Heitman LLC, the global real estate investment management firm, has redeemed OM Asset Management plc’s ownership interest in the firm for $110 million.
Heitman, which was previously 50 percent owned and controlled by senior professionals of the firm and 50 percent by an entity controlled by OMAM, is now 100 percent owned and controlled by its senior officers, who will continue in their roles and responsibilities for creating and executing annual business plans, day-to-day operations, the investment and client management process, and setting firm-wide strategy.
“The acquisition of OMAM’s interest in Heitman represents another significant milestone for the firm in our ongoing mission to be one of the leading real estate investment management firms,” said Maury R. Tognarelli, Heitman CEO.
“The consolidation of the firm’s ownership is indicative of the confidence we have in ourselves and further aligns our interests with those of our clients.”
At present, 40 senior professionals from across the firm’s business and support operations share in the ownership. Heitman has approximately $39 billion in assets under management with operations across North America, Europe, and Asia-Pacific.
The firm is headquartered in Chicago, with offices in Los Angeles, London, Luxembourg, Frankfurt, Munich, Warsaw, Hong Kong, Seoul, Tokyo, and Melbourne.