US developer Tishman Speyer has hired industry veteran Graham Mackie as a managing director to lead the firm’s Asia Pacific expansion strategy, with a focus on opportunities outside of Tishman’s established markets of China and India.
Mackie joins Tishman Speyer after 14 years at UBS Asset Management, most recently serving as head of APAC real estate. He has nearly two decades of experience in real estate investment, finance, fund management and development, Tishman Speyer said Thursday in a release.
Mackie will continue to be based in Singapore, which has gained in importance as a hub for fund managers during the pandemic years. Tishman Speyer’s Asia efforts in the past were run from Shanghai, where the firm is developing its flagship mixed-use megaproject, The Springs.
“We are pleased to welcome Graham to help drive our expansion into the Asia Pacific region’s most dynamic urban markets outside of China and India,” said CEO Rob Speyer. “Over the years, Graham has cultivated strong relationships and built a track record of successful investing in a range of asset classes in cities such as Singapore, Tokyo and Sydney.”
Tours at UBS and AXA
During his time at UBS Asset Management, Mackie managed more than $18 billion in real estate assets across Japan, Australia and Singapore. He previously worked for two years as an analyst for AXA Investment Managers in Tokyo before moving to the Lion City in 2008.
Mackie holds a master’s degree in business management from the University of St Andrews in Scotland and a diplome de commerce from Ecole Superieure du Commerce in Amiens, France.
New York-based Tishman Speyer’s Asian operations were led from Shanghai by Ryan Botjer before his relocation a few years ago to the firm’s Chicago regional office, where he continues to oversee the China business led by country CEO Wilson Chen.
Tishman Speyer’s portfolio of assets and development projects in China comprises 19.4 million square feet (1.8 million square metres). Aside from The Springs, which will feature 10 million square feet of offices, residences, hotels, restaurants, retail, entertainment and cultural venues, the company’s Chang’an Mills urban renewal project has converted a former Beijing factory into a mixed-use office and retail campus.
In India, Tishman Speyer has developed 5.2 million square feet of mixed-use projects since 2006, including the WaveRock office campus in Hyderabad acquired by an Allianz-managed fund for $250 million in 2019.
Tishman Speyer’s hiring of the Singapore-based Mackie is the latest example of how the centre of gravity in real estate fund management has shifted to the city-state in recent years.
Savills Investment Management made headlines in 2019 with the appointment of Alex Jeffrey as the London-based firm’s global CEO, working from his base in Singapore. US developer Hines opened its Singapore office in 2020 as a regional hub for the Houston-headquartered firm’s investment management business in Asia.
Hong Kong-based ESR, the third-largest listed real estate investment manager globally, is led from Singapore by chairman Jeffrey Perlman, and Germany’s Allianz Real Estate also stations its regional team in the Lion City.