This week, Tishman Speyer Co-CEO Rob Speyer announced China Life Insurance Group and Ping An Insurance Company as co-investors in Tishman Speyer’s development of Pier 4 in Boston’s Seaport District.
“Tishman Speyer has been an active investor and developer in China for more than a decade,” said Speyer. “In that time, we have forged strong, productive relationships with both China Life and Ping An. We are really pleased that they have chosen to join us on this project.”
The waterfront development will include a one-acre public park, a nine-story residential building and a 13-story office tower. Both buildings will include ground floor retail/restaurant space and are expected to obtain LEED gold certification.
This partnership marks the first time China Life and Ping An, China’s two biggest insurance companies, have made equity investments in American real estate and have invested in real estate outside of China.
Read more on Tishman Speyer’s history in China in The Wall Street Journal.