Trade Franklin Street Properties Corp
The company was founded in 1978 by Robert Tishman and Jerry Speyer.In March 1988, the company announced its first project in Europe, building a 70-storey tower in Frankfurt, Germany, the tallest tower in the West Europe.In in May 1988, the company acquired the headquarters of J.C. Penny, with $350 million in partnership with Trammel Crowe Real Estate Investors.In 1996, entered into a joint venture to build a $175 million 36-story office building in São Paulo, Brazil.In 1998, in partnership with passenger companies, the company paid $230 million for the mortgage secured by the Chrysler building from Fuji Bank.In 2000, in partnership with Lester Crown, the company acquired rockefeller center for $1.85 billion. In 2002, the company sold Millbank Tower for £115 million. In 2005, the company acquired MetLife for $1.72 billion. In 2006, the company acquired Stuyvesant in partnership with BlackRock. In 2010, the property was handed over to its lenders. In December 2006, the company sold 666 Fifth Avenue for $1.8 billion to Kushner Companies.In 2007, the company began developing a new Yankee Stadium.In September 2007, the company purchased a 6.6 million-square-foot office portfolio in Chicago from the Blackstone Group for $1.8 billion. In 2008, a joint venture between the company and German investors sold 90% of the interest in the Chrysler building to the Government of Abu Dhabi, with the company retaining 10% interest and building management rights. In October 2010, co-founder Robert Tishman died. In November 2010, the company acquired an office tower in Chicago for $380 million, which was less than the cost of building the tower. In August 2013, the company acquired 190 South LaSalle, an 800,000-square-foot office tower in Chicago, from CBRE Global Investors group for $211 million. In September 2013, the company formed a joint venture to develop a 3 million square foot mixed-use project in Shanghai.In 2015, acquired a $1.4 billion loan on the MetLife building and valued the property at $3 billion. In 2016, the company acquired CNN, an office tower in Los Angeles, for $127 million. In 2020, according to an announcement by the New York company, TST, also known as Tin's Secret, bought Tower 2 at the Crystal Plaza Tishman Speier project in Pudong, charging the equivalent of 68,445 yuan per square meter for 26,305 square meters (283,145 square feet). In July 2020, Tishman Speer recruited Gary Rodney to take over the new position of the New York-based company's managing director of Affordable Housing. In January 2021, TS Innovation Acquisitions Corp., a white car sponsored by Tischman Speer, merged with Latch Inc., a result of smart lock and building management software, valued at $1.56 billion and pumped about $450 million into the startup. The startup plans to join nasdaq. As a sponsor of TS Innovation Acquisitions Corp., Ts.A. is reported to be acquiring a stake of about 4% in Latch, valued at about $60 million at the time of closing the deal.