Mark DePucchio, managing director for GE North American Equityin Norwalk, CT, says the JV is targeting more sites in Texas andelsewhere in the US although there is no set development goal. "TCRis an outstanding developer. They have a lot of experience on anational basis and do a good job of delivering the product on timeand within budget," he says. "With all the changes in the marketrecently, TCR is a strong partner with a great product."

DePucchio tells GlobeSt.com that the joint venture is planningto sell the Alexan complexes at completion or sooner. The firstunits for the two projects will come on line by year's end.

"When the market says we can maximize our value, that's when wesell," DePucchio explains. "If we can stabilize the numbers evenbefore completion, we'll put the property on the market. Our planwith TCR is to develop and sell." He says the JV, though, hasunderwritten the projects for three-year holds.