DLA Piper has represented long-standing client Ping An Insurance, one of the largest insurance companies in China, through its subsidiary Ping An Real Estate, on a landmark investment in Tishman Speyer's Pier 4, a Boston, U.S.A. commercial real estate project, valued at US$ 500 million.

Pier 4, in Boston's Seaport District, is a prime waterfront development which is set to include a 13-story commercial building and a nine story residential building, in an evolving and dynamic area of the city.

The project marks the latest in a series of outbound investment by large Chinese conglomerates and a growing trend of Chinese insurance companies investing overseas. This is the first time that Ping An have made an equity investment into U.S. real estate and the first time they have co-invested, alongside China Life, outside of China.

Lillian Duan, partner at DLA Piper said: "This is a fantastic investment by Ping An Real Estate and we are pleased to be part of such an important transaction for them. This deal is testament to the growing amount of outbound investment we are seeing from China into the United States, and further testament to our strong cross-border offering between the two regions."

The deal was led by Ross Green (Partner, Real Estate) and Lillian Duan (Partner, Real Estate). Roy Chan (Client Relationship Partner for Ping An) and Stephen Cowan (Partner, Real Estate) play a key role in managing client relationship and the execution of the matter.