CBRE Group, Inc. (NYSE:CBRE) today announced leadership changes within its Real Estate Investments business segment and Trammell Crow Company subsidiary.
Mike Lafitte, Global Chief Executive Officer (CEO) of Real Estate Investments, will assume additional responsibilities as CEO of Trammell Crow Company, CBRE’s real estate development subsidiary.
Matt Khourie, Trammell Crow Company’s current CEO, will move into a newly created position – Chief Investment Officer (CIO) of Real Estate Investments, reporting to Mr. Lafitte. In this role, Mr. Khourie will focus on allocating CBRE’s equity capital into direct real estate investments and funds as well as Real Estate Investments-related initiatives. Mr. Lafitte and Mr. Khourie will assume their new duties on January 1, 2021.
Additionally, Mr. Khourie will assume the duties of CIO of Trammell Crow Company on April 1, 2021, when the company’s current CIO, Craig Cheney, will retire.
Adam Weers will be promoted to Chief Operating Officer (COO) of Trammell Crow Company on April 1, 2021, when the company’s current COO, Mike Duffy, will retire. Mr. Weers has been a Principal in Trammell Crow Company’s Washington, DC office for nine years, and has led key development projects. In his new role, he will administer Trammell Crow Company’s investment approval and Executive Committee processes, and oversee its Marketing, Communications, People, Legal/Risk Management and Digital & Technology. He will report to Mr. Lafitte.
Mr. Lafitte said: “Matt is a seasoned investor and I look forward to his partnership in identifying and acting on opportunities to deploy CBRE’s capital as a principal in real estate. Adam has been a valued member of the Trammell Crow Company for more than 15 years, and our national leadership team will benefit significantly from his organizational skills and other talents. Craig and Mike have been exemplary members of our leadership team for decades and we wish them all the best as they enter a new phase of their lives.”
This month, Trammell Crow Company was ranked the number one commercial development firm in the U.S. by Commercial Property Executive for the seventh consecutive year.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue).
