TCC acquires U.K. office developer in European expansion
CBRE announced the expansion of its Trammell Crow Company (TCC) real estate development business in the United Kingdom with the acquisition of Candour, a London-based office developer.
Candour’s founders, Toby Pentecost and Dan Rees, will join TCC as senior vice presidents and coheads of U.K. offices.
Candour’s approximately 850,000 square feet of Grade A commercial projects under construction or in the pipeline will be completed by TCC, including Welcome Building in Bristol, 39 Deansgate in Manchester city center and the strategic repositioning of two London office assets.
“U.K. office sector fundamentals remain attractive, particularly for well-conceived, newly developed, ESG-focused properties,” said David Neuman, president, Europe, at TCC. “With Dan and Toby leading our efforts, we are well positioned to make an immediate impact in the sector. The team’s entrepreneurial spirit and focus on developing best-in-class ESG-focused projects and maxim