Tishman Speyer secures Basis Investment Group as equity partner on Santa Monica development

Tishman Speyer has secured the Basis Investment Group (BIG) as an equity partner in the Santa Monica Collection, its portfolio consisting of eight development sites across nearly 3.1 acres in downtown Santa Monica, Calif.

BIG has committed $30 million – 11 percent of the total equity – to the development, which will encompass 617 apartments, 116 of which will be designated as affordable, and approximately 31,000 square feet of retail.  With entitlements in place, Tishman Speyer expects to start work on the first four buildings in early 2023 with the remaining four commencing in 2024.