Showing posts with label rob speyer. Show all posts
Showing posts with label rob speyer. Show all posts

Tuesday, April 3, 2012

Rob Speyer: Juggling a Global Office Portfolio

Following new deals in Frankfurt and Paris, in January Tishman Speyer acquired Eland House, a London office building, for more than $300 million. With financing for deals in Europe increasingly hard to come by, the move is a bold assertion of the investment firm’s faith in the durability and long-term value of Europe’s financial capitals.

Full article and Rob Speyer interview is here.

Tuesday, December 13, 2011

Lawyers Division Honors Musoff, Mechanic

At the sold-out UJA-Federation of New York's Lawyer's Division Annual Event, Jonathan L. Mechanic of Fried, Frank and Scott D. Musoff of Skadden, Arps, Slate, Meagher & Flom LLP were honored by more than 630 of their peers in the legal and real estate community.

The attendees raised more than $1.6 million for UJA-Federation's annual campaign to address the issues that matter to them most as Jews and New Yorkers.

Jonathan L. Mechanic received the Judge Joseph M. Proskauer Award, presented by Robert Speyer, president and co-CEO of Tishman Speyer Properties.

The Proskauer Award is UJA-Federation's most prestigious award given to a member of the legal community. Since 1959, this honor has been given annually to an individual who is committed to philanthropy and whose conduct and service exemplify the highest ideals of the law. In addition to Mechanic's professional achievements, he is a longtime supporter and contributor to UJA-Federation of New York. He is the first real estate lawyer to receive this honor.

UJA-Federation also honored Scott D. Musoff, an emerging leader in the legal community, with the James H. Fogelson Young Leadership Award. Musoff received this award, presented by Jay B. Kasner of Skadden, Arps, Slate, Meagher & Flom, for his deep commitment to the Jewish community, service to UJA-Federation, and dedication to Jewish communal leadership.

In the spirit of Joseph M. Proskauer and helping those in need, participants chose to forgo their dinner, donating hot meals to feed those in need at area agencies this holiday season. The four agencies receiving these meals, all beneficiary agencies of UJA-Federation, include the Bronx Jewish Community Council, Jewish Community Council of Canarsie, Project ORE of the Educational Alliance, and Selfhelp Community Services.

The event did include hors d'oeuvres, cocktails, and a dessert reception and after-hours party hosted by the Lawyers Division's Emerging Leaders & Philanthropist.

Wednesday, December 7, 2011

Rob Speyer Attends Rockefeller Center 79th Annual Christmas Tree Lighting Celebration

At 8:58 p.m. Wednesday November 30th evening, Mayor Michael R. Bloomberg and Jerry I. and Rob Speyer, CEOs of Tishman Speyer and co-owner of Rockefeller Center, flipped the switch to light the Rockefeller Center Christmas. Standing 74-feet tall at 10-tons, the 75 year old Norway Spruce glistened as a newly enhanced Swarovski crystal star rested at the top.

Wednesday, August 10, 2011

Tishman Speyer Announces Record-Breaking Lease in Paris

With the newly acquired lease of Lumiere, the largest privately owned office building in Paris, occupancy rate of Tishman Speyer's entire 10-building Paris portfolio is nearly 100 percent.

Paris, France (PRWEB) August 10, 2011

Tishman Speyer today announced the largest lease transaction ever completed in the city of Paris. The French Ministry of the Interior has agreed to lease 38,000 square meters – approximately 400,000 square feet -- at Lumière, which is the largest privately owned office building in Paris. The Ministry is expected to take occupancy in late 2012.

The property is owned within Tishman Speyer's European Strategic Office Fund (ESOF), which controls office assets in several major European cities. With this new transaction, the occupancy rate of Tishman Speyer's entire 10-building Paris portfolio, totaling approximately 350.000 square meters (3.75 million square feet), is nearly 100 percent.

