Tishman Speyer Signs Largest Lease Transaction in Firm’s History with Banco do Brasil
- Dec 19, 2013
In the largest lease in Tishman Speyer’s history, Banco do Brasil will be taking all 953,000 square feet of office space in the developer’s three-building Green Towers Brasilia project, now underway in Brazil’s capital, Tishman announced Wednesday.
The tenant, also known as the Bank of Brazil, will be consolidating its headquarters at Green Towers Brasilia. The lease calls for the bank to occupy the project’s three 16-story towers as they’re completed in 2014, 2015 and 2016.
A Tishman spokesperson was unable to disclose the dollar value of either the Green Towers development or of the Banco do Brasil lease.
Designed by Arquitectonica, of Mami, Green Towers Brasilia is located in Brasilia’s Federal District, immediately north of other banking-sector facilities and minutes from the international airport.
The development reportedly will be the first LEED-registered sustainable Class AAA project in Brazil’s capital and will feature the largest green wall of its kind (197 feet high) in Latin America.
By assets, Banco do Brasil is the largest bank in Brazil (and in Latin America) and the third-largest by market value. Founded in 1808, it’s the oldest active bank in Brazil and one of the world’s oldest financial institutions.
The Banco do Brasil transaction follows another large lease with a major Brazilian financial company, at Tishman’s 3500 Avenida Brigadeiro Faria Lima building in São Paulo. Itaú BBA, the investment bank of group Itaú Unibanco, recently moved into about 276,000 square feet of office space there.