Korea’s National Pension Service Lends Tishman Speyer its Balance Sheet for a Wide Range of US Real Estate Investments

Posted on 11/09/2021


The National Pension Service of Korea (NPS) and Tishman Speyer, a global real estate owner, developer, manager and investor, announced the creation of NPS-Tishman Speyer Thematic Platform, a US$ 1.5 billion separately managed account (SMA) focused on investments in real estate innovation and high-demand asset classes across major U.S. markets. For more than a decade, the National Pension Service has been a strategic partner and co-investor with Tishman Speyer.

The NPS-Tishman Speyer platform will also commit capital for the acquisition and development by Breakthrough Properties of life sciences real estate. A joint venture between Tishman Speyer and life sciences investment firm Bellco Capital, Breakthrough Properties is currently advancing a number of major investments in the largest life sciences clusters in Boston and San Diego and maintains a pipeline of potential investments in many established and emerging life sciences markets. Bellco Capital is a direct investment firm founded in 2003 by Rebecka Belldegrun, M.D. and Arie Belldegrun, M.D.

The platform will make investments in promising proptech companies, especially at nascent stages in their growth cycles. NPS and Tishman Speyer will specifically target investments in disruptive technologies that are transforming how all stakeholders experience real estate.

NPS will become the anchor investor in Tishman Speyer’s newly established affordable housing platform.

In addition, the NPS-Tishman Speyer partnership will seed the creation of a new mezzanine lending arm within Tishman Speyer that will originate and acquire high-yield loans tied to various sectors of real estate in gateway cities and growing innovation markets.

In 2020, NPS inked a massive real estate partnership with Hines.

Keywords: Tishman Speyer Properties, Hines Group.

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