DALLAS-In a ground breaking move, Hunt Power has spearheaded the creation of two REITs that will invest up to $2.1 billion in energy infrastructure and gas storage and delivery sectors in the US.

The two new REITs, Electric Infrastructure Alliance of America and Gas Infrastructure Alliance of America, are backed by Hunt Power, Tokyo-based Marubeni Corp., John Hancock Life Insurance (USA), TIAA-CREF and OPTrust Private Markets Group. They are the first REITs of their kind in the electricity and gas transmission and distribution sector and have been several years in the making, according to Kirk Baker, chairman and president of both REITs and senior vice president of Hunt Power.

Baker tells GlobeSt.com the REITs will develop and acquire electricity and gas transmission and distribution assets primarily in Texas, the Great Plains and the desert Southwest regions. Subsidiaries of Hunt Power will manage the REITs and will invest up to $322.5 million in cash and assets in the alliance, Marubeni will invest up to $500 million, John Hancock will invest up to $450 million, TIAA-CREF will invest up to $450 million, and OPTrust will invest up to $400 million.