8 Major DC Real Estate Firms Led By Trammell Crow Alums
Trammell Crow was an iconic Dallas real estate tycoon whose eponymous company has left a lasting legacy of preparing its employees to launch out on their own. Some started their own businesses, while others, like JLL CEO for the Americas Greg O’Brien and CBRE Services global president Mike LaFitte, have taken on leadership roles for some of the world’s largest firms. Here are some of the DC firms whose leadership is dotted with TCC alumni.
TCC Alumni: Timothy Naughton, CEO (right, snapped in 2013); Leo Horey, chief administrative officer
Position with Trammell Crow: Tim was a development partner at Trammell Crow Residential from 1989 to 1993, while Leo was a regional manager at TCR in the early '90s.
New company’s projects: AvalonBay is one of the largest residential developers in the country. In the first half of 2015, the company finished three projects—in Boston, New Jersey and San Francisco—for a total of 874 units and $275M. It also just began construction on AVA NoMa, a 436-unit apartment building attached to its current Avalon First and M.
TCC Alumni: Vicki Davis (second from left), president of development, who will be a speaker at our upcoming Future of Prince George's County event; Lois Fried, COO
Position with Trammell Crow: Both were partners with TCR. In between, Vicki was the deputy director of the Maryland Housing Fund. Lois was CFO of the Montgomery County Housing Opportunities Commission.
New company’s projects: Most notably, Urban Atlantic is part of a JV with Hines as master developers of the Walter Reed Army Hospital site. They also built Rhode Island Row, with 274 units of mixed-income housing and retail next to the Rhode Island Ave Metro station, which has been a catalyst for redevelopment in that sector of Northeast.
TCC Alumni: Three of the four founding partners are former TCC guys; Bob Murphy (snapped last month), Ryan Wade and Fred Rothmeijer. The fourth, Rick Saas, was a TCC outside counsel.
Position with Trammell Crow: Bob was president of TCC Mid-Atlantic, Ryan was in asset procurement and capitalization, and Fred was a principal for development in DC and NoVa.
New company’s projects: MRP is developing 965 Florida Ave with JBG, 1,550 units near the Rhode Island Ave Metro, Dock 79 on the Capitol Riverfront, 125 units on H Street, and the 400-unit Elevation at Washington Gateway in NoMa got almost fully leased within nine months.
TCC Alumni: Joe Stettinius, CEO of Americas
Position with Trammell Crow: Area director for TCC’s Mid-Atlantic services. He was president of Cassidy Turley before DTZ bought it last year.
New company’s projects: DTZ is one of the world’s largest developers and brokers, so it would be a fool’s errand to list. But it recently brokered Akridge’s $75M sale of 7550 Wisconsin and the $180M sale of Rosslyn Metro Center to American Real Estate Partners.
Mill Creek Residential
TCC Alumni: Basically everyone. The company is based in Dallas and was spun off of Trammell Crow Residential in 2010. In the Rockville office, CIO Bill MacDonald, CFO Sherry Brown, executive managing directors Chip Bay and Ashvani Churchra, and senior managing director Sean Caldwell are all former Trammell Crow folks. Above is Sean (third from right), with his team.
New company’s projects: In the first half of 2015, MCR was the second-most-prolific apartment developer in the country. In DC, it's currently working on the View at Waterfront and Italian Embassy, which we covered here.
Oxford Properties Group
TCC Alumni: Chris Mundy, EVP in charge of expanding the Canadian real estate group’s footprint in DC
Position with Trammell Crow: Principal in the late ‘80s and early ‘90s
New company’s projects: Oxford bought a 50% share in 1001 G St NW earlier this year, the latest in its string of new forays into DC, which include a JV with Gould at 900 New York Ave and 600 Massachusetts Ave. Since 2012, Chris has led Oxford’s $1.3B worth of investment into DC.
TCC Alumni: Robert Stuckey, managing director and head of US real estate
Position with Trammell Crow: CFO for six years before leaving for CarrAmerica as chief investment officer. Rob told Bisnow his “experiences working with Bob Sulentic and Jim Groche were invaluable.” Sulentic is now CEO of CBRE Group and Groche is the CFO.
New company’s projects: Carlyle doesn’t develop, but Robert does oversee billions of dollars of real estate investments all over the country, including Carlyle’s Edward Andrews Homes.
TCC Alumni: Kevin Dougherty, founder and managing partner
Position with Trammell Crow: Partner at TCC Washington, DC
New company’s projects: Crimson opened The Maxwell apartments in Ballston recently, and is working on the 63-acre master planned Dulles Station (above). When completed, it will be adjacent to the Herndon Metro stop on the Silver Line and have more than 2M SF of residential, office, hotel and retail space, plus a park.