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Jim Darcey

Managing Director, Ullico Investment Advisors


Jim joined Ullico in November of 2022 as a Managing Director charged with expanding the company’s product offerings to include vehicles for real estate equity investments designed to complement Ullico’s successful J for Jobs and Infrastructure Funds, each with AUM in excess of $4 billion. This new suite of real estate equity products will be client-need and market-opportunity driven.

Before joining Ullico, Jim served as Managing Director at ASB Real Estate Investments for 18 years, where he was most recently Portfolio Manager for the company’s Meridian Real Estate Fund series of value-add closed-end investment funds focused on acquiring undervalued assets in urban markets across the country. He oversaw a multi-disciplined team of marketing, legal, investment and asset management professionals in implementing the full life cycle of the valued-add Fund business, including fund formation, strategy formulation, capital raising, capital investment, asset management, asset sales and fund dissolution.

Prior to assuming this role in 2015, Jim served as head of ASB’s eastern region, responsible for sourcing, underwriting and closing office, industrial, residential and retail investment opportunities via the brokerage community, principals and potential and existing joint venture partners. He co-Managed ASB’s ten to eighteen member capital investment group. Jim has personally completed $3b in acquisitions, $1.5b in disposition and $700mm in financings during his career.

While at ASB Jim played key senior leadership role in growing the firm’s real estate investment management business and growing its Open-Ended Core Fund AUM from $150mm in 2005 to $7.2b today, while producing NCREIF-ODCE Index-leading returns. He was a member of ASB’s Management Committee and Investment Committee.

Prior to joining ASB in 2004, Jim was a Senior Vice President of Asset Management and Acquisitions at Lowe Enterprises Real Estate Group in Washington, DC, where he had primary responsibility for acquisition, asset and property management activities in the Eastern Region.

Jim holds a BS in Business Administration with a concentration in Accounting from the University of San Diego and an MBA with a concentration in real estate finance from the University of Southern California.