Tishman Speyer Buys San Diego Bank Building

Tishman Speyer Properties has reportedly paid American Trading Real Estate Properties Inc., Baltimore, more than $57 million for the Union Bank Building in downtown San Diego.

The 22-story, 19-year-old building is Tishman Speyer’s first San Diego purchase, according to Carl Muhlstein, California partner-in-charge of the New York-based national real estate firm.

Business Real Estate Brokerage Co., San Diego, represented both parties.