Trammell Crow Company Purchases 30 Percent of Chesterton Meghraj; Transaction Enhances TCC's Service Delivery Capability in Indian Markets.DALLAS -- Trammell Crow F. Trammell Crow (born June 11, 1914, in Dallas, Texas) is an American property developer who created several famous projects, including Dallas Market Center, Peachtree Center (Atlanta, Georgia), and San Francisco's Embarcadero Center. Company (NYSE NYSE See: New York Stock Exchange :TCC TCC The Car Connection (web site) TCC Tidewater Community College TCC Tallahassee Community College TCC Temporary Continuation of Coverage TCC Tucson Convention Center (Tucson, AZ, USA) ), one of the largest diversified commercial real estate services companies in the world, announced it has purchased a 30 percent interest in and established a strategic alliance with Chesterton Meghraj Property Consultants Pvt Ltd (CMPC CMPC Classified Matter Protection and Control CMPC Compañia Manufacturera de Papeles y Cartones S.A. CMPC Cisco Multi-Path Channel CMPC Children's Media Policy Coalition CMPC Central Milk Producers Cooperative CMPC Connecticut Minority Purchasing Council ), India's leading property services company. TCC's interest was purchased from Meghraj Properties Limited. Effective immediately, CMPC will operate under the name Trammell Crow Meghraj. With this investment and strategic alliance, Trammell Crow Company has expanded its service delivery capabilities in Indian markets to support its U.S.-based clients. Following the investment by Trammell Crow Company, Trammell Crow Meghraj will be owned jointly by Trammell Crow Company, Meghraj Properties Ltd. and Sundown Developments Ltd. Trammell Crow Meghraj, a full service property consultancy specializing in research, consultancy, agency, project management and property/facilities management services for all asset types, employs over 475 people across seven offices throughout India. Trammell Crow Meghraj manages 26 million square feet in India. Its client base spans corporations, institutions and governmental organizations, as well as foreign and Indian retailers, and includes such companies as British Airways, Cadbury, Dell, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Reliance, EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , John Deere, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , McDonald's, and Pizza Hut. The company was the first property consultancy company in India to secure ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 certification for its offices and services. Financial terms of the agreement were not disclosed. Trammell Crow Meghraj (TCM (1) (Trellis-Coded Modulation/Viterbi Decoding) A technique that adds forward error correction to a modulation scheme by adding an additional bit to each baud. TCM is used with QAM modulation, for example. ) will provide real estate services in India, Pakistan, Nepal, Bangladesh and Sri Lanka. TCM will be integrated into Trammell Crow Company's global operating platform, with access to technology, playbooks, best practices and subject matter experts. Trammell Crow Company also will acquire a separate 30 percent interest in Workplace Management Consultants Pvt Ltd (WPM wpm abbr. words per minute wpm words per minute Noun 1. wpm - the rate at which words are produced (as in speaking or typing) words per minute ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CMPC that provides asset management services. TCC's effective ownership interest in WPM will be 51 percent. WPM manages over 18 million square feet of prime real estate in India, including call centers, corporate offices, malls, residential complexes, research and design centers, and hospitals. Bob Sulentic, Trammell Crow Company's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "Some of our best and deepest client relationships in outsourcing and brokerage have facilities and growth plans for India. We expect Trammell Crow Meghraj to be an integral part of the service delivery model for these customers." In addition, Trammell Crow Company's strategic alliances with Savills plc, a leading property services company in Europe and Asia, and JJ Barnicke, a leading Canadian real estate services provider, offer an industry-leading service delivery model for meeting the needs of investors and corporate users on a global basis. Alex Darragh, Managing Director of Trammell Crow Company's international operations, added, "Trammell Crow Meghraj is positioned to respond favorably to the current growth picture in Indian real estate markets." He cited the improving economic conditions that support growth of the middle class; global economic trends that encourage relocation of manufacturing, service and administrative functions to low wage countries; and the relaxation of foreign direct investment rules for real estate and infrastructure investments. Anuj Puri, Managing Director of CMPC, said, "Chesterton Meghraj began operations in India ten years ago and we have seen opportunities in the Indian real estate sector grow multifold mul·ti·fold adj. Numerous and varied; manifold. . Our strategic alliance with TCC will allow U.S. corporations, who are the largest overseas investors in India, an integrated real estate solutions platform that services their local requirements in India." Rohin Shah, Managing Director of Meghraj Properties added, "The powerful combination of Trammell Crow Company and their alliance partners globally with Trammell Crow Meghraj locally will allow our successful business to grow by adding best U.S. practices to the high standards we have in India. Having concentrated on developing our local profile over the past ten years, our strategic alliance with Trammell Crow Company will widen our reach to the rest of the world's organizations that wish to come to India." About Trammell Crow Company Founded in 1948, Trammell Crow Company is one of the largest diversified commercial real estate services companies in the world. Through its Global Services Group, the company provides building management, brokerage and project management services to both investors in and users of commercial real estate. Development and investment services are provided through the company's Development and Investment Group. In addition to its full service offices located throughout the United States, the company has offices in Canada, Europe, Asia and Latin/South America focused on the delivery of real estate services to corporate customers. The company delivers brokerage services outside the United States through strategic alliances with leading providers -- in Europe and Asia, through Savills, plc, a leading property services company based in the United Kingdom; and in Canada, through JJ Barnicke, a leading Canadian real estate services provider. Trammell Crow Company is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "TCC" and is located on the Internet at www.trammellcrow.com About Trammell Crow Meghraj Trammell Crow Meghraj is India's leading international property consultant. Established in 1995, the company brought together the property expertise of the Chesterton International and the financial asset management experience of Meghraj. Trammell Crow Meghraj is a real estate consulting practise covering the needs of commercial business, manufacturing and warehousing, the retail sector and housing. With its seven full service offices in cities of Delhi, Mumbai, Bangalore, Kolkata, Chennai, Hyderabad and Pune, which is the widest spread of offices amongst any property consultant in India, Trammell Crow Meghraj has an experience of working in all major Indian cities as well as remote locations. This experience is not only in the field of consulting but also in agency, project and property/facilities management. This has made the company rich in experience and familiar with all major land laws in India. It is the first property consultancy in India to have acquired the ISO 9001:2000 certification. www.chestertonmeghraj.com About Meghraj Properties Limited Meghraj Properties Limited was formed in 1973 to act as a private real estate fund manager for high net worth clients of Meghraj Group. Today it has under management about GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 billion of assets in the UK allocated across sectors such as distribution warehouses, budget hotels, supermarkets, pubs and restaurants. Its client base remains little changed from those that the founder of Meghraj, MP Shah, serviced in the 1940's and 1950's. The family originated from Gujarat in North West India and migrated via Kenya to England in 1957. The group today offers real estate fund management in the UK, offshore trust and company management in Jersey, Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. and Mauritius and real estate consultancy, fund management and financial services in India. www.meghraj.com |
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