American real estate group CBRE has completed the takeover of UK developer Telford Homes.

Telford Homes, which is focused on middle-market, build-to-rent properties, will operate as part of Trammell Crow Company, CBRE's wholly owned real estate development subsidiary. The acquisition expands Trammell Crow Company's successful US development business into the UK market.

-- Advertisement --

"We are excited about the opportunities that Telford Homes affords us," said Bob Sulentic, president and chief executive officer of CBRE. "The UK is in the early stages of a secular shift toward institutionally owned urban rental housing and Telford Homes' talented team positions us to lead this trend."

Jon Di-Stefano, chief executive officer of Telford Homes, will continue to lead the business.

(CM)