Lumière is located at 40, avenue des Terroirs de France in the 12th District, close to the 14 hectares park of Bercy. The area, part of the Eastern business district of Paris, is an established office market with excellent road and metro access, allowing access to the center of the city in 10 minutes. Built in 1992, the property consists of seven floors above the two-story lobby level, branched into two wings from an impressive atrium. Each wing has a separately configured building at each end. Existing tenants include Natixis, SNCF, ING Direct, and Société Générale. The Ministry’s space will include a private auditorium and a nursery.

“Over the past 14 years, we have been able to develop and acquire many of the best office properties in the best locations in major European cities,” said Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer. “By building such a portfolio and managing it well, we are able to attract the highest quality tenants, as evidenced by this transaction.”

Senior Managing Director Michael Spies, head of the firm’s European operations, added, “Lumière has proven to be an ideal investment for our European Strategic Office Fund, and our local team has done a fantastic job in managing this asset to its full potential. Given its local prominence and superb location in the Paris office market, we anticipate that the property will continue to benefit from strong tenant demand.”

“Especially considering the current challenges in the marketplace, we are very pleased that Lumiere is now fully leased with high-credit quality tenants,” said Bernard Penaud, senior managing director and head of Tishman Speyer’s operations in France. “The Ministry is a great addition, and we look forward to serving its office needs going forward.”

About Tishman Speyer (http://www.tishmanspeyer.com)

Tishman Speyer is one of the leading developers, owners, operators, and asset managers of first class real estate worldwide. Active across North America, Europe, South America, and Asia, many of the world’s most prestigious corporations rely on Tishman Speyer to meet their office space needs. Since its founding in 1978, the firm has acquired, developed and/ or managed a portfolio of over 116 million sq. ft. valued at over USD $50.2 billion. Signature assets include New York’s Rockefeller Center and the Chrysler Center, Frankfurt’s MesseTurm and Opernturm, Sao Paulo’s Torre Norte, and Ventura Corporate Towers in Rio de Janeiro. Tishman Speyer has projects in different stages of development in Shanghai, Chengdu and Tianjin.

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Wednesday, August 3, 2011

Tishman Speyer confirms Sanctuary buy

Tishman Speyer has today confirmed its purchase of Sanctuary Buildings in London’s Victoria, which was first revealed by Property Week in June.

It has paid around £175m for the government-let properties located at 14-26 Great Smith Street in London SW1, from clients of Vico Capital.

The 227,000 square-foot building is located in the heart of Westminster, within five minutes walk of the Houses of Parliament and Westminster Abbey.

It is 100 percent leased to the Secretary of State for Communities and Local Government, and is occupied by the Department of Education.

“This is a solid investment for our European Core Fund, which also holds assets in Paris and Munich,” said Tishman Speyer co-chief executives Jerry Speyer and Rob Speyer. “We have a very positive long-term view of the London office market and are pleased that we were able to acquire this well-positioned asset.”

Julian Stocks, managing director and UK head, said: “This property has tremendous assets that will make it a strong performer over the long-term. Its central location, in the heart of Westminster, makes it hugely attractive to a broad range of tenants.”

Friday, April 1, 2011

OVER 1000 BUILDINGS JOIN THE AUTISM SPEAKS LIGHT IT UP BLUE CAMPAIGN TO CELEBRATE WORLD AUTISM AWARENESS DAY AND AUTISM AWARENESS MONTH

Iconic Buildings and Landmarks in Over 180 U.S. Cities and 30 Countries Around the World will Shine a Bright Blue Light on Autism

NEW YORK, N.Y. (April,1 2011) – Tonight, Autism Speaks, North America’s largest autism science and advocacy organization, will kick-off its 2nd annual Light It Up Blue (LIUB) campaign – a unique global initiative to celebrate World Autism Awareness Day and help raise funds and awareness of autism as a growing public health crisis.

