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Tishman Speyer

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BUSINESS
January 26, 2011 | By Roger Vincent, Los Angeles Times
The vacant former headquarters of Hilton Hotels Corp. in Beverly Hills has been purchased by a New York landlord, underscoring the growing strength of the commercial real estate market as investors swoop in on upscale properties. On Tuesday, Tishman Speyer bought the two adjoining office buildings on Civic Center Drive from Hilton. The hotelier was acquired by corporate buyout giant Blackstone Group in 2007 and moved from Beverly Hills to McLean, Va., in 2009 to be closer to Blackstone's New York headquarters.
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BUSINESS
July 15, 2012 | By Roger Vincent
A high-rise office building on Bunker Hill in downtown Los Angeles has been acquired by CBRE Global Investors, an affiliate of L.A. real estate brokerage CBRE Group Inc. CBRE Global bought 400 S. Hope St., a 26-story tower at the southeast corner of Hope and 4th streets. The price of the sale by New York investors Tishman Speyer and BlackRock Inc. was not disclosed, but downtown real estate experts familiar with the property valued it at $236 million. The 700,000-square-foot building was completed in 1982 to be the headquarters of law firm O'Melveny and Myers.
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REAL ESTATE
September 30, 1990
Tishman Speyer Properties has decided to cancel its long-term master lease at the City National Bank Building in downtown Los Angeles. The 24-story building has now been returned to the control of owner and master lessor Citinational-Buckeye Building Co. Completed in 1967, the building's longtime managing general partners are City National Bank, its chairman, Bram Goldsmith and George Konheim of Beverly Hills-based Konheim Enterprises.
BUSINESS
November 8, 2011 | By Roger Vincent, Los Angeles Times
The bunny is bouncing back to Beverly Hills. Playboy Enterprises Inc. will move its Southern California offices to the former Hilton Hotels headquarters near Beverly Hills City Hall, the magazine publisher said Monday. Playboy, based in Chicago, has agreed to rent 45,000 square feet in a building owned by Tishman Speyer. The New York developer acquired the former Hilton buildings at 9336 and 9346 Civic Center Drive in January and launched a $30-million makeover of the complex built in the 1980s in hope of making it appeal to prosperous tenants.
BUSINESS
September 12, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
The big New York real estate company that recently paid an eye-catching $360 million for Santa Monica's MGM Plaza office complex now plans to develop a new commercial campus in Culver City's Fox Hills district. Tishman Speyer Properties, which has extensive holdings on three continents, is under contract to buy about 11 acres south of Slauson Avenue comprising the undeveloped portion of Corporate Pointe office park.
BUSINESS
February 8, 2003 | From Bloomberg News
Tishman Speyer Properties plans to sell a San Francisco office complex it bought about three years ago that later emptied out in the dot-com bust. The New York-based developer will use the proceeds from the sale of Market Center to help "fulfill the debt obligation on the property," a spokesman said. A $160-million loan on the complex matured Feb. 1 and was expected to default. The 727,242-square-foot complex once served as ChevronTexaco Corp.'s headquarters.
BUSINESS
May 16, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
One of the Southland's biggest office property sales formally closed escrow last week, as New York real estate giant Tishman Speyer Properties took title to the MGM Plaza office and retail complex in Santa Monica. As terms of the sale were being finalized more than a month ago, sources told The Times that Tishman Speyer had agreed to pay a group headed by Los Angeles real estate magnate Rob Maguire at least $360 million for the property.
BUSINESS
October 15, 2009 | Roger Vincent
Los Angeles real estate investor Highridge Partners bought a Santa Ana office building Wednesday as it launched a program to purchase $500 million worth of commercial properties in California. Highridge paid New York developer and landlord Tishman Speyer Properties $31 million for 3 MacArthur Place, an 11-story building completed in 1991 in the master-planned MacArthur Place development. Tishman Speyer paid $83 million for the building near the top of the real estate peak in 2007. The office market, which has been in decline for nearly two years as rents and property values have fallen, is getting worse, said Jack Mahoney, executive vice president of Highridge.
REAL ESTATE
January 3, 1988 | DAVID W. MYERS, David W. Myers is a Times real estate writer. and
Tishman Speyer Properties has signed a long-term master lease that effectively gives it control of the City National Bank Building across from downtown's Pershing Square, and will spend an estimated $20 million to renovate the 25-story structure, The Times has learned. Brokerage sources say the New York-based real estate partnership also has obtained a series of options to purchase the building from its builder and owner, Beverly Hills-based Buckeye Realty & Management Co.
BUSINESS
February 9, 2004 | Roger Vincent, Times Staff Writer
One of Glendale's signature high-rises, the 17-story Glendale City Center, has been purchased for $72 million by Tishman Speyer Properties. The real estate giant bought the 388,000-square-foot office and retail building at 101 N. Brand Blvd. from the Ohio State Teachers Pension Fund. Tishman Speyer's other properties include Rockefeller Center and Chrysler Center in its home city of New York and Colorado Center in Santa Monica. Glendale City Center was built in 1991 by Homart Development Co.
