Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LAFITTE MICHAEL J
   2. Issuer Name and Ticker or Trading Symbol
TRAMMELL CROW CO [TCC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Global Serv.Group
(Last)
(First)
(Middle)
2001 ROSS AVENUE, SUITE 3400		 3. Date of Earliest Transaction (Month/Day/Year)
04/26/2006
(Street)

DALLAS, TX 75201		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 04/26/2006   M   34,858 A $ 28.69 152,942 (1) D  
Common Stock 04/26/2006   S(2)   34,458 D $ 38.69 118,484 (1) D  
Common Stock 04/26/2006   S(2)   400 D $ 38.76 118,084 (1) D  
Common Stock 04/26/2006   S(3)   4,900 D $ 39.75 113,184 (1) D  
Common Stock 04/26/2006   S(3)   100 D $ 39.76 113,084 (1) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 28.69 04/26/2006   M     34,858 08/03/1999(4) 08/03/2008 Common Stock 34,858 (5) 0 D  
Stock Option (right to buy) $ 13.9             05/24/2006 05/24/2009 Common Stock 11,250   11,250 D  
Stock Option (right to buy) $ 11.44             03/08/2001(6) 03/08/2010 Common Stock 22,000   22,000 D  
Stock Option (right to buy) $ 17.88             05/18/2002(7) 05/18/2009 Common Stock 10,000   10,000 D  
Stock Option (right to buy) $ 17.44             05/05/2000(8) 05/05/2009 Common Stock 10,210   10,210 D  
Stock Option (right to buy) $ 18.06             02/18/2000(9) 02/18/2009 Common Stock 3,208   3,208 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LAFITTE MICHAEL J
2001 ROSS AVENUE
SUITE 3400
DALLAS, TX 75201		       President, Global Serv.Group  

Signatures

 /s/ Michael J. Lafitte   04/28/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 66,502 shares of restricted stock, with 20,000 shares vesting on 3/5/2007, 20,000 shares vesting on 3/5/2008, and 26,502 shares vesting on 5/18/2009. Also includes 564 shares acquired under the Issuer's Employee Stock Purchase Plan.
(2) The sale reported in this Form 4 was pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 3/6/2006. The shares sold in such sale were sold in connection with a broker assisted cashless exercise of options.
(3) The sale reported in this Form 4 was pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 3/6/2006.
(4) The options vested in five equal annual installments beginning 8/3/1999.
(5) The options were exercised in a broker assisted cashless exercise.
(6) The options vested in four equal annual installments beginning 3/8/2001.
(7) The options vested in three equal annual installments beginning 5/18/2002.
(8) The options vested in four equal annual installments beginning 5/5/2000.
(9) The options vested in three equal annual installments beginning 2/18/2000.

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