Trammell Crow (TCC) took a 30% stake in Indian property services outfit Chesterton Meghraj.
Terms weren't disclosed, but Dallas-based Trammell Crow said the Indian company will operate as a joint venture under the name Trammell Crow Meghraj. It will provide real estate services in India, Pakistan, Nepal, Bangladesh and Sri Lanka, and will have access to Trammell Crow's "technology, playbooks, best practices and subject matter experts," Trammell Crow said.
Trammell Crow Meghraj will manage 26 million square feet of real estate in India. It was the first property consultancy company in India to secure ISO 9001:2000 certification for its offices and services, Trammell Crow said.
"Some of our best and deepest client relationships in outsourcing and brokerage have facilities and growth plans for India," said Trammell Crow chief Bob Sulentic. "We expect Trammell Crow Meghraj to be an integral part of the service delivery model for these customers."
On Tuesday, Trammell Crow rose a penny to $25.42.