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Diplomat Properties LP history
Diplomat Properties LP company history timeline
In 1959 the company also began leasing office and factory equipment and aircraft.
Its management decided in 1976 to liquidate the company and use its assets for a cash distribution to the shareholders--of whom the largest group by far consisted of members of the Tishman family.
1978: Tishman Speyer Properties (TSP) is established with Jerry Speyer as chief executive officer.
By 1981 Tishman Speyer had built enough equity from its projects to buy out this group.
TSP took an equity interest in the property and moved its headquarters there after completion in 1981.
One of its few losers was 1515 Broadway, a 54-story midtown Manhattan office tower purchased in 1985 in partnership with Equitable and other investors.
By the fall of 1987 Tishman Speyer's portfolio had grown to 25 properties, with 18 million square feet of space owned or managed by the firm and a cumulative market value of $4.2 billion.
The actual construction was in the hands of hired outside managers supervised by TSP. A company executive told Ronald Derven of National Real Estate Investor in 1988, "The people on our staff come from either a design or construction background.
One Manhattan deal that proved attractive to Tishman Speyer was the purchase of 1301 Avenue of the Americas--the headquarters of J.C. Penney Co.--for $353 million in 1988.
1990: TSP completes continental Europe's tallest building in Frankfurt, Germany.
Construction of two office towers in Mountain View and Santa Clara was scheduled to begin in 2000.
TSP had nine overseas offices in 2001.
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Diplomat Properties LP may also be known as or be related to DIPLOMAT PROPERTIES LP and Diplomat Properties LP.