Tishman Construction Group

What Tishman Construction Group does

Tishman is a privately held real estate and investments organization founded in 1898, operating through four core entities: Tishman Realty (vertically integrated real estate ownership, development, and operations), Tishman Capital Partners (a Registered Investment Advisor managing alternative investment funds), Tishman Real Estate Services/TRESCO (commercial real estate advisory), and Tishman Hotel Corp (hotel asset management). The firm owns and operates a hotel portfolio of 7,172+ keys across 13+ properties in the US, including the Walt Disney World Swan, Dolphin, and Swan Reserve complex, plus branded assets under Marriott, Hilton, and InterContinental flags. Tishman Realty also develops and repositions office, retail, and residential assets, with $15B+ in transactions structured through TRESCO and $8B+ in debt and equity sourced across the portfolio.

The business model combines direct real estate ownership and operations (generating rental income, hotel operating revenue, and asset appreciation) with fee-based advisory services through TRESCO and asset management fee streams through Tishman Capital Partners' alternative investment funds, including a $232.5M Special Situations Credit Fund (launched 2020, unwound 2022) and a $300M Qualified Opportunity Zone Fund (launched 2021). Tishman has offices in New York, Chicago, and Orlando, and serves institutional investors, high-net-worth individuals, corporate tenants, and franchise/brand partners. The firm is family-controlled (Tishman and Vickers families), with Dan Tishman as Chairman and John Vickers as CEO; the original construction business was divested to AECOM in the 2010s, and the remaining entity was rebranded Tishman Realty.

Name

Tishman Construction Group

Legal name

THR Management LP

Website

https://tishman.com

Company type

Private

Founded year

1898

Operating status

Operating

Headcount range

1–10 employees

Short description

Tishman is a privately held, family-controlled real estate and investments firm founded in 1898, operating a vertically integrated platform spanning hotel ownership (7,172+ keys), commercial real estate development, advisory services (TRESCO), and alternative investment management (TCP) for institutional and high-net-worth clients.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment and Development

NAICS

Offices of Real Estate Agents and Brokers (5312), All Other Financial Investment Activities (52399), Trust, Fiduciary, and Custody Activities (523991), Other Financial Vehicles (52599)

SIC

Real Estate (6500), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Assets Fund of Funds (Real Estate / Infrastructure / Natural Resources FoF) (FSAHAKAG)

akta.pro secondary industry

Estate Planning, Trust Structuring & Governance (FSAAADAF)

Keywords

• Commercial real estate investment
• Hotel ownership management
• Real estate development
• Alternative investments management
• Commercial leasing services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Real Estate Investment and Development: Tishman acquires, develops, repositions, and operates real estate assets across hospitality, retail, office, and residential sectors. Revenue is generated through asset appreciation, rental income, and capital gains on investment properties.
2. Hotel Ownership and Management: Tishman operates hotels across the United States through Tishman Hotel Corp, providing asset management services for its own portfolio and select third-party clients. The firm generates revenue through hotel operations including rooms, food and beverage, and meeting/event spaces.
3. Real Estate Advisory Services (TRESCO): Tishman Real Estate Services (TRESCO) provides strategic commercial real estate advisory services including development management, investment advisory, acquisition property management, tenant and landlord representation, commercial leasing, and management services for external clients.
4. Investment Management: Through Tishman Capital Partners (TCP), a Registered Investment Advisor (RIA), the firm manages alternative investment funds including credit opportunities funds, opportunity zone funds, and securities investments for institutional and qualified investors.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Tishman is a vertically integrated real estate and investments organization that owns, develops, operates, and invests in real estate assets across hospitality, retail, office, and residential sectors in major US markets. Through Tishman Capital Partners (a Registered Investment Advisor), the firm also manages alternative investment funds including credit opportunities and opportunity zone vehicles for institutional and qualified investors, while TRESCO provides third-party commercial real estate advisory and property management services.

Product overview

Tishman is a real estate and investments firm organized into distinct business units rather than a unified product platform. Tishman Realty serves as the core real estate operating entity, offering development, opportunistic investing, hotel ownership/operation, and leasing/management services (including TRESCO advisory services). Tishman Capital Partners operates as a separate Registered Investment Advisor (RIA) platform managing alternative investments including credit funds, opportunity zone funds, and seed investments in portfolio companies like Quantinno and Outerspace. The hotel portfolio represents owned/operated hospitality assets under major brands (Marriott, Hilton, InterContinental). Transactions have exceeded $15 billion across 12+ million square feet.

