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Tishman Speyer, Mitsui Fudosan JV for Industrial Development, Acquisitions
Tishman Speyer and Mitsui Fudosan America (MFA) have formed a new programmatic joint venture dedicated to the acquisition, development, redevelopment and operation of industrial properties in leading U.S. cities.
The newly created Tishman Speyer-Mitsui Fudosan America Logistics Venture will be seeded by an initial $500-million commitment from an MFA affiliate along with co-investment capital from Tishman Speyer. The funds will be used to pursue ground-up development projects and the major repositioning or redevelopment of existing value-add industrial acquisitions.
“The evolving needs of today’s consumer have generated strong demand for well-located, functional industrial properties,” said Tishman Speyer CEO Rob Speyer. “This is especially true in the most supply-constrained urban centers. Through this new joint venture, we intend to create and operate facilities that bring companies closer to their customers.”
Tishman Speyer launched its industrial platform in December 2021 with the acquisition of two distribution centers in Pittsburgh and Colorado Springs.
- ◦Sale/Acquisition
- ◦Development