More than 1000 structures in over 180 U.S. cities and 30 countries will join Autism Speaks to shine a bright light on autism. Iconic landmarks around the world – including the Empire State Building and the Intrepid Sea, Air & Space Museum in New York City, the Willis Tower in Chicago, Universal Studios in Hollywood and Orlando, STAPLES Center in Los Angeles, and the Rock and Roll Hall of Fame in Cleveland, along with the Niagara Falls and CN Tower in Canada, Gano Bhabon, the Official Residence of the Prime Minister and hundreds of other buildings in Bangladesh, Christ the Redeemer Statue in Brazil and the Sydney Opera House in Australia – as well as airports, bridges, museums, concert halls, schools/universities, restaurants, and retail stores, will light up in bright blue this evening to help kick off Autism Awareness Month and celebrate World Autism Awareness Day on April 2.

The public can actively participate in LIUB by supporting the campaign virtually with the launch of a free Light It Up Blue iPhone App and new Build a Blue Website. The LIUB app is available at the iTunes Store and allows users to become part of this global initiative by turning their own pictures blue with a choice of five different style frames. Users are encouraged to upload the photos to the live stream on LightItUpBlue.org. In an effort to help raise much needed funds for research, participants can also Build a Blue Website and ask friends and family to support Autism Speaks by making a donation to their personal page.

To coincide with the campaign, Autism Speaks launched a new 30 second PSA starring 5th graders from Pelham, N.Y., singing an original song composed by one of their classmates for LIUB. The PSA debuted the week of March 21 on broadcast and cable television and SiriusXM satellite radio and is live on AutismSpeaks.org. As part of its ongoing, award-winning public service ad campaign, to promote autism awareness and encourage participation in the LIUB initiative, Autism Speaks has once again produced web banners that can be downloaded for free.

Individuals interested in finding fun and creative ways to participate in LIUB should visit LightItUpBlue.org. The website provides a number of ideas from hosting autism-themed gatherings to viewings of autism-themed films and TV programs to wearing the Autism Speaks puzzle piece pin or by purchasing specially marked blue light bulbs and LED lanterns sold exclusively at Home Depot to light the exterior of your house. The site also accepts donations to fund autism awareness and research efforts.

“We are very grateful to these landmark buildings, and dedicated corporate, retail and media partners for illuminating blue tonight to support World Autism Awareness Day and Autism Awareness Month,” says Suzanne Wright, co-founder of Autism Speaks. “Tonight, our message of autism awareness will certainly reach millions of people around the world as we light the skies like a beacon of hope for all those affected by this public health crisis.”

The following Autism Speaks corporate and retail partners will Light It Up Blue by raising autism awareness in stores starting on April 1 and 2:


Toys“R”Us
Build-A-Bear
Dollar General
etnies
FelCor Lodging Trust
Gaylord Hotels
LAMAR Digital Media
Lindt
The Home Depot
White Castle
Zappos
Zale Corporation
Bergdorf Goodman
Bloomingdale’s
Coldwater Creek
Elizabeth Arden
Lord & Taylor
Neiman Marcus
Nest Fragrances
Ralph Lauren
Scentsy
The NBC Experience Store
T.J. Maxx
Walgreens

About Autism
Autism is a complex neurobiological disorder that inhibits a person's ability to communicate and develop social relationships, and is often accompanied by behavioral challenges. Autism spectrum disorders are diagnosed in one in 110 children in the United States, affecting four times as many boys as girls. The prevalence of autism increased 57 percent from 2002 to 2006. The Centers for Disease Control and Prevention have called autism a national public health crisis whose cause and cure remain unknown.

About Autism Speaks
Autism Speaks is North America’s largest autism science and advocacy organization. Since its inception in 2005, Autism Speaks has made enormous strides, committing over $160 million to research and developing innovative new resources for families. The organization is dedicated to funding research into the causes, prevention, treatments and a cure for autism; increasing awareness of autism spectrum disorders; and advocating for the needs of individuals with autism and their families. In addition to funding research, Autism Speaks has created resources and programs including the Autism Speaks Autism Treatment Network, Autism Speaks’ Autism Genetic Resource Exchange and several other scientific and clinical programs. Notable awareness initiatives include the establishment of the annual United Nations-sanctioned World Autism Awareness Day on April 2, which Autism Speaks celebrates through its Light it Up Blue initiative. Also, Autism Speaks award-winning “Learn the Signs” campaign with the Ad Council has received over $258 million in donated media. Autism Speaks’ family resources include the Autism Video Glossary, a 100 Day Kit for newly-diagnosed families, a School Community Tool Kit and a community grant program. Autism Speaks has played a critical role in securing federal legislation to advance the government’s response to autism, and has successfully advocated for insurance reform to cover behavioral treatments in 24 states thus far, with bills pending in an additional 12 states. Each year Walk Now for Autism Speaks events are held in more than 80 cities across North America. To learn more about Autism Speaks, please visit www.autismspeaks.org.

