Commenting on the deal, GE Capital Real Estate president Michael Pralle says that, "This transaction makes strategic sense for both our organizations. It allows GE Capital Real Estate to focus on our core global investing, lending and services business. GECIA pension fund customers will also benefit from wider service offerings targeted towards this market sector."

Also part of the transaction, Jill S. Hatton, GECIA's president and chief executive officer, has been named a managing director of SSR Realty Advisors with responsibility for handling the firm's Core Separate Accounts business. She will be in charge of SSR Realty's new Boston office.

"There is a great deal of synergy between GECIA and SSR Realty," she says. "While we bring our leadership in core separate accounts to SSR Realty, GECIA will benefit from SSR Realty's apartment and commingled fund expertise, as well as its considerable in-house research and technology capabilities. Being part of a larger organization with a full range of services will create significant opportunities for the employees of both firms."

The company, which now employs 175 workers, provides real estate investment management services to approximately 100 institutional investors. In addition to its White Plains and Boston offices, the firm also has operations in San Francisco.

SSR Realty's Lydon notes that the company will spend much of this year integrating the former GE Capital Investment Advisors' operations into its existing business. However, he would not rule out another acquisition this year if the right opportunity presented itself.