Last week, Dallas-based Mill Creek Residential Trust closed its first vertical development financing deal. And earlier this week, the Trammell Crow spinoff paved the way for a lot more future deals via a new joint venture partnership with White Plains, N.Y.-based Rockwood Capital and Crow Holdings. Mill Creek CEO Charlie Brindell chatted with Multifamily Executive senior editor Les Shaver about the company's outlook for the year. More
As venerable builder Trammell Crow Residential (TCR) hunkered down through one of the worst recessions the apartment development industry has ever seen, CEO Charlie Brindell outlined a plan last winter to revive and refocus the company, which had seen it starts dip from 27,167 multifamily units in the 2006 to 2008 timeframe to zero in 2009. It now looks like TCR's leadership has decided the best plan is to pull the Trammell Crow name out of development altogether. More