Bouwinvest, Tishman Speyer launch investment vehicle targeting premier office assets in leading U.S. cities

Tishman Speyer and Bouwinvest Real Estate Investors have set up Bouwinvest-Tishman Speyer SMA, a joint fund to buy top-tier U.S. office buildings. It will look at the main office markets nationwide and at cities with a record of growth. Its first investment was the Chrysler Building in Manhattan: Tishman Speyer used the fund's capital to acquire a 150-year ground lease on the tower this month, alongside a $235 million renovation commitment. Alternatives Watch describes the vehicle as backed by a Dutch pension. The fund's size and number of target properties were not disclosed.