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Tishman Speyer Makes Foray into Rio Multifamily

RIO DE JANEIRO—Although economists have lowered their near-term outlook for the country, Tishman Speyer maintains “great confidence in the long-term vitality of Brazil,” says the firm's Rob Speyer.

By Paul Bubny | Updated on March 15, 2015

RIO DE JANEIRO—Even as economists have revised their 2015-2016 outlook for Brazil downward in recent weeks, Tishman Speyer remains bullish on the country’s long-term prospects. The owner/developer said Friday afternoon it planned to build an apartment complex in Rio de Janiero, its first residential development in Brazil’s second-largest city.

To be named Lumina Rio, the project is planned for the city’s Porto Maravilha redevelopment district. Tishman Speyer plans to eventually build four towers at the site; the first, with 360 for-sale residential units, is expected to be delivered within two years after approvals are granted for the project.

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