Tishman Speyer and Mitsui Fudosan America Establish Joint Venture to Develop and Reposition Logistics Properties in Leading U.S. Industrial Markets

Source of MFA 500 million dollars Commitment will support the continuation Growth and diversification of Tishman Speyer Industrial platform

NEW YORK, November 8, 2022 /PRNewswire/ — Tishman Speyer and Mitsui Fudosan America (MFA) today announced the formation of a new software joint venture dedicated to the acquisition, development, redevelopment and operation of industrial properties in leading US cities.

The newly formed Tishman Speyer-Mitsui Fudosan America Logistics Venture will invest in the initial version. $500 million MFA branch commitment as well as co-investment capital Tishman Speyer. The funds will be used for the implementation of fundamental development projects and major repositioning or redevelopment of existing value-added industrial acquisitions. The joint venture will prioritize ESG investments that meet the standards and specifications set by market-leading environmental certifications such as LEED and GRESB.

The partnership will primarily focus on large urban centers with a dynamic workforce, growing population and high barriers to entry, such as: Los Angelesis New York Metro area, Puget Sound area, San Francisco Bay Area, Austin, San Diego, Washington DC, Boston and: Chicago. Tishman Speyer will implement its industrial strategy in its target markets through long-established internal teams.

Tishman Speyer will invest in a wide range of industrial assets that facilitate the movement and delivery of goods and services in high barrier locations, including distribution, warehousing, research and development, small bay, transportation and open storage.

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“Today’s evolving consumer needs have created a strong demand for well-located, functional industrial facilities. This is especially true in urban centers with the most limited supply. to their clients,” said the CEO of Tishman Speyer Rob Spier. “We are also pleased to develop and diversify our strategic partnership with Mitsui Fudosan America, which is already a co-investor in a number of industries. of Tishman Speyer life sciences, residential and office developments”.

He said Sean McSweeneyMitsui Fudosan America Senior Vice President of Acquisitions, “This is an exciting area for growth and expansion of our portfolio. Our cooperation Tishman Speyer has already proven successful in empowering and delivering value to a wide range of urban communities across the US. In Asia53 projects are being developed and managed under the Mitsui Fudosan Logistics Park flagship brand.

Tishman Speyer launched its industrial platform December 2021 with the acquisition of two distribution centers Pittsburgh and: Colorado Springs. In 2022, the company was recognized as an industry veteran Andy Burke work as CEO and industry leader. Burke previously held leadership roles at AMB Property Corporation (now Prologis) and most recently at Terreno Realty Corporation, where he was part of the management team that built its platform and took the company public in 2010.

“Mitsui Fudosan America’s commitment to this new joint venture will accelerate the expansion of our industrial platform from core and core assets to include value-add, development and processing capabilities,” said Tishman Speyer’s senior managing director. Paul Gallianowho serves as co-author of US Acquisitions and Global Capital Markets.

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Burke added. “The fulfillment demands that come with an ever-expanding omnichannel experience create ever-dynamic demands on the supply chain. By placing our investments in high-density locations on the path to consumption, we will unlock significant value for our customers and our customers. investment partners”.

About: Tishman Speyer (tishmanspeyer.com).
Tishman Speyer is a leading owner, developer, operator and investment manager of prime real estate in 32 key markets. United States, Europe, Asia and: Latin America. We develop, build and manage premier office, residential and retail space for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With a global vision, on-site expertise and a personalized approach, we are unmatched in our ability to drive innovation, adapt quickly to global and local trends and anticipate the evolving needs of our clients. With a focus on health and well-being, bright spaces and customer-focused initiatives like 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 settle them every day. Since our foundation in 1978 Tishman Speyer has acquired, developed and operated 512 properties totaling 217 million square feet with a combined value of over $126 billion (USA): Our current portfolio includes such iconic assets as Rockefeller Center New York CityThe: Sources: in ShanghaiTaunusTurm in: Frankfurt and the currently underway Mission Rock neighborhood San Francisco.

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About Mitsui Fudosan America (mfamerica.com)
Mitsui Fudosan America, Inc. (MFA) is the US subsidiary of Japan The largest real estate company, Mitsui Fudosan Co., Ltd., a publicly traded company with approx 65 billion dollars of assets. MFA is responsible for Mitsui Fudosan’s real estate investment and development North Americaand the main office is located in c New Yorkwith branches Washington DC, San Francisco, Los Angeles and: Honolulu. The MFA has been active United States since the 1970s and currently has assets in Armenia New York, Washington DC, Boston, Dallas, Atlanta, Denver, Seattle, San Francisco, Los Angeles, San Diego and: Honolulu metropolitan areas. MFA’s US portfolio includes 8.6 million square feet of office space, 2.7 million square feet of office space under development, 2,000 residential apartments, 5,300 additional rental units, and 741 hotel rooms. In addition, MFA has recently developed several condominium projects in Armenia New York and: Washington DC markets.



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SOURCE: Tishman Speyer


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