Tishman Speyer has invested $135m (€124m) in the US to buy a high-rise residential tower.

The investment manager said it has acquired The Eddy apartment tower located on the East Boston waterfront in Boston from Green Cities Company.

The 17-storey building was built in 2016 and features 259 rental apartments.

The deal reprsents the first multifamily acquisition in Boston for Tishman Speyer. The firm already owns office, life science, retail and condominium properties throughout the Boston region.

Jessica Hughes, a managing director at Tishman Speyer, said: “Our acquisition of The Eddy is emblematic of Tishman Speyer’s ongoing desire to develop, own and operate top quality, well-located properties across a diverse array of asset classes.

“It is also a testament to the enduring strength of the Boston market and the continued growth of its residential neighborhoods, especially along the waterfront. We are grateful to the team at Green Cities for developing this exceptional, resilient, multifamily community and for their spirit of collaboration throughout this transaction.”

To read the latest edition of the latest IPE Real Assets magazine click here. 

Topics