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CBRE completes acquisition of British residential developer Telford Homes

Commercial real estate and investment firm CBRE Group Inc. closed its purchase of London-based multifamily residential properties developer Telford Homes PLC.

Telford Homes will operate as part of Trammell Crow Co., the wholly owned real estate development subsidiary of CBRE. The add-on acquisition will enable U.S.-focused Trammell Crow to enter the U.K. market.

Telford CEO Jon Di-Stefano will continue to lead the company, which focuses on build-to-rent properties in the middle market.