Untrammeled by convention, with an unbridled passion for real estate development and acquisition, Trammell Crow has cast a wide net over commercial real estate in the US and Canada. A subsidiary of real estate services giant CBRE, Trammell Crow's portfolio covers more than 15 major cities and includes some 540 million sq. ft. valued at about $60 billion. The firm serves developers, tenants, and investors in office, industrial, retail, mixed-use, airport, multifamily residential, and health care facilities. Trammell Crow offers development services to its clients who occupy buildings, and investment funding and joint-venture opportunities to its real estate investment clients.
The development company boasts more than $4.6 billion worth of projects in process and has $1.9 billion in its pipeline. In line with its real estate development activities, Trammell Crow runs wholly owned subsidiary Environmental Asset Services, Inc., which offers clients environmental expertise in relation to the development, ownership, and management of commercial real estate. The company boasts more than 5 million sq. ft. of LEED Certified space nationwide.
Its residential development business, High Street Residential, concentrates on breathing new life into old neighborhoods or creating new urban neighborhoods. Its expertise lies in leveraging its master plan/master developer services and residential development experience to orchestrate the marriage of office, retail, housing, and civic venues.
Trammell Crow operates its business nationwide with offices located in more than 15 major cities.
Operating as its parent's Development Services division, Trammel Crow saw a 32% drop in revenue for 2013 due to lower rental income since it sold some properties.
Trammell Crow's connection to CBRE increases its access to big deals. Since being acquired, Trammell Crow has inked joint ventures with several major partners. It is developing around $1 billion in office and industrial properties with Clarion Partners, ING Group's former real estate investment unit. It has also developed a series of shopping centers in the Southwest and the Northeast with MetLife. Increasing revenue from large clients is part of parent CBRE's growth strategy.
The company manages more than $550 million in healthcare development projects for clients such as hospitals, healthcare management organizations, and others nationwide.
Trammell Crow's investment funds closed more than two dozen transactions in recent years at an asset value of more than $414 million with initial equity investments of some $126 million and future equity requirements of more than $31 million. Trammell Crow projects include leasing high-profile office buildings in its core markets of Dallas, Houston, and Denver, as well as specialty projects such as decommissioning a water treatment plant and developing a student housing facility. It has also been moving into industrial projects as the economic recovery continues.