CB Richard Ellis Group Inc. has inked a deal to acquire Trammell Crow Co. in a deal the company valued at about $2.2 billion. The purchase price includes the assumption of Trammell Crow’s corporate debt and transaction and integration costs. When completed the acquisition is expected to result in a combined company with revenues of $4.4 billion and 21,000 employees. It will add property management, development and investment services to CB’s transactional brokerage business. Plans are to operate Trammell Crow as a wholly owned, independently operated subsidiary. Robert E. Sulentic, chairman and CEO of Trammell Crow, will join CB as group president responsible for development and investment and Asia Pacific operations. CB, based in Dallas, is the largest commercial real estate services firm internationally and it ranked No. 2 among brokerage firms in the greater San Fernando Valley in the Business Journal’s 2006 list of commercial real estate brokerages. Trammell Crow is also based in Dallas.
