DALLAS -- Trammell Crow Healthcare Services (TCHS), the health care business unit of Trammell Crow Company (NYSE:TCC), announced today it has entered into a national real estate services agreement with VHA Inc., a health care alliance that serves over 25 percent of the nation's not-for-profit health care organizations.
Trammell Crow Healthcare Services will provide solutions to complex real estate functions facing VHA member institutions. Services may include clinical facilities management; clinical project management; medical office building development, leasing, and management; development services or transaction management services.
Kevin C. O'Neil, senior managing director of Trammell Crow Healthcare Services, said, "We are honored to be selected by VHA. This selection truly validates TCHS' substantial progress in health care. As the only real estate firm with a national, full-service health care capability, we look forward to serving VHA member institutions by delivering better service at a lower cost on the critical real estate line item."
TCHS is one of the largest providers of real estate services to the health care industry, with more than 21 million square feet of facilities under management and over $1 billion under development. TCHS' ability to build and manage the real estate operations of hospitals is a major differentiator in the market. In addition, Trammell Crow Company recently created a private fund, Partners Health Trust, in partnership with a major state retirement system, in order to develop and own medical office buildings or other medically related facilities affiliated with community hospital systems. The fund currently owns or has in the development process over $225 million of medically related assets.
Bob Sulentic, chairman and chief executive officer of Trammell Crow Company, said, "We are very pleased with the creation of this national relationship with VHA. The mission and values of our two organizations complement each other, and we both have a strong focus on customer service. We started our health care industry initiative just six years ago, and it is rapidly becoming one of the fastest growing businesses in our company. We consider the health care business to be one of the key bets for our company today."
VHA delivers industry leading supply chain management services and supports the formation of regional and national member networks that enable members to work together to solve common clinical and operational challenges.
"The relationship with Trammell Crow Healthcare Services will enable VHA members to effectively and responsibly address large capital asset projects that have considerable impact on members' real estate and facilities," said Niklaus Fincher, senior director of Capital Asset Services for VHA.
About Trammell Crow Company
Founded in 1948, Trammell Crow Company is one of the largest diversified commercial real estate services companies in the world. The company provides building management, brokerage, project management, and development and investment services to both investors in and users of commercial real estate. In addition to its full service offices located throughout the United States, the company has offices in Canada, Europe, Asia and Latin/South America focused on the delivery of real estate services to corporate customers. The company delivers brokerage services outside the United States through strategic alliances with leading providers -- in Europe and Asia, through Savills, plc, a leading property services company based in the United Kingdom; and in Canada, through JJ Barnicke, a leading Canadian real estate services provider. The company delivers building management, brokerage, and project management services in India through Trammell Crow Meghraj, India's leading property services company jointly owned by the company and certain international partners. Trammell Crow Company is traded on the New York Stock Exchange under the ticker symbol "TCC" and is located on the Internet at www.trammellcrow.com.
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