About the Co-Founders
Autism Speaks was founded in February 2005 by Suzanne and Bob Wright, the grandparents of a child with autism. Bob Wright is Senior Advisor at Lee Equity Partners and Chairman and CEO of the Palm Beach Civic Association. He served as Vice Chairman of General Electric; and as the Chief Executive Officer of NBC and NBC Universal for more than twenty years. He also serves on the boards of the Polo Ralph Lauren Corporation, Mission Product, LLC and the New York Presbyterian Hospital. Suzanne Wright is a Trustee Emeritus of Sarah Lawrence College, her alma mater. Suzanne has received numerous awards, the Women of Distinction Award from Palm Beach Atlantic University, the CHILD Magazine Children’s Champions Award, Luella Bennack Volunteer Award, Spirit of Achievement award by the Albert Einstein College of Medicine's National Women’s Division and The Women of Vision Award from the Weizmann Institute of Science. In 2008, the Wrights were named to the Time 100 Heroes and Pioneers category, a list of the most influential people in the world, for their commitment to global autism advocacy. They have also received numerous awards such as the first ever Double Helix Award for Corporate Leadership, NYU Child Advocacy Award, Castle Connolly National Health Leadership Award and The American Ireland Fund Humanitarian Award. In May of 2010 they received Honorary Doctor of Humane Letters Degrees from St. John’s University in Queens and delivered the commencement address as the first married couple to be bestowed such an honor.

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Tuesday, February 22, 2011

Nearly 1,000 Participants To Climb 66 Floors To The Top of The Rock™ Observation Deck at Rockefeller Center® While Raising Critical Funds And Awarenes

NEW YORK, NY - The New York City – Southern New York Chapter of the National Multiple Sclerosis Society will host Climb to the Top on Sunday, February 27, 2011, at 6:30 a.m. at 30 Rockefeller Plaza. The event is expected to draw nearly 1,000 participants who will climb 66 flights of stairs to the Top of the Rock™ Observation Deck on the 69th floor of the famed NYC skyscraper and raise more than $700,000 toward a world free of MS.

DATE: Sunday, February 27, 2011
TIME: 6:00 to 10 a.m.
PLACE: Top of the Rock™ Observation Deck, 30 Rockefeller Plaza, New York City
REGISTRATION: Visit www.climbMSnyc.org, call 212-463-9791 or e-mail climbms@msnyc.org.

2011 Climb to the Top Sponsors
Competitor Magazine, Crystal Geyser, D’Agostino, Financial Times, Jamaica Hospital Medical Center, New York Sports Clubs, Oasis Day Spa, Pop Chips, Raw Revolution, Tishman Speyer, Top of the Rock™ Observation Deck.

About the New York City – Southern New York Chapter
The New York City – Southern New York Chapter of the National MS Society is committed to helping the 10,000 people living with multiple sclerosis in the five boroughs and Westchester, Putnam, Rockland, Orange and Sullivan counties continue moving their lives forward. The chapter raises funds locally to support the Society’s critical research initiatives and to provide hundreds of comprehensive support services and educational programs for people living with MS, their family and friends. Visit www.MSnyc.org for more information.

