Strategic investment in leading U.S. real estate advisor to establish a globalinvestment management platform with $32 billion in assets under management
LONDON, 30 Oct. 2014 – The Rockefeller Group, the global property owner, developer and investment manager, has entered into an agreement to acquire a majority interest in TA Realty LLC (“TA Realty”), a leading Boston-based real estate investment management firm with approximately $12 billion in assets under management. TA Realty will become The Rockefeller Group’s primary real estate investment management platform in the United States. Terms of the deal, which is scheduled to close by year end, have not been disclosed. The Rockefeller Group is a wholly-owned subsidiary of Mitsubishi Estate Co. Ltd.
In a similar investment in 2010, The Rockefeller Group became a strategic investor alongside management in Europa Capital (“Europa”) by acquiring a majority stake. Since then, Europa has made good progress investing its fourth pan-European fund. Europa has, with The Rockefeller Group’s financial backing, also broadened its activities with the establishment of an income strategies business.
The acquisition of TA Realty will establish a global investment management platform totaling $32 billion in assets under management on a worldwide basis under Mitsubishi Estate Co. Ltd. (“Mitsubishi Estate”).
TA Realty, which was established in 1982, is one of the largest and most experienced privately held real estate advisors in the United States. Since that time, the Firm has acquired, invested and/or managed over $22.0 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.
Europa and TA Realty will be operated as affiliates within The Rockefeller Group with TA Realty operating within North America and European investment management business being conducted by Europa.
About TA Realty
Established in 1982, TA Realty is one of the largest and most experienced privately held real estate advisors in the United States. Since that time, the Firm has acquired, invested and/or managed over $22.0 billion of real estate on behalf of hundreds of U.S. and non-U.S. institutional investors. TA Realty currently manages $12 billion in assets under management comprising four active value-added commingled funds and multiple separate accounts. The firm’s real estate portfolio totals more than 77.2 million square feet of commercial real estate and 14,600 residential units located in 35 markets nationwide.
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors. Since 1995, Europa Capital’s Principals have collectively raised 7 real estate funds and committed to over 80 transactions totaling some €8.0 billion across 18 European countries. The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Further information can be found at www.europacapital.com.
Europa Capital is a member of The Rockefeller Group (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
About The Rockefeller Group
The Rockefeller Group is a leading global real estate owner, developer and investment manager. For more than eight decades, the company has engaged in some of America’s most significant and recognizable real estate endeavors, beginning with the development of one of the world’s finest urban mixed-use complexes, Rockefeller Center in Midtown Manhattan. Since inception, The Rockefeller Group has developed approximately 40 million square feet of commercial property, including more than 5 million square feet since 2008. Today, the company owns, manages and invests in a diversified portfolio of office and industrial assets in key U.S. urban and select suburban markets, as well as in Europe through the firm’s October 2010 strategic investment in the London-based real estate fund manager Europa Capital. The Rockefeller Group is wholly-owned by Mitsubishi Estate Co., Ltd., a world leader in real estate development, ownership and investment management. More information is available at www.rockefellergroup.com