Global real estate manager Heitman has bought back a 50% stake in the company for $110m.
The acquisition of the 50% owned by OM Asset Management was made by senior members of the company and gives them 100% ownership.
Founded in 1966, Heitman has about $39bn in assets under management, with operations across North America, Europe, and Asia-Pacific. The firm is headquartered in Chicago.
Its real estate investment strategies include direct investments in the equity or debt capitalisation of a property or in the securities of listed and publicly traded real estate companies.
Heitman chief executive Maury Tognarelli said: “The acquisition of OMAM’s interest in Heitman represents another significant milestone for the firm in our ongoing mission to be one of the leading real estate investment management firms.
“The consolidation of the firm’s ownership is indicative of the confidence we have in ourselves and further aligns our interests with those of our clients.”
At present, 40 senior professionals from Heitman’s business and support operations share in the ownership.
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