About the National Multiple Sclerosis Society
MS stops people from moving. The National MS Society exists to make sure it doesn’t by helping each person address the challenges of living with MS. In 2009 alone, through its national office and 50 state network of chapters, the Society devoted more than $132 million to programs that enhanced more than one million lives. To move closer to a world free of MS, the Society also invested nearly $36 million to support 375 research projects around the world.
Early and ongoing treatment with an FDA-approved therapy can make a difference for people with multiple sclerosis. To learn about the options, individuals should talk to their health care professionals and contact the National MS Society at www.nationalMSsociety.org or 1-800-344-4867 (1-800-FIGHT-MS).

About Multiple Sclerosis
Multiple sclerosis interrupts the flow of information between the brain and the body and it stops people from moving. Every hour in the United States someone is newly diagnosed with MS, an unpredictable, often disabling disease of the central nervous system. Symptoms range from numbness and tingling to blindness and paralysis. The progress, severity and specific symptoms of MS in any one person cannot yet be predicted, but advances in research and treatment are moving us closer to a world free of MS. Most people with MS are diagnosed between the ages of 20 and 50, with more than twice as many women as men being diagnosed with the disease. MS affects more than 400,000 people in the U.S., and 2.5 million worldwide.

About Top of the Rock™
Situated in midtown Manhattan, Top of the Rock ™ provides visitors with an opportunity to appreciate the architecture of Rockefeller Center and its significance to the growth of New York City. Tishman Speyer, co-owners of Rockefeller Center, is committed to the preservation and restoration of Rockefeller Center, which is the site of numerous public exhibits and events, including annual installations of public art and live broadcast of sports championships. Each day an estimated 350,000 people walk through the Rockefeller Plaza complex, which is home to the world’s most famous Christmas Tree. Visit www.topoftherocknyc.com or www.rockefellercenter.com for more information.

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Monday, January 10, 2011

NEW YORK BLOOD CENTER CELEBRATES 10,000TH BLOOD DONOR AS PART OF “SKYSCRAPERS FOR LIFE” PROGRAM

New York, NY – New York Blood Center (NYBC) and Tishman Speyer will celebrate their 10,000th anonymous volunteer to donate blood on January 24, 2011 at 600 Fifth Avenue at Rockefeller Center between 9:30 am and 3:30 pm. The event is part of the “Skyscrapers for Life” program and will kick-off a week-long blood drive at Rockefeller Plaza. For more information about the blood drive, the public can call New York Blood Center at 1-800-933-2566 or visit their website at www.nybloodcenter.org.

Since 2004, NYBC has hosted tenant blood drives with Tishman Speyer as part of its “Skyscrapers for Life” campaign, sponsored by MetLife. The campaign’s efforts are aimed at providing workers in Manhattan’s multi-tenant skyscrapers the opportunity to give blood and save a life.

“New York Blood Center relies on thousands of blood donors each day to help us meet our mission of providing a safe and adequate blood supply. But without the support of corporate and community partners like Tishman Speyer, getting to these individuals would be much more challenging,” said Rolf Kovenetsky, Vice President of Corporate & Community Relations for NYBC.

“We are proud to be a supporter of New York Blood Center’s efforts to save lives,” said Thomas Madden, Managing Director for Tishman Speyer. “New York Blood Center is a vital organization to our city and we encourage everyone to give blood and help save a life.”

New York Blood Center, serving more than 20 million people in New York City, Long Island, the Hudson Valley, New Jersey, and parts of Connecticut and Pennsylvania, call upon the community to continue to donate blood, the gift of life, during the winter season. The winter season is a time when blood supplies diminish while hospital and patient needs remain the same. It is also a time when it becomes more difficult to find precise blood matches for patients with rare blood types. Somewhere, someone is fighting for his or her life.

Please consider donating at a blood drive or donor center in your community or near your place of work. Please call New York Blood Center at 1-800-933-2566 or visit us online at www.nybloodcenter.org to schedule an appointment to donate. You can donate whole blood every 56 days, plasma every 28 days, and platelets every 3 days.

Blood donors receive free mini-medical exams on site including information about their temperature, pulse rate, blood pressure and hemoglobin level. Eligible donors include those people at least 16-years-old (with parental permission or consent), who weigh a minimum of 110 pounds, are in good health and meet all Food & Drug Administration and NY or NJ State Department of Health donor criteria. People over 75 may donate with a doctor’s note. Proper photo identification is required from each donor. Please eat a good meal the day of your donation.

