The Rockefeller Group to Acquire Majority Interest in TA Realty

Strategic investment in leading U.S. real estate advisor to establish a global investment management platform with $32 billion in assets under management

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Rockefeller Group

Oct 30, 2014, 06:40 ET

NEW YORK, Oct. 30, 2014 /PRNewswire/ -- 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, 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 acquisition 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"). The Rockefeller Group is a wholly-owned subsidiary of 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.

As a member of The Rockefeller Group, TA Realty will continue to execute its historical strategic investment approach within its core and value-added related strategies. The firm will complement and accelerate the growth of The Rockefeller Group's investment management platform in the United States.

"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."

The acquisition is viewed by The Rockefeller Group as an opportunity to accelerate its recent success in establishing an investment management platform in the United States and Europe. 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.

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 well as Mitsubishi Jisho Investment Advisors Inc.

About TA Realty

Established in 1982, TA Realty LLC ("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.

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.

SOURCE Rockefeller Group