TUESDAY, AUGUST 12, 2008

Trammell Crow reorganizes in Chicago

by Maureen Wilkey
Chicago

Shaun Frankfurt

Almost two years after it was acquired by CB Richard Ellis, Trammell Crow Co.'s Chicago office is re-emerging as a wholly owned subsidiary in the region. Shaun Frankfurt will head up the Chicago office as managing director.
"When the merger occurred, we were in the process of re-establishing the firm in Chicago," Frankfurt says. "We had to identify the team that was going to take over and they selected me to operate the office in this market."
Dallas-based Trammell Crow Co. is focused on building value for investors and tenants and has developed or acquired more than 500 million square feet of buildings with a value exceeding $50 billion. Recent projects for the company's Chicago office include health care facilities at Adventist Bolingbrook Hospital in Bolingbrook and McLaren Regional Medical Center in Clarkston, Michigan, student housing complexes at the University of Illinois at Urbana-Champaign in Urbana and the University of Bloomington in Bloomington, Indiana and a 685,000 square foot industrial facility in Joliet.
"We're a company that's focused on creating value for our investors," Frankfurt says. "With a process for our investors, we'll help them add value in whatever way we can."
Frankfurt has worked for TCC for 20 years, starting in Los Angeles in 1988 and moving to Oklahoma City in 1993. He relocated to Chicago in July. Joining him in leading the Chicago office with a focus on healthcare is Senior Vice President Tom Bessler, a 26-year TCC veteran who has worked in the Chicago office since 2002. Vice President Tim Lobner also moved from the Oklahoma City office to join the Chicago team.
The newly re-established team is also looking to grow in its Chicago niche. With a variety of projects from hospital campuses to student housing projects to airport developments, the team has a number of value-add real estate investments to work on.
"We're looking to grow in the future," Frankfurt says. "It's going to be very similar to how Trammell Crow previously was in Chicago."
While the development and investment practices of TCC will continue to grow, the real estate services divisions of the company will continue to be rolled into the CB Richard Ellis platform, Frankfurt says.

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