be bought by UBS Brinson, the asset management unit of the Swiss banking company UBS AG. Financial terms were not disclosed.

Allegis is to become a real estate unit of UBS Brinson and have $9.1 billion of real estate assets under management. It will be based in Hartford, Conn., and have offices in New York, Dallas, and San Francisco.

Chicago-based UBS Brinson previously had its realty unit's headquarters in New York.

Allegis president James W. O'Keefe is to become head of real estate for UBS Brinson and report to Gary Brinson, chief investment officer.

Allegis was established in 1996 by the Boston private equity firm TA Associates and eight former executives of Aetna Realty Investors, a unit of insurance giant Aetna Inc. It bought Aetna's real estate management business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.