Bouwinvest and Tishman Speyer launch investment vehicle targeting premier office assets in leading U.S. cities

The Bouwinvest-Tishman Speyer SMA will target institutional quality office buildings in U.S. markets with strong fundamentals, resilient demand, and limited new supply. Its strategy will focus on core-plus and value-add opportunities and may invest alongside other Tishman Speyer-managed office-focused vehicles and mandates, as well as like-minded institutional investors.

The SMA joins a Tishman Speyer club focused on U.S. office investment strategies. The club currently has approximately $700 million of equity capital available, representing approximately $1.5 billion of purchasing power.

In addition to the nation’s traditional gateway cities, including New York, Boston, Chicago and San Francisco, Tishman Speyer will pursue opportunities in America’s established growth markets.

“We are pleased to expand our investing partnership with Bouwinvest through this new mandate,” said Tishman Speyer Senior Managing Director Nate Shanok. “Together, we see attractive opportunities to acquire well-located office assets in markets with durable demand drivers and limited new supply, and reposition them to meet the evolving needs of today’s customers.”

“The Chrysler Building is a fitting first investment for this mandate and shows how we invest internationally: selectively, early in the cycle and through specialist partners like Tishman Speyer. We now see a compelling tactical opportunity in the US Office market to invest with a strong locational focus and brown-to-green angle,” said Bouwinvest Director North American Investments Robert Wagenaar. “We built these capabilities over more than two decades for bpfBOUW, our largest client and our shareholder. With its continued support, we are now making our international platform available to a broader group of institutional investors looking for active access to opportunities that are difficult to reach on their own.”

Bouwinvest is an established multi-client real estate investment manager serving more than 35 institutional clients. It originates from bpfBOUW, the Dutch construction workers’ pension fund. Bouwinvest has outperformed its global benchmark across multiple time periods and won Best Global Indirect Strategy and Best Global Listed Strategy at the 2026 IPE Real Estate Global Awards.

The new mandate builds on an existing partnership: Bouwinvest recently participated in the first closing of Tishman Speyer’s Korea Living Venture (KLV), a new approximately $400 million fund dedicated to acquiring, repositioning, and developing multifamily and accommodation properties throughout Seoul.

At the Chrysler Building, Tishman Speyer will undertake an extensive building improvement and hospitality program, which will breathe new life into the 1.3 million-square-foot tower. The investment aims to reposition the Chrysler Building as one of Manhattan's most distinctive new boutique office buildings, pairing one of the world's most iconic addresses with a workplace experience designed for today's customers.

Photo credit: C. Taylor Crothers, CTC Creative