The deal is structured with Principal as the majority partnerand TCC as the development ringleader, with an eye on an expeditedfunding process to get multi-tenant projects out of the ground asquickly as possible. TCC's fund manager Colin Murphy tellsGlobeSt.com that the Dallas partner intends to merchant build whilePrincipal's managing director John Frandson says it's planning afive- to 10-year hold of the finished product. "The anticipatedhold will depend on the market," Frandson adds.
Likewise, Frandson says the markets for the target cities alsowill dictate when and where to build. "We are going to be prudentwith our investment," he says. "Trammell Crow's role is really tobring us opportunities and we'll decide if we want to pursue them.The additional piece for them is building the buildings."
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