State Street Corp. of Boston has opened a new real estate asset management and advisory unit.
Tuckerman Group is a unit of the banking company's investment arm, State Street Global Advisors. Donald E. Conover, who became director of real estate investment at State Street Global Advisors a year ago, leads the unit.
Tuckerman, announced last week, manages about $300 million of assets, half of which are drawn from the SSgA Real Estate Equity Fund. The unit manages commingled funds and separate accounts for institutional investors, and real estate investment trust funds for retirement plans and individual investors.
Tuckerman also provides advisory services on transactions to institutional and individual investors.
The 15-person unit is based in Purchase, N.Y., and has offices in Boston and Chicago.