Firm Founder Crow Passes Away at 94
- Jan 16, 2009
Trammell Crow, founder of the commercial real estate firm that bears his name, has died at 94. Crow, who started the company in 1948, saw it grow to a major investor and developer with more than 500 million square feet and $50 billion in assets under its belt. Crow, who passed away at his family’ farm in East Texas on Jan. 14., went from owning a single Dallas warehouse to becoming a driving force behind major developments in cities such as Dallas, Atlanta and San Francisco. In addition, he founded Wyndham Hotel Co., which was acquired by an affiliate of Blackstone Group L.P. in 2005. The following year, Trammell Crow Co. was bought for $2.2 billion by CB Richard Ellis Inc., largely in order to give the real estate services behemoth a major footprint in the development sector. Crow’s many charitable works include the creation of an Asian art museum in the Dallas Arts District, to which he donated many pieces from his large collection of Asian artworks. He also donated the funds to construct a building for the business school at Southern Methodist University. “The world will remember Mr. Crow as a legendary real estate developer and businessman because of his unparalleled vision and passion for success,” said former Trammell Crow Co. and Wyndham Hotels CEO Jim Carreker, also a long time family friend. “But to those who were fortunate to know him personally, we will remember his humor and upbeat personality along with his uncompromising honesty, integrity and character.” Crow is survived by his wife of 66 years, Margaret, their six children, 16 grandchildren and three great-grandchildren.Crow’s death comes just weeks after the passing of another real estate pioneer. Hal Ellis, co-founder of services firm Grubb & Ellis Co., succumbed to melanoma on Jan. 6 at the age of 77. Ellis helped establish the firm in 1958 and turned it into one of the most well-known companies in the industry by the time he stepped down as chairman & CEO in 1992.