Tishman Speyer has formed a joint venture to develop and acquire premium properties in several high-growth Chinese cities. GSC Partners, a privatefirm with more than $9 billion of Asian properties under management, will partner with Manhattan-based Tishman Speyer on the new venture. The combined group will develop and buy high quality commercial, residential and mixed-use properties in Shanghai and Beijing. The venture’s initial offices will be located in Beijing.
“China is the world’s fastest growing economy and we expect the continued modernization and urbanization taking place there to propel that country’s expansion for many years to come,” says Katherine Farley, senior managing director at Tishman Speyer. “The expertise of our team on the ground will distinguish us in the marketplace and will allow us to deliver the highest quality commercial and residential.”
Tishman Speyer owns a 74 million sq. ft. portfolio of properties throughout the world that is valued at roughly $20.6 billion.