IMCO and Tishman Speyer form joint venture
The Investment Management Corporation of Ontario (IMCO) and Tishman Speyer have formed a joint venture, established to build a portfolio of new developments and repositioned office and multi-residential properties in major gateway cities across the United States.
The planned investment program bolsters IMCO's commitment to generating strong results for its clients through high-quality assets and developing long-term and mutually beneficial strategic partnerships.
For Tishman Speyer, the venture will facilitate the expansion of its presence in major United States markets specifically by taking advantage of value-add opportunities.
With IMCO’s initial commitment of $500 million and additional co-investment opportunities of $250 million, IMCO and Tishman Speyer will jointly acquire and develop property in major supply-constrained markets, including New York, Washington, D.C., Boston, Los Angeles, San Francisco, Chicago and Seattle.
Investments will target