CBRE to buy Telford Homes for €297m

CBRE Group has announced that it intends to acquire all the issued and to-be-issued shares of Telford Homes for €297 million ($335 million).

Upon completion of the acquisition, which is expected in third quarter 2019, Telford will operate as part of Trammell Crow Co., and its financial results will be reported within CBRE’s real estate investments business segment.

“Telford gives us a compelling opportunity to build on the success of Trammell Crow Company,” said Bob Sulentic, president and CEO of CBRE. “The United Kingdom is in the early stages of a secular shift toward institutionally owned urban rental housing, similar to what we have seen in the U.S. over the last two decades. Telford is well-positioned to lead this trend, and their more than 300 talented professionals operating in London are a great addition to our company.”

The transaction is subject to customary regulatory approvals. It also requires approval by a majority of Telford shareholde