"I am delighted with the benefits that our combined team will provide to our clients," said founder and president of Krombach Partners, Inc., Peter B. Krombach. "This is a very positive step for both companies and the markets we serve. With our joint company resources, corresponding vision, and exceptional team of professionals, our customers will benefit from a full range of client services."
Krombach Partners, Inc. has 33 employees, including 22 real estate brokers.
Michael J. Lafitte, president of Trammell Crow Company's Global Services Group, said, "This combination fits nicely into Trammell Crow Company's North American brokerage strategy, which is to expand our service capabilities as well as be a leading provider of integrated real estate services."
Financial terms of the agreement were not disclosed.
About Krombach Partners
Krombach Partners is a prominent leader in St. Louis' commercial real estate industry . The company has been in business for over 25 years and its seasoned group of professionals has an average of 13 years with the firm.
Krombach Partners' complete line of transaction services includes consulting services for office, industrial, retail, investment, land and multi-family properties. The St. Louis office consists of transaction consultants, financial analysts, researchers and marketing professionals. Enhanced research and technology combined with immediate access to markets around the world allows the company to act responsively in the ever-changing real estate environment.
With a client-driven approach, Krombach Partners examines how current real estate trends coincide with a company's business plan by determining what to allocate for real estate costs, what submarkets will enjoy the most growth, and which areas show the strongest demographic trends.
Krombach Partners' transaction, research and marketing professionals survey the market everyday, maintaining an internal database of over 52 million square feet of office space and 202 million square feet of industrial space in the St. Louis Metropolitan area. Quarterly analysis and year-end forecast reports are done for both the overall market and for all eleven St. Louis submarkets.
Krombach Partners' professionals are consistently among the top producers in the industry. In addition to achieving top sales and leasing volumes, they are consistently recognized by their peers and clients for demonstrating superior technical skills, enhanced client service, and actively participating in continuing education programs.
About Trammell Crow Company
Founded in 1948, Trammell Crow Company is one of the largest diversified commercial real estate services companies in the world. The company provides building management, brokerage, project management, and development and investment services to both investors in and users of commercial real estate. 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. The company delivers building management, brokerage, and project management services in Southeast Asia through Trammell Crow Meghraj, India's leading property services company jointly owned by the company and certain international partners. Trammell Crow Company is traded on the New York Stock Exchange under the ticker symbol "TCC" and is located on the Internet at www.trammellcrow.com
Certain statements contained in this press release, including without limitation statements containing the word "expected," "will", and words of similar import, are forward-looking statements within the meaning of the United States federal securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other matters which may cause the actual results, performance or achievements of Trammell Crow Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Trammell Crow Company disclaims any obligation to update any such statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein to reflect any change in the company's expectation with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements.