Bank One Goes Shopping For Real Estate Money Manager

September 17, 2003 ( - Bank One has agreed to acquire a Chicago money manager specializing in real estate investments for institutional clients

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.