Hana Financial to jointly invest in properties with Tishman Speyer

Entrance to the headquarters of Hana Financial Group in Seoul [YONHAP]

Hana Financial Group announced Wednesday it signed a memorandum of understanding with Tishman Speyer, a New York real estate company, on Tuesday to jointly invest in real estate globally.

Based on the partnership, the parties agreed to pursue up to $500 million capital investments into properties over the next two years.

One major criteria the two will consider when selecting real estate to invest in will be related to the environmental, social and governance (ESG) management of real estate, for instance, the energy efficiency of a building.

With the coronavirus pandemic making longer-than-expected impact on people's lives globally, the companies will actively look for investment opportunities in bioscience research labs and production facilities for medical devices and pharmaceuticals.

Tishman Speyer, founded in 1978, is one of largest real estate investors in the United States. Major properties in its portfolio include the Rockefeller Center and the MetLife Building in New York and Sony Center in Berlin.

BY KIM JEE-HEE [kim.jeehee@joongang.co.kr]