According to a news release, Bank One’s deal for Security Capital Research & Management to be acquired from GE Real Estate is expected to close by year-end 2003. Terms were not disclosed.
Bank One said Security Capital will become a subsidiary of Banc One Investment Advisors, but will continue to operate as a distinct investment team.
According to the announcement, Security Capital provides clients with a range of investment products principally through separate accounts, mutual funds and a private real estate investment company focused on convertible preferred private equity placements. Security Capital manages approximately $3.5 billion in real estate investments.
Banc One Investment Advisors has more than $170 billion in assets under management in institutional and individual accounts.
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