The Rockefeller Group has acquired the real estate advisory firm TA Realty as the global owner and developer continues to ramp up its investment management platform.
Rockefeller president Atsushi Nakajima made the announcement this morning (Thursday) noting that investing in what is one of the nation’s largest and most experienced privately held real estate advisors would advance Rockefeller’s own investment management capabilities.
“TA Realty brings an experienced management team with more than 20 partners averaging more than a decade with the firm. The team’s long tenure and industry experience signals a strong cultural fit with The Rockefeller Group, on top of the complementary business objectives of both companies,” said Nakajima.
In the past four years, the Rockefeller Group has successfully established its own investment management. The company became a strategic investor in European property fund manager Europa Capital in 2010, and closed its first U.S. property fund in 2013, which is now fully invested.
Boston-based TA Realty, established in 1982, has acquired, invested and/or managed over $22 billion of real estate on behalf of hundreds of U.S. and non-U.S. institutional investors.
The firm currently manages four active value-added commingled funds and multiple separate accounts comprising more than 77.2 million square feet of commercial real estate and 14,600 residential units in 35 U.S. markets.
As a member of The Rockefeller Group, TA Realty will continue to execute its strategic investment approach within its core and value-added related strategies.
The acquisition will establish a global investment management platform totaling $32 billion in assets under management on a worldwide basis under Mitsubishi Estate Co., Ltd. The Rockefeller Group is a wholly-owned subsidiary of Mitsubishi Estate.
Michael Ruane, founder and managing partner of TA Realty, said, “Our investors will benefit from the strengths of this partnership as it ensures the sustainability of TA Realty’s investment management culture for many years to come.
“ In addition, the partnership allows for the opportunity to expand the breadth of equity to our partners and key professionals enhancing our alignment with investors.”
The combined AUM for The Rockefeller Group’s existing investment management platform, including Rockefeller Group U.S. Premier Office Fund LP, separate accounts and Europa Capital, total approximately $4 billion. Mitsubishi Estate manages approximately $16 billion through Japan Real Estate Asset Management Co. Ltd., manager of the listed J-REIT Japan Real Estate Investment Corporation, as