# Tishman Speyer Secures $300 Million First Close for Korea Living Venture with APG and Bouwinvest

- Link: https://www.thailand-business-news.com/pr-news/tishman-speyer-secures-300-million-first-close-for-korea-living-venture-with-apg-and-bouwinvest
- Published: 2026-06-04T22:20:00+07:00
- Author: PR Newswire

**European Pension Investors Back Strategy Focused on Korea’s Rapidly Expanding 
Rental Housing Market**

NEW YORK, June 4, 2026 /PRNewswire/ — Tishman Speyer today announced the first closing
of its Korea Living Venture (KLV), securing $300 million in third-party equity commitments
from two blue chip European pension funds for a new fund dedicated to acquiring,
repositioning, and developing multifamily and accommodation properties throughout
Seoul.

 [⌊Seoul Skyline⌉](https://mma.prnasia.com/media2/2995139/Tishman_Speyer_Seoul_Skyline.jpg?p=medium600)

Seoul Skyline

The commitments from APG Asset Management N.V. (APG) and Bouwinvest provide a strong
foundation for KLV, which is targeting approximately $400 million of equity commitments
which would represent more than $800 million of investment capacity, including anticipated
financing. The strategy underscores growing institutional conviction in Korea’s 
rapidly expanding rental housing sector, one of the fastest-growing multifamily 
markets in Asia.

APG is one of the world’s largest pension investors, managing assets on behalf of
Dutch pension fund, ABP.

Bouwinvest is a leading Dutch institutional real estate investment manager focused
on creating long-term value through diversified investments across global residential
and real estate sectors on behalf of pension clients.

KLV will target assets near major transportation hubs with convenient access to 
business districts and university campuses in Seoul, Icheon, Gyeonggi-do and other
high-growth neighborhoods throughout the capital region.

Leveraging Tishman Speyer’s value-add and placemaking expertise, the fund primarily
focuses on existing living assets with value enhancement opportunities, while maintaining
selective exposure to development projects. This integrated approach balances near-
term stability with long-term growth, enabling KLV to assemble a diversified portfolio
of high-quality living assets.

Seoul is experiencing a boom in rental demand, underpinned by structural socio-economic
shifts such as rising housing costs, increasing single-person households, and growing
numbers of foreign residents and international students. Together, these dynamics
are contributing to the long-term depth and resilience of the city’s rental market.

"The Korea living sector represents a large but under-institutionalized opportunity,
fueled by growing demand and constrained supply," said Tishman Speyer’s Head of 
pan-Asia, Graham Mackie. "This strategy allows us to scale our presence in a high-
growth market while further diversifying Tishman Speyer’s global portfolio."

Joelin Ma, Senior Director Real Estate at APG, comments: 
"Korea’s living sector
is a strong example of the structural opportunities we are targeting across Asia’s
developed markets. Demographic shifts, rising rental demand and the growing adoption
of professionally managed accommodation continues to support strong long-term fundamentals,
and we see this as an attractive way to access resilient, income-generating real
estate exposure in the region. Our partnership with Tishman Speyer and Bouwinvest
combines strong local execution with structural flexibility, including a potential
pathway towards an open-ended core vehicle, in line with APG’s long term approach
to core real estate investing." 

Robert Koot, Director Asia-Pacific Investments at Bouwinvest, comments:
"Our Korea
Living strategy reflects our strong conviction in the long-term fundamentals of 
one of Asia’s most dynamic and institutionally maturing residential markets. Building
on our global experience in the living sector, we believe that partnering with APG
and Tishman Speyer positions us very well to create a high-quality, scalable portfolio.
As part of our performance strategy, we aim to contribute to the evolution of urban
living by delivering sustainable, future-ready housing solutions that meet the needs
of modern Korean households, while generating resilient, long-term returns for our
client."

Jorrit Sennema, Sr Portfolio Manager at Bouwinvest, comments:
"Seoul’s residential
market is at an important inflection point. A significant part of the existing housing
stock is ageing and no longer aligned with the needs of today’s urban population.
At the same time, the rapid growth of single-person households is fundamentally 
reshaping demand, creating a clear need for well-designed, professionally managed
living solutions. This imbalance presents a compelling opportunity to deliver modern,
high-quality housing that better reflects how people live today, while driving the
continued institutionalisation of the sector."

The vehicle further builds upon Tishman Speyer’s continued global diversification
strategy, which prioritizes investments in a widening range of asset classes and
geographies.

_This article is for informational purposes only and does not constitute an offer
to sell or a solicitation of an offer to subscribe for any interests in any jurisdiction._

**About Tishman Speyer **([**tishmanspeyer.com**](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4704358-1&h=53874171&u=http%3A%2F%2Fwww.tishmanspeyer.com%2F&a=tishmanspeyer.com))

Tishman Speyer is a leading owner, developer, operator and investment manager of
first-class real estate in approximately 40 key markets across the United States,
Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential
communities, premier office properties and retail spaces, industrial and data center
facilities, mixed-use campuses, and real estate credit investments. We create state-
of-the-art life science centers through our Breakthrough Properties joint venture,
and foster innovation through our strategic proptech investments. With global vision,
on-the-ground expertise and a personalized approach, we foster innovation, quickly
adapt to global and local trends and proactively anticipate our customers’ evolving
needs. By embedding health and wellness, enlightened placemaking, and customer-focused
initiatives such as our tenant amenities platform, ZO, and our flexible space and
co-working brand, Studio, into our buildings, we enhance the experience of the people
who work and live there. Since our inception in 1978, Tishman Speyer has acquired,
developed, and operated 600 properties, totaling 242 million square feet, with a
combined value of approximately $138 billion (U.S.). Our current portfolio includes
such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai,
TaunusTurm in Frankfurt, and the Mission Rock neighborhood currently being realized
in San Francisco.

**About APG (****[https://apg.nl/en](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4704358-1&h=2929712801&u=https%3A%2F%2Fapg.nl%2Fen&a=https%3A%2F%2Fapg.nl%2Fen))**
As the largest pension services provider in the Netherlands APG manages approximately
€601 billion (December 2025) in pension assets for 4.6 million participants. APG
provides executive consultancy, asset management, pension administration and pension
communication. With approximately 4,000 employees we work from Heerlen, Amsterdam,
Brussels, New York, Hong Kong, and Singapore. We work for pension funds and employers
in the sectors of education, government, construction, cleaning, housing associations,
sheltered employment organizations, medical specialists, and architects. 

**About Bouwinvest ([https://bouwinvest.com/](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4704358-1&h=3380439636&u=https%3A%2F%2Fbouwinvest.com%2F&a=https%3A%2F%2Fbouwinvest.com%2F))
At Bouwinvest, we are committed to creating financial returns for our institutional
clients. Originating from the Dutch construction workers pension fund bpfBOUW, we
have built up a unique position as an investment manager overseeing €17.8 billion
in assets (YE 2025). We offer institutional investors access to a carefully curated
portfolio of Dutch direct investments and targeted global indirect investments, 
while also providing tailored investment opportunities. In line with our investment
philosophy, we recognize that achieving long-term success and outperformance is 
only possible when ESG considerations are an integral part of our investment decision
making, when these considerations align with delivering financial returns within
our investment horizon. By integrating both, we balance the preservation and growth
of future financial value for our investors while making a positive contribution
to society. To us, that is _real value for life_.

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