Telford Homes, which is focused on middle-market, build-to-rent properties, will operate as part of Trammell Crow Company, CBRE鈥檚 real estate development subsidiary. The acquisition expands Trammell Crow Company鈥檚 US development business into the UK market.
鈥淲e are excited about the opportunities that Telford Homes affords us,鈥� said Bob Sulentic, president and chief executive of CBRE. 鈥淭he UK is in the early stages of a secular shift toward institutionally-owned urban rental housing and Telford Homes鈥� talented team positions us to lead this trend.鈥�
Jon Di-Stefano, who will remain chief executive of Telford Homes, said: 鈥淭he alignment of our business models, people and culture 鈥� along with our shared commitment to partners, clients and local communities 鈥� makes this a natural fit. We now have enhanced capabilities to raise capital, acquire the best sites and deliver high-quality properties that meet rising demand for rental housing.鈥�
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