Real Estate Management

The University has signed contracts with three companies to manage the holdings formerly under the control of Trammell Crow (Almanac, September 3). Three year contracts were signed on October 1 with Campus Apartments, Jones Lang LaSalle and Altman Real Estate Agency.

Each company will be responsible for different divisions. Jones Lange LaSalle will manage the commercial and retail facilities, while Campus Apartments will manage the approximately 950 residential units owned by Penn. Altman Real Estate Agency will be responsible for the Neighborhood Preservation and Development Fund, the joint venture with Fannie Mae that provides for the purchase, and rehabilitation of multifamily rental units.