- Posted at 1:32, December 19, 2013
- By Russ Bleemer
Green Towers Brasília
New York real estate titan Tishman Speyer Properties LP has signed the largest lease in its history. And it's located in Brazil.
The firm, no stranger to big deals as one of the largest commercial landlords in the world whose holdings include the Chrysler Building, announced earlier this week that it has agreed to a lease that will consolidate operations for Banco Do Brasil in about 953,00 square feet.
The pricing was not disclosed.
The bank is the first tenant announced for the Green Towers complex in Brasilia, the nation's capital. It which began construction in May 2010. The three buildings will roll out over the next three years. Brazil's largest bank is expected to fill the full available office space of nearly 915,000 square feet.
A Wall Street Journal analysis notes that the "move is a win for Tishman’s bet on speculative construction in Brazil. In recent years, Tishman generally has been doing much of its development in markets such as Brazil and China, while shying away from building new office buildings in the U.S. and Europe."