Regions West | Los Angeles
Trammell Crow Promotes Two, Hires One
April 29, 2008

Trammell Crow Co. has promoted Richard Fletcher to managing director and chief acquisitions officer and hired David Bass as senior vice president-asset management in the firm’s acquisition funds group in Dallas. In addition, Harry Lake has been promoted to senior vice president-acquisitions with the firm’s Los Angeles office.

In his new role, Fletcher will coordinate the acquisitions efforts for the entire private equity funds group in addition to his Central region deal sourcing focus on value-added and opportunistic real estate projects and investments for the firm’s institutionally capitalized private equity funds.  Fletcher joined the firm in 2003, and in the last year alone, has closed seven deals with an aggregate purchase price of over $134 million.  

Joining the compny as senior vice president-asset management, Bass is responsible for the asset management and leasing efforts on Fund assets. Prior to joining Trammell Crow, he was an associate partner and senior asset manager with Invesco Real Estate in Dallas.  

As SVP, Lake is responsible for the firm’s acquisitions business unit for the Pacific Southwest region, focusing on the acquisition of value-added and opportunistic real estate opportunities for the company’s institutionally sponsored private equity funds. Lake joined Trammell Crow in 2003, and in the last year he has closed deals totaling more than $70 million.

 
Recent Los Angeles Headlines
New Studio to Be Built Near Hollywood
The United States' largest independent movie studio, a $125 million facility, is slated to break ground in April, 2009, with a projected 18-month construction period, Commonwealth Studios has announced.
Pair of SoCal Hotels Trade for $80M
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
NorthMarq Arranges $49M Mortgage for Point Niguel
Michael Elmore of NorthMarq Capital, Inc.’s Los Angeles Regional office, arranged first mortgage financing of $49 million for Point Niguel, a 324-unit multi-family complex, located in Laguna Niguel, Calif.
William Morris HQ $188M Financing Deal Paves Way for New William Morris HQ in Beverly Hills
A joint venture involving New York City-based George Comfort & Sons Inc. and Morgan Stanley Real Estate's Prime Property Fund, have secured $188 million in refinancing for an existing office structure and construction funding for the development of a new office and retail building in Beverly Hills.
Meruelo Maddux Battles Financial Woes
Ahead of releasing its first quarter 2008 financial results after the market closes tomorrow, Downtown Los Angeles landlord Meruelo Maddux Properties Inc. has been taking steps to battle debt woes and a depressed stock price.