"We are excited about the opportunity for the firm to take a more active role in the real estate markets," says Bob Hotz, senior managing director and co-chairman of Houlihan Lokey, in a statement. "Where previously we were limited to traditional finance and advisory services, we have the expanded capability to deal directly with buying, selling and financing real estate assets."

Jonathan Geanakos has been brought on to co-head the group with Houlihan Lokey banker John Schoenfeld. Additionally, senior vice president Stephen Pearlman, vice president Frank Muhlon and associate Nicholas Harris, all formerly of TCC, have joined the group.

"Over the years we have worked with public and private real estate and real estate-related operating companies on both the company and asset levels," Schoenfeld says. "With the addition of Jonathan and his team, our clients in the real estate, lodging and leisure space will have access to a broader array of services and deal flow."

During their time at TCC, the team served as advisors to institutional and corporate real estate clients in order to structure and execute sales, financing and sale-leasebacks. They also helped clients pinpoint portfolio and asset level investment objectives, such as acquisition and repositioning tactics.

"Houlihan Lokey's reputation as a leading middle market investment bank provides our team the perfect platform to develop real estate opportunities for the firm's current clients, as well as offer our existing contacts access to the firm's full range of capabilities and unique investment opportunities," Geanakos says. "We are pleased to be chosen to lead this expansion."

Geanakos brings 22 years of real estate experience to Houlihan Lokey, having had positions at Transwestern and AEW Capital Management prior to TCC. Pearlman, also brings more than 20 years of experience, having held positions at HIGroup LLC, Jones Lang Wootton and Manufacturers Trust Co.

Muhlon was previously employed at the Greenwich Group Internationals, Silverstein Properties and Picus Associates. Harris most recently was a senior financial analyst for TCC's Philadelphia office.