Tishman Speyer hits $395M for Korea residential fund
What's the deal? Tishman Speyer has secured a $75 million commitment from a German pension fund in the second close of its Korea Living Venture (KLV)Dealroom has a profile for this one. Try Dealroom →, lifting total equity commitments to $395 million. The fund builds residential property across the Seoul Metropolitan Area.
Who's backing it? The first close raised $300 million from APG Asset ManagementDealroom has a profile for this one. Try Dealroom → and BouwinvestDealroom has a profile for this one. Try Dealroom →. Combined with Tishman Speyer's $20 million of sponsor equity, the capital effectively meets the firm's initial $400 million target.
What's the endgame? Tishman Speyer expects the commitments to support more than $800 million of total investment capacity once financing is included. KLV targets existing rental properties ripe for value enhancement, with selective exposure to development projects.
The strategy focuses on properties near transport hubs, business districts, and university campuses in Seoul, Icheon, Gyeonggi-do, and other high-growth areas across the capital region.
Why now? Tishman Speyer says Seoul's rental market is benefiting from structural shifts, including rising housing costs, more single-person households, and growing numbers of foreign residents and international students.
KLV made its first acquisition in August 2026, buying Songdo CoStayDealroom has a profile for this one. Try Dealroom →, a stabilised 411-unit furnished residential property in the Songdo International Business District in Incheon. The area hosts multiple universities and roughly 70 biotechnology and life sciences companies.
The deal gives KLV an initial operating asset while it seeks more investments across the region. "This second closing of our KLV fund reflects continued investor conviction in Korea's living sector," said Graham Mackie, head of Pan-Asia at Tishman Speyer.
The signal: KLV extends Tishman Speyer's push into residential property and new markets. Since 2023, the firm has acquired roughly 3,800 units across 13 communities in three countries, with about 7,400 more in its development pipeline — a bet that global renters, not just buyers, now anchor its growth.
Read more: pulse2.com
Image credit: Tishman Speyer
