TCC, PREI Partner On $1B Commercial Development Venture

Law360, New York (January 23, 2012, 4:25 PM EST) -- Trammell Crow Co., a subsidiary of commercial real estate giant CBRE Group Inc., and management firm Principal Real Estate Investors on Monday announced a new $1 billion joint venture to develop several office and industrial parks across the U.S.

Texas-based TCC will provide all development services, while Iowa-based PREI will supply the majority of the capital for projects the companies plan to develop in improving real estate markets, TCC Chief Operating Officer Michael S. Duffy told Law360 on Monday.

“As the economic recovery in the U.S....
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