Monday, November 30, 2009

BARCLAYS, GOFF JV ACQUIRES CRESCENT REAL ESTATE EQUITIES

A joint venture between Barclays Capital and Goff Capital has acquired Fort Worth-based Crescent Real Estate Equities from Morgan Stanley Real Estate Funding II. As part of the transaction, John Goff, who co-founded Crescent and served as vice chairman and CEO until its sale to Morgan Stanley in 2007, will re-join the company as chairman and CEO. Terms of the deal were not disclosed. Crescent Real Estate Holdings owns or manages approximately 17 million square feet of office space, including Houston's 4.3 million-square-foot Greenway Plaza office complex.