Tishman Speyer

45 Rockefeller Plaza, New York, NY 10111, United States

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About Tishman Speyer

Summary

Tishman Speyer is an American multinational corporation headquartered at 45 Rockefeller Plaza, Manhattan. Founded in 1978 by Robert Tishman and Jerry Speyer, the company is renowned for its high-profile real estate investments and developments across the globe. It has been involved in several significant property acquisitions and projects, including the Chrysler Building, which it partially acquired in 1998, and the Rockefeller Center, which it purchased in 2000 for $1.85 billion.

In the late 1980s, Tishman Speyer expanded into Europe with its first project, the Messeturm in Frankfurt, which was the tallest tower in Western Europe at the time. The firm continued its global expansion with ventures in São Paulo, Brazil, and acquisitions in the United States, including the MetLife Building in 2005 and Stuyvesant Town in 2006. However, the latter was surrendered to lenders in 2010 due to financial difficulties.

Throughout the years, Tishman Speyer has had significant partnerships and joint ventures, notably with The Travelers Companies, BlackRock, and German investors. It has also been active in the development of major properties like the Spiral in Hudson Yards and Mission Rock in San Francisco.

In recent years, Tishman Speyer has expanded into smart-building technology, merging its blank-check company, TS Innovation Acquisitions Corp., with the startup Latch Inc. in 2021. This move positioned the company in the emerging market of building management and smart locks.

Tishman Speyer’s portfolio includes iconic properties such as the MetLife Building, Rockefeller Center, and CitySpire Center. The company continues to shape urban landscapes through both its real estate developments and innovative technology initiatives.

History

Tishman Speyer was founded in 1978 by Robert Tishman and Jerry Speyer. The company initially focused on real estate development and investment, quickly establishing itself as a major player in the industry. In March 1988, Tishman Speyer expanded into Europe with the announcement of its first project outside the United States—the construction of the Messeturm, a 70-story tower in Frankfurt, Germany. At the time, it was the tallest tower in Western Europe.

Later in 1988, Tishman Speyer acquired the headquarters of J.C. Penney in partnership with Trammell Crow Real Estate Investors for $350 million. This marked the company’s entry into large-scale acquisitions. In 1996, the company expanded into Brazil through a joint venture to construct a 36-story office building in São Paulo, valued at $175 million.

In 1998, Tishman Speyer formed a partnership with The Travelers Companies to acquire the mortgage secured by the Chrysler Building for $230 million from Fuji Bank. This acquisition gave the company a significant stake in one of New York’s most iconic buildings. The firm’s expansion continued in 2000 when it, along with Lester Crown, purchased Rockefeller Center for $1.85 billion, marking a major milestone in Tishman Speyer’s portfolio.

In 2002, Tishman Speyer sold the Millbank Tower in London for £115 million. Three years later, it acquired the MetLife Building in New York for $1.72 billion. In 2006, the company acquired Stuyvesant Town in partnership with BlackRock, though this property was surrendered to its lenders in 2010.

Tishman Speyer continued to make strategic moves, selling 666 Fifth Avenue in December 2006 to Kushner Companies for $1.8 billion. The company also began development on a new Yankee Stadium in 2007. In the same year, it acquired a 6.6 million square foot office portfolio in Chicago from The Blackstone Group for $1.8 billion.

In 2008, the firm, in collaboration with German investors, sold a 90% interest in the Chrysler Building to the government of Abu Dhabi, while retaining a 10% interest and the management rights.

The company faced significant challenges during the 2008 financial crisis, including the death of co-founder Robert Tishman in October 2010. Despite these challenges, the company continued to grow and diversify, acquiring an office tower in Chicago for $380 million in November 2010, which was valued below its construction cost.

In 2013, Tishman Speyer acquired 190 South LaSalle, an office tower in Chicago, for $211 million. That same year, it entered into a joint venture to develop a 3 million square foot mixed-use project in Shanghai.

The firm’s real estate ventures continued to thrive, with significant investments such as the $1.4 billion loan received on the MetLife Building in 2015, bringing the building’s value to $3 billion. In 2016, Tishman Speyer acquired the CNN Building in Los Angeles for $127 million.

In 2020, Tishman Speyer made a strategic move into the smart-building technology space, with its subsidiary TST acquiring Tower 2 at the Crystal Plaza project in Pudong, China. This was followed by the appointment of Gary Rodney as managing director for affordable housing in the same year.

Tishman Speyer further expanded its interests in technology in 2021 by merging its special-purpose acquisition company, TS Innovation Acquisitions Corp., with Latch Inc., a smart-lock and building-management software startup. The deal valued Latch at $1.56 billion, marking Tishman Speyer’s commitment to the growing sector of building management technologies.

Portfolio

Tishman Speyer is a leading global real estate development and investment firm with a diverse portfolio of properties across major cities in North America, Europe, Asia, and Latin America. In the United States, the company owns some of the most iconic properties in New York City, including Rockefeller Center, MetLife Building, and The Spiral, a 2.8-million-square-foot skyscraper located in Hudson Yards. The firm also has significant holdings in other cities such as 11 Hoyt in Brooklyn, 175 Varick Street, 520 Madison Avenue, The Franklin, and 190 South LaSalle in Chicago, as well as LUMINA, a luxury residential complex in San Francisco. Tishman Speyer has also invested in office buildings in Washington, D.C., South Florida, and Colorado Springs, along with a strong presence in Seattle.

In Europe, Tishman Speyer has a notable presence in Frankfurt, where it developed the OpernTurm and TaunusTurm, two prominent office towers in the city’s financial district. The firm has also had significant investments in London, including Millbank Tower, which was sold in 2002. The company’s ventures in Europe highlight its international reach and ability to operate in major global financial centres.

In Asia and Latin America, Tishman Speyer has expanded its portfolio through various major developments. In Shanghai, the firm is developing a 3-million-square-foot mixed-use project in collaboration with Shanghai Lujiazui Group. In São Paulo, Brazil, Tishman Speyer entered the market in 1996 through a joint venture to construct a 36-story office building. The firm also had investments in India, particularly in Hyderabad, where it sold a landmark office complex in 2018.

Beyond real estate development, Tishman Speyer has embraced technology investments through its subsidiary TS Innovation Acquisitions Corp. In 2021, the firm merged TS Innovation with Latch Inc., a smart-lock and building-management software startup, in a deal that valued the combined company at $1.56 billion. This move positions Tishman Speyer at the forefront of proptech innovation.

Leadership Team

Jeanette Abate | Managing Director
Joe Ritchie | Managing Director
EB Kelly | Senior Managing Director

References

Tishman Speyer | Real Estate | Tishman Speyer
Tishman Speyer | Wikipedia
Tishman Speyer Properties LP – Company Profile and News | Bloomberg
Tishman Speyer Portfolio | VTS Marketplace
Tishman Speyer | Juniper Square
Tishman Speyer – Overview, News & Similar companies | ZoomInfo
Tishman Speyer (Real Estate) | Asset manager | IPE Reference Hub
Tishman Speyer Properties 2025 Company Profile | PitchBook
Tishman Speyer – Crunchbase Company Profile & Funding | Crunchbase
Tishman Speyer Information | Rocket Reach

45 Rockefeller Plaza, New York, NY 10111, United States

Website https://www.tishmanspeyer.com/

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