Tishman Speyer and Hana Financial Group (HFG) today announced the creation of a strategic partnership that will co-invest in a diverse range of asset classes in the United States, Europe and Asia.
According to the Memorandum of Understanding (MOU) signed today by Tishman Speyer President and CEO Rob Speyer, HFG Chief Global Strategy Officer Jong-seong Lee and HFG Head of Infrastructure Division Myung-chul Shin, HFG will deploy up to $500 million of equity capital over the next two years in pursuit of Tishman Speyer-sponsored real estate opportunities.
When evaluating joint investment opportunities, Tishman Speyer and HFG will place an emphasis on asset classes and properties that promote innovation and ESG (Environmental, Social, and Governance) factors.
“Hana Financial Group and Tishman Speyer share a passion for projects that drive innovation, support local communities and improve the quality of life for people around the globe,” said Tishman Speyer President and CEO Rob Speyer. “This joint platform will be a springboard for our collective mission.”
“Tishman Speyer is a world-class company with extensive experience investing in real estate projects in cooperation with many of the leading global institutional investors,” said Jihoon Kang, Head of the Global Strategy Team at Hana Financial Group. “This MOU will open the door for Hana Financial Group to strengthen its investment capabilities in the ESG sector and contribute to the Group’s efforts to achieve its vision of protecting the environment and of providing happiness to all members of our society.”
Hana Financial Group was established in 1971 in Seoul, South Korea, where it maintains its global headquarters. Today, HFG employs approximately 22,000 people and operates more than 1,000 branches with assets under management of more than $390 billion.
In 2019, the company bought Le Cristalia, a seven-story building near Paris fully leased to Bristol-Myers Squibb (pictured top), from Tishman Speyer for $194 million.
Tishman Speyer operates in 28 markets across the United States, Europe, Asia and Latin America. Its portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai Early rendering top), TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.