BUSINESS
September 12, 2011 | By Roger Vincent, Los Angeles Times
The Beverly Hills headquarters building of Live Nation Entertainment Inc., the world's largest concert promoter, was sold by former entertainment mogul Michael Ovitz to a New York landlord for $20 million. Tishman Speyer bought the renovated industrial building near City Hall from Ovitz and his partners. The property at 9348 Civic Center Drive was built in 1925 as an ice and cold storage plant and is still known as the Ice House. It was converted into offices in the mid-1990s. Live Nation, which merged with rival Ticketmaster last year, has been the main tenant in the four-story Ice House since 2006 and plans to stay there until at least 2020, according to real estate data provider CoStar.
BUSINESS
January 26, 2011 | By Roger Vincent, Los Angeles Times
The vacant former headquarters of Hilton Hotels Corp. in Beverly Hills has been purchased by a New York landlord, underscoring the growing strength of the commercial real estate market as investors swoop in on upscale properties. On Tuesday, Tishman Speyer bought the two adjoining office buildings on Civic Center Drive from Hilton. The hotelier was acquired by corporate buyout giant Blackstone Group in 2007 and moved from Beverly Hills to McLean, Va., in 2009 to be closer to Blackstone's New York headquarters.
BUSINESS
October 15, 2009 | Roger Vincent
Los Angeles real estate investor Highridge Partners bought a Santa Ana office building Wednesday as it launched a program to purchase $500 million worth of commercial properties in California. Highridge paid New York developer and landlord Tishman Speyer Properties $31 million for 3 MacArthur Place, an 11-story building completed in 1991 in the master-planned MacArthur Place development. Tishman Speyer paid $83 million for the building near the top of the real estate peak in 2007. The office market, which has been in decline for nearly two years as rents and property values have fallen, is getting worse, said Jack Mahoney, executive vice president of Highridge.
BUSINESS
June 27, 2008 | Roger Vincent, Times Staff Writer
Work has begun on the first phase of a $1.2-billion office complex in the Playa Vista development south of Marina del Rey as the popular Westside office market remains strong in the face of the nation's faltering economy. A major tenant for the complex, Belkin International Inc., was announced Thursday by the developers, Tishman Speyer and Walton Street Capital. When completed at the end of next year, the new buildings will be headquarters for technology company Belkin. Belkin will occupy 150,000 square feet, almost half of the space in the four-building first phase of the office campus, after it consolidates other Los Angeles-area offices.
BUSINESS
January 23, 2007 | Roger Vincent and Martha Groves, Times Staff Writers
Two prominent real estate investment firms are planning a major office building complex in Playa Vista, adding another large development to an area already at the heart of a construction boom.
BUSINESS
February 9, 2004 | Roger Vincent, Times Staff Writer
One of Glendale's signature high-rises, the 17-story Glendale City Center, has been purchased for $72 million by Tishman Speyer Properties. The real estate giant bought the 388,000-square-foot office and retail building at 101 N. Brand Blvd. from the Ohio State Teachers Pension Fund. Tishman Speyer's other properties include Rockefeller Center and Chrysler Center in its home city of New York and Colorado Center in Santa Monica. Glendale City Center was built in 1991 by Homart Development Co.
BUSINESS
August 4, 2003 | Roger Vincent, Times Staff Writer
One of Burbank's signature high-rises, the 32-story Tower, has been purchased for $115 million by real estate giant Tishman Speyer as the city's Media District continues to attract entertainment industry tenants and wealthy real estate investors. Tishman Speyer bought the 494,000-square-foot complex alongside the Ventura Freeway from a real estate investment fund managed by Boston-based Beacon Capital Partners.
BUSINESS
January 23, 2007 | Roger Vincent and Martha Groves, Times Staff Writers
Two prominent real estate investment firms are planning a major office building complex in Playa Vista, adding another large development to an area already at the heart of a construction boom.
BUSINESS
August 4, 2003 | Roger Vincent, Times Staff Writer
One of Burbank's signature high-rises, the 32-story Tower, has been purchased for $115 million by real estate giant Tishman Speyer as the city's Media District continues to attract entertainment industry tenants and wealthy real estate investors. Tishman Speyer bought the 494,000-square-foot complex alongside the Ventura Freeway from a real estate investment fund managed by Boston-based Beacon Capital Partners.
BUSINESS
February 8, 2003 | From Bloomberg News
Tishman Speyer Properties plans to sell a San Francisco office complex it bought about three years ago that later emptied out in the dot-com bust. The New York-based developer will use the proceeds from the sale of Market Center to help "fulfill the debt obligation on the property," a spokesman said. A $160-million loan on the complex matured Feb. 1 and was expected to default. The 727,242-square-foot complex once served as ChevronTexaco Corp.'s headquarters.
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