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Tishman Speyer Secures BIG as Equity Partner for LA Project

Tishman Speyer Secures BIG as Equity Partner for LA Project

New York-based Tishman Speyer is planning its first residential development in the Los Angeles market and has secured a $30 million investment from Basis Investment Group (BIG) as an equity partner. The Santa Monica Collection is a portfolio of multifamily rental housing across eight sites on 3.1 acres in Downtown Santa Monica, CA.

A certified minority and woman-owned commercial real estate investment manager, New York-based BIG has committed 11% of the total equity to the project, which will feature 617 units, 116 of them designated as affordable, along with 31,000 square feet of retail. Tishman Speyer is expected to break ground early this year.

“We are excited to partner with Tishman Speyer,” said BIG CEO Tammy K. Jones in a news release. “We applaud Tishman Speyer for being a leader in breaking down barriers and creating access to wealth-creating joint venture opportunities that diverse firms have largely been excluded from.”

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Inside The Story

Tishman SpeyerBasis Investment Group (BIG)Tammy K Jones

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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