About New York Blood Center: New York Blood Center (NYBC) is one of the nation's largest non-profit, community-based blood centers. Since 1964, NYBC has been providing blood, transfusion products and services to hospitals. NYBC serves more than 20 million people in New York City, Long Island, the Hudson Valley, New Jersey, and parts of Connecticut and Pennsylvania. NYBC is also home to the Lindsley F. Kimball Research Institute and the National Cord Blood Program at the Howard P. Milstein National Cord Blood Center, the world's largest public cord blood bank. NYBC provides medical services and programs (Clinical, Transfusion, and Hemophilia Services) through our medical professionals along with consultative services in transfusion medicine. Please visit us on Facebook at www.Facebook.com/newyorkbloodcenter. Follow us on Twitter: @NYBloodCenter.

About Tishman Speyer: Tishman Speyer is the co-owner and manager of Rockefeller Center, the world-famous real estate, shopping and dining complex in the heart of midtown Manhattan. Rockefeller Center is the site of numerous public exhibits and events, including large-scale installations of public art by world-renowned artists including Takashi Murakami, Jeff Koons and Jonathan Borofsky. Tishman Speyer has earned a worldwide reputation for innovative utilization of public art in its signature commercial properties, which include Rockefeller Center and Chrysler Center. Tishman Speyer is committed to the preservation and restoration of Rockefeller Center and the historic Top of the Rock Observation Deck at Rockefeller Center, one of New York’s top attractions. Each day an estimated 350,000 people visit the Rockefeller Plaza complex, which during the holidays is home to the most famous Christmas Tree in the world.

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Thursday, December 23, 2010

The 2010 Rockefeller Center Christmas tree will help build a Habitat for Humanity home in Newburgh, N.Y.

NEW YORK CITY – The Rockefeller Center Christmas Tree will be donated to Habitat for Humanity for the fourth consecutive year to help build a simple, decent and affordable home.

After the holiday season, the 78th annual Christmas Tree will be milled into lumber in Rockefeller Plaza. The lumber will be used for the framing of exterior walls of a home built by Habitat for Humanity of Greater Newburgh, located in the mid-Hudson Valley of New York, near the community of Mahopac where the tree grew.

“We are extremely pleased and grateful to Tishman Speyer for this donation,” said Marci Gurton, Director of Development, Habitat for Humanity of Greater Newburgh. “This lumber is so valuable because it will help a hard-working family in need of decent housing to own their own home. The special nature of this gift also raises awareness about the critical need for affordable housing in our community and the ongoing efforts for neighborhood revitalization.”

Habitat Newburgh focuses its work in the east end of the city, improving the area street-by-street by renovating abandoned houses and building new homes in partnership with low-income families. Newburgh is one of the most distressed urban areas in the country. To date, Habitat for Humanity of Greater Newburgh has built or rehabilitated 43 houses that 225 children and adults now call home and has added more than $8.3 million to assessed property values.

“The Rockefeller Center Christmas Tree is a symbol of the holiday season for millions of people across the country and around the world,” said Jonathan Reckford, CEO of Habitat for Humanity International. “Habitat for Humanity is both humbled and proud to have an ongoing role in this great tradition, and with the help of volunteers, we will see that the lumber is put to good use to bring hope to a family in the form of better housing.”

“We are delighted to donate the lumber from the Rockefeller Center Christmas Tree to Habitat for Humanity for the fourth consecutive year," said Thomas Madden, Managing Director, Tishman Speyer. "During the holiday season thousands of people from around the world come to visit Rockefeller Center to view the tree and we are proud to see this holiday symbol live on and continue to bring joy to a deserving family in Newburgh.”

Habitat used the 2007 Rockefeller Center Christmas tree lumber to help build a home in Pascagoula, Miss., in partnership with a Hurricane Katrina survivor. Lumber from the 2008 tree was used to help build shelving in a multi-unit building constructed by Habitat for Humanity – New York City. The 2009 Rockefeller Christmas tree lumber was used in the construction of a home in Stamford, Conn.

