Tishman Speyer JV launches industrial property platform with two acquisitions
Tishman Speyer announced the acquisition of two “middle mile” distribution centers in Colorado and Pennsylvania.
Tishman Speyer, Hana Financial Group (HFG) and Vestas Investment Management purchased the facilities, both of which are 100 percent leased, from SunCap Property Group, the developer of the properties. The portfolio acquisition is the first by Tishman Speyer and HFG as part of a new $500 million co-investment vehicle targeting a diversity of asset classes and global markets.
As part of the portfolio transaction, Tishman Speyer, HFG and Vestas acquired a 279,000-square-foot class A industrial property located at 4333 Integration Loop in Colorado Springs. It is located approximately three miles from the Colorado Springs Airport.
The second class A industrial facility is located at 17 William Drive in the Imperial neighborhood of Allegheny County, Pa. Completed in 2021, the 278,000-square-foot distribution and sorting center is situated approximately