NEW YORK CITY—The Rockefeller Group, headquartered here, has agreed to acquire a majority interest in Boston-based TA Realty LLC, will become its primary real estate investment management platform in US. The deal is scheduled to close by the end of 2014; terms were not disclosed.

TA Realty currently has about $12 billion in assets under management. Its integration into the Rock Group will establish a global investment management platform totaling $32 billion in assets under management under Mitsubishi Estate Co. Ltd., parent company of the Rock Group. Mitsubishi Estate manages approximately $16 billion through its Japan Real Estate Asset Management Co. Ltd., while the Rock Group's AUM total $4 billion across its platform, which includes Rockefeller Group US Premier Office Fund LP, separate accounts and Europa Capital, in which it became a strategic investor in 2010.

Among the largest and most experienced private held real estate advisors in the US, TA Realty has acquired, invested in or managed more than $22 billion of real estate on behalf of both institutional and non-institutional investors since its founding in 1982. Currently it manages four 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 across 35 US markets.

For the Rock Group, the TA Realty acquisition will bring “an experienced management team with more than 20 partners averaging more than a decade with the firm,” says Atsushi Nakajima, president and CEO of the Rock Group. “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.”

Michael Ruane, TA Realty's founder and managing partner, similarly sees synergy between the two businesses. He adds, “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.”