Hunt acquires $1.2bn Tuckerman platform

The Chicago-based real estate investment advisor has acquired State Street’s multifamily fund platform, which includes its 7,100 apartment units and 11 staff members.

Hunt Investment Management, a subsidiary of the Hunt Companies, has purchased multifamily specialist The Tuckerman Group and its multifamily real estate advisory contracts. Although terms of the deal were not disclosed, Tuckerman has $1.2 billion in assets under management and 7,100 apartment units. 

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’s portfolio includes value-added and development apartment funds, a core-plus separate account and an affordable housing mortgage fund. In addition, Tuckerman’s 11-member team, which includes six managers and five additional staff, will join the Chicago-based firm.

Chris Hunt, chief investment officer at the Hunt Companies, 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 US.”

The Tuckerman Group originally was formed in 1998 as a joint venture between State Street Global Advisors and the firm’s senior management. It offers a full range of real estate investment advisory services, including value-added and opportunistic private equity product offerings. Currently, Tuckerman Multifamily Fund V is seeking $200 million in commitments to invest in multifamily assets across the US, according to PERE Connect. 
Hunt Investment Management is an SEC-registered investment advisor with $4.3 billion in assets under management. It manages funds and separate accounts across all real estate sectors in the US and Europe.