Axis AMC and Tishman Speyer announce partnership to develop Commercial Real Estate

Highlights:

• Axis AMC’s strategic partnership with Tishman Speyer to develop best in class office buildings emphasizing on “3 S”: ‘Sustainability’, ‘Safety’ and ‘Serviceability’.


• The platform’s strategy is to develop primarily greenfield commercial projects across key 8 markets in India (MMR, NCR, Bangalore, Hyderabad, Chennai, Pune, Ahmadabad and Kolkata) Complimentary skill sets of the partners in the exclusively tied-up platform:


• The platform will be able to leverage the strong development, leasing and management capability of Tishman Speyer which has since its inception acquired, developed and operated a portfolio of over 217 million square feet with a total value of over $126 billion spread over 512 assets globally (Source: Tishman Speyer, as on Mar 31, 2022)

Mumbai, July 26, 2022: Axis Asset Management Company Limited (“Axis AMC”), one of India’s fastest growing asset management company promoted by Axis Bank Limited, has entered into a strategic partnership with Tishman Speyer, a leading international developer, owner and operator of world class real estate. The platform intends to invest in early stage or greenfield commercial real estate projects across 8 key markets, aiming to create best in class office buildings to be leased to marquee clients. The platform will develop buildings with emphasis on “3 S”: ‘Sustainability’, ‘Safety’ and ‘Serviceability’. The platform plans to achieve this objective by exercising end to end control on the project lifecycle across design, development, leasing and property management through its partnership with Tishman Speyer. Tishman Speyer will act as the exclusive Development Manager for the platform.

Axis AMC is confident of the long term potential of the commercial real estate. The last 6-8 years have seen significant activity and deepening of secondary markets in commercial real estate through participation by both institutional and retail investors. The resilience of the asset class has been evident through the improved demand in 2022. The partners believe that, this is an opportune time to create a platform to cater to the discerning demands of the occupiers in post COVID era. The platform is uniquely placed to achieve its objectives by leveraging Tishman Speyer’s capabilities in design, development, and property management with deep experience in developed markets.

On the launch of the partnership, Mr. Amitabh Chaudhry, MD&CEO, Axis Bank Limited said, “It gives me great pleasure to see Axis AMC tying up with Tishman Speyer to tap into the greenfield Commercial real estate opportunity, and I strongly believe that together we can create a compelling offering in this asset class. This platform once again showcases Axis AMC as an asset manager that has been at the forefront of product innovation, offering quality long-term solutions to our investors”.

Mr. Rob Speyer, Chief Executive Officer, Tishman Speyer said “We are excited to partner with Axis AMC to produce the next generation of high-quality office environments for local and global companies operating in India. We look forward to exploring potential opportunities in such key markets as Mumbai, Pune, Bangalore, Hyderabad and NCR”.

On the initiative, Mr. Chandresh Nigam, MD & CEO, Axis AMC said, “Axis AMC is creating a market leading alternatives platform that provides unique non-correlated investment avenues. Although market has products focusing on rent generating commercial assets, the Axis platform will provide unique opportunity in the development stage in commercial assets. We are also extremely excited to partner with Tishman Speyer – their expertise will be invaluable in making this offering a success. We have extremely capable real estate team under the leadership of Mr. Balaji Rao (Managing Partner, Real Estate) which I am confident of achieving the objectives of the platform”.

About Axis AMC: Axis AMC is one of India`s fastest growing assets managers offering a comprehensive bouquet of asset management products across mutual funds, portfolio management services and alternative investments. Over the last 5 years Axis AMC has invested in significantly broadening its alternatives capabilities. Today the company manages over approx. Rs. 4,400 Cr across its PMS and AIF businesses across capabilities including Real estate, private equity, structured credit, quantitative and listed equities.

About Tishman Speyer: Tishman Speyer is a leading owner, developer, operator, and investment manager of first-class real estate around the world. Founded in 1978, Tishman Speyer is active across the United States, Europe, Latin America, and Asia, building and managing premier office, residential, life science, and retail space in 32 key global markets for industry-leading tenants.

Disclaimer:

Securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the platform’s strategy will be achieved. As with any securities investment, the value of a portfolio can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Axis AMC may not be indicative of the performance in the future. This document is for informational purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy the securities or other investments mentioned in it. Investors are not being offered any guaranteed or indicative returns through these services.

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All investors must read all the detailed documents related to platform’s strategy, including the Risk Factors and consult their stockbroker, banker, legal adviser and other professional advisers to understand the contents of this document and/or before making any investment decision/contribution to AIF.

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