Colin Murphy is fund manager for TCC's side of the JV while JohnFrandson is Principal Real Estate Investors' program overseer. TheDallas-based TCC first hinted to shareholders about the developmentprogram in its fourth quarter 2005 earnings call.

Additional details will follow, but Murphy has told GlobeSt.comthat the first two spec projects will be announced in the comingdays for Houston and Austin. The JV program will be put into playin "a number of cities," but the press release cited some top picksas Austin, Houston, Dallas, Scottsdale, AZ and Los AngelesCounty.

Jim Groch, TCC's chief investment officer, says the officedevelopment program "is consistent with our stated strategy ofcreating capital programs and funds that provide investmentopportunities." And, he adds, the industry can expect additionalfunds or programs to launch this year.