea are launching a $1.5 billion platform to invest in real estate across the United States, the two companies announced.

The venture, dubbed the NPS-Tishman Speyer Thematic Platform, will dedicate its funds to real estate innovation and technology in “high-demand asset classes,” according to the announcement. It will also acquire and develop life sciences assets through Breakthrough Properties, a joint venture created by Tishman Speyer and Bellco Capital in 2019 that is actively investing in life sciences buildings in Boston and San Diego. 

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“This new platform leans into our collective experience in emerging asset classes and global markets,” Rob Speyer, Tishman Speyer’s president and CEO, said in a statement. “The most intriguing part is the new built-in ability to move quickly based on disruptive technologies and market shifts.” 

The platform will invest in proptech companies and affordable housing as well — particularly in neighborhoods without a lot of lodging options. It also plans to provide high-yield mezzanine loans on real estate projects in growing U.S. markets.

The investment vehicle is another step for Tishman Speyer into the life sciences space — which has become a hot industry around the country, and New York, in the past few years. New York City poured a total of $1 billion into supporting life sciences businesses while life sciences leasing in the city reached a record annual high in June, according to a report from CBRE.

Celia Young can be reached at cyoung@commercialobserver.com.