Differentiator

Problem solved

Functional benefit

Products and services

• Tishman Real Estate Services (TRESCO)

Quantifiable outcome

• 108% increase in net operating income at 275 Seventh Avenue after repositioning
• +4 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor, core and flagship.

• NorthLight FoundationminorStrategic or Co-development Partner · 19 June 2026Dan Tishman's NorthLight Foundation partnered with Colby College to acquire Port Clyde commercial properties in Maine to rebuild a fire-devastated fishing village, funded by $6 million in NorthLight Foundation grants.
• Cross Lake PartnerscoreStrategic or Co-development Partner · 27 April 2022Tishman Realty and Cross Lake Partners jointly acquired the Wyndham Grand Orlando Bonnet Creek. Cross Lake Partners is a hospitality-focused investment firm, and this partnership represents a core co-investment relationship for hotel acquisitions.
• BIG OutdoorcoreStrategic or Co-development Partner · 1 January 2017Tishman partnered with BIG Outdoor, a national media ad sales company, to rework the digital billboard presence at E-Walk Times Square. The partnership doubled the digital billboard presence with approximately 7,500 square feet of digital-out-of-home canvas.
• Walt Disney WorldflagshipStrategic or Co-development PartnerTishman has operated the Walt Disney World Swan & Dolphin Resort complex since the late 1980s, developing additional towers including the Swan Reserve in 2021. This is a flagship multi-decade hospitality partnership.
• Marriott InternationalcoreStrategic or Co-development PartnerTishman operates multiple Marriott-branded hotels including Westin New York at Times Square, Aloft Chicago Mag Mile, and Delta Hotels Orlando Celebration under management agreements with Marriott.
• HiltoncoreStrategic or Co-development PartnerTishman operates Homewood Suites and Hilton Garden Inn properties near Walt Disney World under franchise agreements with Hilton.

Scale indicators8 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Vornado Realty Trust: Vornado is a NYC-focused REIT that owns, develops, and manages premier office and retail properties in Manhattan — directly comparable to Tishman's NYC concentration and Times Square/E-Walk retail exposure.
• SL Green Realty: SL Green is a Manhattan-focused REIT and real estate operator — comparable to Tishman Realty's NYC commercial office/retail ownership and TRESCO advisory business.
• RXR Realty: RXR is a New York-based private real estate owner, operator, and developer active across office, residential, and hospitality — comparable to Tishman's vertically integrated NY-anchored real estate platform.
• The Howard Hughes Corporation: Howard Hughes develops and operates large-scale, master-planned communities and commercial properties — comparable to Tishman's development and asset management capabilities across hospitality, retail, and residential.
• The Related Companies: The Related Companies is a privately held, vertically integrated real estate firm that develops, owns, and manages mixed-use, affordable, and luxury properties across the US — directly comparable to Tishman's owned-developer-operator model across asset classes.
• Highgate Hotels: Highgate is a leading hotel ownership, management, and investment firm operating major branded and independent hotels — comparable to Tishman Hotel Corp's ownership and asset management of branded hotels including Marriott and Hilton flags.
• Host Hotels & Resorts: Host Hotels is a lodging REIT that owns luxury and upper-upscale hotels under Marriott, Hilton, and Hyatt flags — closely comparable to Tishman Hotel Corp's 13-property, 7,172-key portfolio operated under major brands.

Broad incumbents

• Brookfield Asset Management: Brookfield's Real Estate Group operates a scaled global real estate investment and operating platform with opportunistic, value-add, and core strategies — comparable to Tishman Capital Partners' alternative investment offerings and Tishman Realty's owned portfolio.
• Blackstone Real Estate: Blackstone's real estate division is the largest global RE PE platform, investing across hospitality, office, residential, and credit — comparable to Tishman's vertically integrated real estate ownership plus Tishman Capital Partners' fund management activities.

Emerging players

• Rockpoint Group: Rockpoint is a real estate-focused private equity firm making opportunistic and value-add investments — comparable to Tishman Capital Partners' opportunistic investment strategy and Special Situations Credit Fund approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tishman

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tishman Construction Group