Wednesday, December 02, 2009

Behringer Harvard, UrbanAmerica team up on new venture

Dallas-based Behringer Harvard said Tuesday that it has teamed up with UrbanAmerica of New York to offer real estate services to institutional investors.

The new UrbanAmerica Advisors LLC will provide asset management, acquisitions, dispositions and capital market services to commercial real estate investors, including pension funds and other institutional owners.

Richmond S. McCoy, who co-founded UrbanAmerica in 1998, will direct the new partnership.

The venture with Behringer Harvard “will help us accommodate growth more rapidly and enable us to pursue larger advisory assignments in new arenas of the real estate industry,” McCoy said.

UrbanAmerica is a minority-owned investment adviser that specializes in urban real estate investment. The company has raised and invested more than $500 million in equity over the last eight years.

Behringer Harvard oversees more than $10 billion in assets for individual and institutional investors.

The two companies together employ about 400.
Steve Brown/Dallas Morning News