The Rockefeller Group, a wholly-owned subsidiary of Mitsubishi Estate, announced this week that it has entered into an agreement to acquire a majority interest in TA Realty LLC, a leading Boston-based real estate investment management firm with approximately $12 billion in assets under management. As part of the acquisition, TA Realty will become The Rockefeller Group's primary real estate investment management platform in the United States, establishing a global investment management platform totaling $32 billion in assets under management on a worldwide basis under Mitsubishi Estate Co., Ltd. Full terms of the deal were not disclosed.
"We're proud to advance our investment management capabilities with the investment in TA Realty in the United States," said Atsushi Nakajima, president and chief executive officer of The Rockefeller Group. "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."
"We are very pleased to join The Rockefeller Group, and by extension the Mitsubishi Estate platform," said Michael Ruane, founder and managing partner of TA Realty. "These are complementary businesses with decades of expertise in real estate investment management. 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."
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