tishman speyer office fund
Acquired between 2008 and 2009
During the peak of the financial crisis while the front pages of business sections were covered with negative news on American office buildings, a trust which invested in office towers (TSO) was sold down to around 10% of its NTA, well below break-up value. Purchasing TSO at the right point in the cycle lead to a return in excess of 700% in approximately 3 years, at which point the fund was acquired.
