REBusinessOnline

Crescent Real Estate Re-Acquires 1.3 MSF Namesake Mixed-Use Building in Uptown Dallas

DALLAS — Fort Worth-based based investment and development firm Crescent Real Estate LLC has re-acquired The Crescent, a 1.3 million-square-foot mixed-use property in Uptown Dallas. The property was originally built in 1986 and consists of a luxury hotel, three office towers and retail/restaurant space. According to The Dallas Morning News, the sales price was upwards of $700 million.

The 11-acre property was part of Crescent Real Estate’s initial public offering in 1994. After a later sale, Crescent Real Estate re-acquired the asset in 2009 in partnership with Barclays. This latest acquisition of the property marks its third stint under Crescent Real Estate’s ownership; however, the firm has continued to lease and manage The Crescent since 1994. The previous owner completed $33 million in renovations in 2016.

“I chose the Crescent name for our company because I loved the asset — its quality, timeless architecture and iconic nature,” said John Goff, chairman of Crescent Real Estate. “To acquire it, now for the third time, is exciting for me personally and the entire Crescent team.”

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties