Tishman Speyer is one of the country’s biggest commercial landlords, with 78 million square feet of real estate. The company raised $300 million in October for its debut SPAC.
“We’ve been an industry that’s been technology-resistant for decades,” Tishman Speyer president and CEO Rob Speyer told
The Real Deal on Monday. “Our customers are demanding more and better.”
On Monday, its first SPAC, TS Innovation Acquisitions Corp., said it would merge with Latch to take the smart-lock maker public in a deal valued at $1.56 billion. That deal will give Latch $510 million in cash, including $190 million from new investors including Chamath Palihapitiya, BlackRock, D1 Capital Partners and Fidelity.