Real estate operation the Rockefeller Group is buying a majority interest in TA Realty LLC for an undisclosed amount.
TA Realty is a Boston-based real estate investment management firm that has about $12 billion in assets under management. The firm's real estate portfolio consists of more than 77.2 million square feet of commercial real estate and 14,600 residential units.
After the deal closes TA will become the Rockefeller Group's primary real estate investment management platform in the U.S. The acquisition establishes a group with $32 billion in assets under management. The Rockefeller group is a subsidiary of Mitsubishi Estate Co. Ltd.
Rockefeller is a real estate owner, developer and investment manager. The company has developed about 40 million square feet of space.
Recent real estate-related transactions include BKM Capital Partners' purchase of three commercial properties for $43 million, and RLJ Lodging Trust's (NYSE: RLJ) purchase of a Florida hotel for $77 million.