About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built, rehabilitated, repaired or improved more than 400,000 houses worldwide, providing simple, decent and affordable shelter for more than 2 million people. For more information, or to donate or volunteer, visit Habitat.org.

About Habitat for Humanity of Greater Newburgh
Habitat for Humanity of Greater Newburgh builds homes and community in Newburgh, New York, a small city on the Hudson River about 60 miles north of New York City. Habitat Newburgh is dedicated to providing decent, affordable housing in partnership with local, hard-working families in need. Reaching across religious, cultural, and racial boundaries, we seek to restore a sense of community with the common goal of strong neighborhoods and dignity through homeownership.

About Tishman Speyer
Tishman Speyer is the co-owner and manager of Rockefeller Center, the world-famous real estate, shopping and dining complex in the heart of midtown Manhattan. Rockefeller Center is the site of numerous public exhibits and events, including large-scale installations of public art by world-renowned artists including Takashi Murakami, Jeff Koons and Jonathan Borofsky. Tishman Speyer has earned a worldwide reputation for innovative utilization of public art in its signature commercial properties, which include Rockefeller Center and Chrysler Center. Tishman Speyer is committed to the preservation and restoration of Rockefeller Center and the historic Top of the Rock Observation Deck at Rockefeller Center, one of New York’s top attractions. Each day an estimated 350,000 people visit the Rockefeller Plaza complex, which during the holidays is home to the most famous Christmas Tree in the world.

Friday, August 13, 2010

Tishman Speyer Successfully Negotiates with Banks to Retake Control of 19 Acres at Playa Vista

Los Angeles, CA (PRWEB) August 12, 2010- Tishman Speyer announced recently that it has concluded a transaction to retake control of 19 acres of zoned office development land in West Los Angeles at The Campus at Playa Vista. In January, the firm completed the first phase of the Campus at Playa Vista development -- a 325,000-square-foot four-building project that is 70 percent leased to Belkin International and the University of Southern California - and has entitlements to develop approximately 600,000 square feet of additional commercial office space on the property.

With the completion of this transaction Tishman Speyer can complete its Master Planned Campus that will surround the recently completed Central Park. The new park, recently honored by the American Institute of Architects / LA, includes horticulture gardens, a soccer field, basketball and volley ball courts, and an outdoor amphitheater.

"We are extremely pleased to consummate this transaction which will enable us to develop this property as the West Los Angeles office market recovers," said Tishman Speyer Senior Managing Director John Miller. "Playa Vista has a great future as the region's foremost sustainable mixed-use work/play community and we intend to do our part to bring it to its full potential."

The transaction does not include a group of historic industrial buildings and land surrounding those buildings, which will continue to be controlled by the receiver for the lenders who financed the original acquisition in 2007.

Located in the eastern portion of the Playa Vista community, The Campus at Playa Vista is adjacent to the intersection of Jefferson Boulevard and Centinela Avenue in West Los Angeles and in close proximity to some of Southern California's premiere beaches. The recently-completed portion of the project was constructed in accordance with LEED Gold standards.

About Playa Vista

Today, more than 6,500 people live at Playa Vista, the first mixed-use community to be built in West Los Angeles in the last 50 years. With 70 percent of its original 1,086-acre land area designated as parks and open space, Playa Vista has been hailed as a model urban development, including recognition as a recipient of the prestigious Ahwahnee Award. Situated between Marina Del Rey and Westchester, just about a mile from the beach, Playa Vista is adding critically needed housing on Los Angeles' Westside. Commercial, retail and open space are mixed into this balanced community. All properties are located within walking distance of at least one of a dozen parks, and the community is within easy reach of Santa Monica, Venice, Century City and LAX.

About Tishman Speyer (www.tishmanspeyer.com)

Tishman Speyer is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York's Rockefeller Center and Chrysler Center, Berlin's Sony Center and Torre Norte in São Paolo, Brazil.

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