Telford Homes gets EU clearance for CBRE takeover

Telford Homes has received clearance from the European Commission for its takeover by US real estate firm CBRE.

CBRE announced in July that it had agreed a £267m takeover with Telford Homes, which will be incorporated into its Trammell Crow Company real estate development business.

The US company’s president and chief executive, Bob Sulentic, said at the time: "Telford gives us a compelling opportunity to build on the success of Trammell Crow Company.

"The UK is in the early stages of a secular shift toward institutionally owned urban rental housing, similar to what we have seen in the US over the last two decades. Telford is well positioned to lead this trend, and their more than 300 talented professionals operating in London are a great addition to our company."