CHICAGO, IL – (January 14, 2013) -- Hunt Investment Management, a subsidiary of Hunt Companies, Inc., announced today the acquisition of advisory contracts in multifamily real estate portfolios, comprising $1.2 billion in assets under management and 7,100 apartment units, from The Tuckerman Group LLC, a joint venture of State Street Global Advisors and the firm’s senior management. The acquisition expands Hunt’s investment management platform, which now serves 72 institutional clients invested in multifamily and commercial real estate as well as energy and infrastructure related investments. Tuckerman portfolios include value-add and development apartment funds, a core-plus separate account, and an affordable housing mortgage fund.
As part of the transaction, Tuckerman’s six-member management team as well as five additional staff members have joined Hunt Investment Management.
Ryan Luxon, Hunt Companies’ Executive Vice President-Real Estate Investments, and President of Hunt Investment Management, said “the portfolios we have acquired are very complementary to Hunt’s existing platform where we have specialized in developing, investing in and managing more than 150,000 apartment and housing units across the U.S. Given strong demand in the multifamily sector, we plan to expand our activities in providing our investors more opportunities in apartment development in favorable markets with solid growth trends.”
Douglas A. Tibbetts, Hunt Investment Management’s Chief Executive Officer, added: “By bringing over the existing Tuckerman portfolio management group we expect to ensure continuity and stability in the service provided to our new clients, while supporting them with Hunt’s substantial residential sector expertise and significant capital underpinnings.”
Glen Weisberg, The Tuckerman Group’s CEO said: “Hunt Investment Management offers existing Tuckerman clients the ability to continue to invest in comparable real estate strategies through private equity real estate funds and accounts with a trusted and proven team, highly experienced in multifamily investments.”
The Tuckerman Group, LLC was originally formed in 1998 and provided a full range of real estate investment advisory services including value-added and opportunistic private equity product offerings.
ABOUT HUNT
Hunt Companies, Inc. is a real estate company dedicated to building values through development, investment, and management. Hunt is focused in the core areas of public private partnership, military housing, community development, real asset investment management and multifamily housing.
Founded in 1947, Hunt has over 1,100 employees in regional offices throughout North America and Europe. Together, Hunt and its affiliates have more than $13 billion in assets under management, including 151,683 multi-family housing units and 8.3 million square feet of office, retail and industrial properties. Hunt has also developed 89,000 housing units, over 1 million square feet of commercial space and thousands of acres of land. Development project costs have totaled more than $6.3 billion with more than $8.2 billion in construction costs.
Hunt Investment Management, an SEC-registered investment advisor based in Chicago, has $4.3 billion of assets under management and manages funds and separate accounts across all real estate sectors in the U.S. and Europe.
Visit www.huntcompanies.com to learn more about Hunt, its heritage and commitment to values that build.
