Landmark buys stake in European RE fund from Japanese bank

The 2007-vintage Tishman Speyer fund holds at least one asset and was focused on value-added investments in western Europe.

Landmark Partners has acquired a stake in a tail-end European real estate fund from Japan’s fifth largest bank.

The private equity and real estate secondaries firm bought The Norinchukin Bank‘s interest in Tishman Speyer European Real Estate Venture VI Scots C, using its LRAF Holdings II vehicle for the transaction, according to a UK regulatory filing.

Tishman Speyer European Real Estate Venture VI is a €1 billion real estate fund that closed in May 2007, according to PEI’s Research & Analytics.

It was not clear when the deal closed.

The fund is managed by real estate investment firm Tishman Speyer and focused on a value-added strategy, acquiring 16 properties in cities including Paris, Berlin, Munich, Frankfurt, Milan and London, according to Tishman Speyer’s website.

One of the assets held in the fund is TaunusTurm, a 40-story office tower in Frankfurt’s banking district, according to a spokeswoman for Tishman Speyer, who would not comment on the deal. Last May, Tishman Speyer sold Elisenhof, a mixed-use, multi-tenant property in Munich which it had held in the fund, to AXA Real Estate for around €230 million, according to media reports.

Tokyo-headquartered Norinchukin had about $903 billion in assets as of 31 December, according to a statement on its website. The bank is currently committed to 11 private equity funds, according to PEI data.

Tishman Speyer manages a real estate portfolio of $76.1 billion across the US, Europe, Latin America and Asia, according to its website.

Landmark and Norinchukin declined to comment.