Rob Speyer, co-CEO with his father, Jerry, of New York’s Tishman Speyer real estate business, “is learning how to weather a commercial real estate rout,”
Business Week
reported.
“At least four big deals made by the firm as property prices peaked are unraveling,” the article said. The industry is beset by falling prices and rising vacancies, the report noted.
Tishman Speyer, which Jerry Speyer co-founded with Robert Tishman in 1978, is a $33.5 billion empire that includes the Met Life Building in New York, the Civic Opera Building in Chicago and the Paris Bourse.
Rob Speyer, 40, who was a journalist for the
New York Observer
and the
New York Daily News
before joining his father’s firm, “hasn’t experienced the boom and bust cycles of his father, who at 69 is a 30-year industry veteran,”
Business Week
reported.
With $2 billion in cash, the Speyers have so far been able to continue their dealmaking….. [T]he Speyers continue to look for trophy properties.
(Source:
Business Week,
Jan. 18, 2010.)
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