Real estate firm The Rockefeller Group is acquiring a majority interest in real estate money manager TA Realty, said Rockefeller spokesman Dwayne Doherty.
Terms of the deal, which is expected to close by the end of the year, were not disclosed.
The acquisition will create a global money management platform “totaling $32 billion in assets under management on a worldwide basis under Mitsubishi Estate Co. Ltd.,” said a news release from Rockefeller. Mitsubishi Estate is the parent company of Rockefeller Group.
TA Realty has $12 billion in assets under management and Rockefeller Group, $4 billion.
TA Realty spokeswoman Kerry Gallagher did not return a phone call by press time.