CBRE Group Inc. (NYSE:CBRE) announced leadership changes within its Real Estate Investments business segment and Trammell Crow Company subsidiary on Dec. 8.
Mike Lafitte, Global Chief Executive Officer (CEO) of Real Estate Investments, will assume additional responsibilities as CEO of Trammell Crow Company, CBRE’s real estate development subsidiary.
Matt Khourie, Trammell Crow Company’s current CEO, will move into a newly created position – Chief Investment Officer (CIO) of Real Estate Investments, reporting to Lafitte. In this role, Khourie will focus on allocating CBRE’s equity capital into direct real estate investments and funds as well as Real Estate Investments-related initiatives. Lafitte and Khourie will assume their new duties on Jan. 1, 2021.
Additionally, Khourie will assume the duties of CIO of Trammell Crow Company on April 1, 2021, when the company’s current CIO, Craig Cheney, will retire.
Adam Weers will be promoted to Chief Operating Officer (COO) of Trammell Crow Company on April 1, 2021, when the company’s current COO, Mike Duffy, will retire. Weers has been a Principal in Trammell Crow Company’s Washington, D.C., office for nine years, and has led key development projects. In his new role, he will administer Trammell Crow Company’s investment approval and Executive Committee processes, and oversee its Marketing, Communications, People, Legal/Risk Management and Digital & Technology.
He will report to Lafitte.
“Matt is a seasoned investor and I look forward to his partnership in identifying and acting on opportunities to deploy CBRE’s capital as a principal in real estate. Adam has been a valued member of the Trammell Crow Company for more than 15 years, and our national leadership team will benefit significantly from his organizational skills and other talents. Craig and Mike have been exemplary members of our leadership team for decades and we wish them all the best as they enter a new phase of their lives,” Lafitte said in the announcement.
In December, Trammell Crow Company was ranked the No. 1 commercial development firm in the U.S. by Commercial Property Executive for the seventh consecutive year.