January 21, 2003 |
With Metro-Goldwyn-Mayer Inc. packing its bags for a move to Century City, the landlord of MGM Plaza in Santa Monica is about to begin a major renovation to improve the aging landmark in the highly competitive Westside office market. Owner Tishman Speyer Properties will spend $17 million to transform the 15-acre property with six buildings from a stark concrete locale into a lush corporate campus and public park.
May 29, 2008 |
Leaving for New York today from the artist's Topanga studio is Chris Burden's sculpture "What My Dad Gave Me," a 65-foot, 16,000-pound skyscraper made of approximately 1 million replica toy construction parts. The work, to be presented by Public Art Fund and hosted by Tishman Speyer, co-owners of Rockefeller Center, will be displayed at Rockefeller Center June 10-July 19. Burden's assistant, Katy Lucas, said Wednesday that the artwork, a tribute to Burden's father, who worked at Rockefeller Center, would travel in three pieces via oversized truck for about a week.
May 29, 2007 |
Tishman Speyer Properties and Lehman Bros. Holdings Inc. are close to a deal to acquire real estate investment trust Archstone-Smith Trust, according to Monday's Wall Street Journal online edition. The total value of the deal could top $20 billion, including debt, the report said. Lehman, Tishman and Archstone-Smith could not be immediately reached for comment. Archstone-Smith has a market capitalization of about $12.3 billion.
CALIFORNIA | LOCAL
May 13, 1988 |
American Trading Real Estate Partners on Wednesday sold the 22-story Union Bank building at 525 B St. for about $50 million, according to a spokeswoman for the San Diego-based real estate company that handled the transaction. Business Real Estate Brokerage Co., which represented both the buyer and the seller, declined to state the exact sales price. However, a spokeswoman on Thursday acknowledged that the sale price was in the neighborhood of $50 million.
October 18, 2006 |
MetLife Inc. said Tuesday that it had agreed to sell two adjoining Manhattan apartment complexes for $5.4 billion in one of the largest U.S. real estate transactions on record. The company said it would sell Peter Cooper Village and Stuyvesant Town to a joint venture of New York real estate developer Tishman Speyer and the realty unit of BlackRock Inc.
October 4, 2010 |
The California Public Employees' Retirement System, the largest public pension fund in the U.S., said it replaced a unit of BlackRock Inc. as the manager of its $1-billion apartment complex real-estate portfolio. The decision comes after CalPERS was forced to write off a $500-million investment with BlackRock in New York's Stuyvesant Town and Peter Cooper Village through a partnership with Tishman Speyer Properties. CalPERS said it was consolidating the apartment portfolio with GID Investment Advisers, an affiliate of General Investment & Development Cos. CalPERS suffered a 37% loss in its real-estate holdings in the fiscal year that ended June 30, a decline equivalent to 1.3% of the pension fund's market value at the time.
April 17, 2001 |
Crown Realty & Development Inc. has begun construction on the 200,000-square-foot second phase of Wateridge, an office development at La Cienega Boulevard and Slauson Avenue in the Culver City-Fox Hills office market. The new office, which Crown is building on a speculative basis, is on a 21-acre site that includes 330,000 square feet of office space that is 98% leased, said Robert Flaxman, president of Newport Beach-based Crown.