Tishman Speyer Holds First Close on Fund Targeting Multifamily in Seoul
Tishman Speyer reached the first close on its Korea Living Venture (KLV), securing US$300 million in third-party equity commitments from two blue-chip European pension funds for a new fund dedicated to acquiring, repositioning and developing multifamily and accommodation properties throughout Seoul.
The commitments from APG Asset Management N.V. and Bouwinvest provide a strong foundation for KLV, which is targeting approximately $400 million of equity commitments, representing more than $800 million of investment capacity in the fast-growing Korean multifamily market. KLV will target assets near major transportation hubs with access to business districts and university campuses in Seoul, Icheon, Gyeonggi-do and other high-growth neighborhoods throughout the capital region.
“The Korea living sector represents a large but under-institutionalized opportunity, fueled by growing demand and constrained supply,” said Tishman Speyer’s head of pan-Asia, Graham Mackie. “This strategy allows us to scale our presence in a high-growth market while further diversifying Tishman Speyer’s global portfolio.”
Other News
RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
Learn more
Pasadena Offices Sell for Residential Conversion
NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
Learn more
Berkadia Negotiates Student Housing Property Sale in Kansas
Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout