Trammell Crow Company (TCC) has expanded its UK operations by acquiring London-based office developer Candour.
Candour’s founders Toby Pentecost and Dan Rees will join TCC as senior vice presidents and co-heads of UK offices. They will help to oversee TCC’s delivery of approximately 850,000 sq ft of Grade A office space under construction or in the pipeline at schemes like the Welcome Building in Bristol and 39 Deansgate in Manchester.
David Neuman, president, Europe, at Trammell Crow Company, said: “UK office sector fundamentals remain attractive, particularly for well-conceived, newly developed, ESG-focused properties. With Dan and Toby leading our efforts, we are well positioned to make an immediate impact in the sector. The team’s entrepreneurial spirit and focus on developing best-in-class, ESG-focused projects and maximising outcomes for all stakeholders is aligned with our firm’s philosophy.”
Pentecost added: “We are excited to be accelerating our growth and expansion with TCC. Together we will have the capacity to create even more prime, sustainable developments that inspire the world of work and that will allow us to continue to serve our occupiers and capital partners and provide positive returns for all our stakeholders. The opportunity to help lead the largest US developer’s expansion into the European offices marketplace for the first time is a tremendous endorsement of what we have created with Candour.”
Rees said: “We are proud of the exceptional properties and results we have achieved on this incredible journey since Toby and I founded Candour in 2019. Becoming part of TCC’s European growth story at this opportunistic time in the market is an exciting way to begin the next chapter as we continue our upward trajectory. We are hugely grateful to our capital partners for their continued support along the way.
TCC, which is owned by CBRE, acquired Telford Homes in 2019 and launched a UK and European industrial and logistics development arm in 2021.
