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Transwestern Development Company Update 06/01/23

Mid-Atlantic CRE Developer Perseus TDC Becomes Transwestern Development Company

Transwestern Development Company (TDC®) announces Perseus TDC, its development arm in the Mid-Atlantic region, is rebranding under the TDC name. The regional office will continue investing alongside its financial partners in premier properties, adding value through skilled entitlement planning, design, risk management and operations.


“Perseus TDC’s rebranding emphasizes the inherent value of Transwestern’s strong national reputation,” said Toby Millman, Regional Partner, Transwestern Development Company. “With insight gained from across the enterprise, TDC sources and executes projects that respond to both local and national market trends. The synergy among TDC’s regional development teams contributes greatly to the firm’s success and illuminates the full capabilities we can bring to our clients.”   


Perseus TDC was founded as Perseus Realty in 2004 by Robert Cohen, President and CEO, whose retirement coincides with the name change. In 2017, the regional company partnered with TDC and became Transwestern’s Mid-Atlantic development operation. In 2020, Perseus TDC became a wholly owned entity of Transwestern Development Company.


Since its inception, Perseus has acquired and developed 3.75 million square feet of mixed-use, multifamily, office, hotel and retail properties in the Washington metro and core suburban markets of Virginia and Maryland. Notable projects include NoMaCNTRThe Six, and The Foundry, an award-winning development that received CREW DC’s 2020 Project Excellence award, NAIOP’s 2021 Best Building in Adaptive Reuse award, and ENR Mid-Atlantic’s 2021 Best Projects Merit in Renovation and Restoration award.   


“Bob has led the continued growth of Perseus over the years, establishing it as a trailblazer on many fronts,” said Carleton Riser, President, Transwestern Development Company. “Keen foresight, innovative thinking, and an ability to respond to market demand in a way that raises entire communities is something to celebrate. We congratulate Bob on his retirement and, with Toby at the helm, look forward to bringing more outstanding projects to life in the Mid-Atlantic.”




With nine regional offices throughout the United States, TDC offers clients a combination of local insight and expertise as well as national resources and relationships. Currently, it has 35 projects totaling 18.6 million square feet and 3,362 multifamily units under construction or in pre-development planning stages across the country.

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