Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Thursday, November 02, 2006

CBRE to Buy Trammell Crow in $2.2B

DealCB Richard Ellis Group, Inc. has agreed to acquire Trammell Crow Co. in a deal valuing the Dallas firm at about $2.2 billion, including assumed debt.

The acquisition would give CB some $4.4 billion of annualized revenue, which CB said would make it the first commercial real estate services company to qualify for the Fortune 500 list of the largest U.S. corporations.

The acquisition is slated to be completed by the end of 2006, or early 2007. CB said it would retain the Trammell Crow Co. brand and that its development and investment operations would operate as independent units.


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