Barclays Capital (BCS) announced that it has formed Crescent Real Estate Holdings LLC , a joint venture with Goff Capital Inc., to acquire Crescent Real Estate Equities Limited Partnership from Morgan Stanley Real Estate Funding II. Terms were not disclosed.
Crescent is a real estate investment company that owns and manages over 17 million square feet of premier office space, as well as investments in resort residential developments, luxury hotels and Canyon Ranch.
The firm also announced the appointment of John C. Goff as Chairman and Chief Executive Officer of Crescent. The appointment marks Goff's return to Crescent, a firm he formerly led as Vice Chairman & CEO until its sale to Morgan Stanley in 2007.
Goff co-founded Crescent Real Estate Equities in the early 1990s. He led the company as Vice Chairman & CEO during its IPO in 1994 and until its sale to Morgan Stanley in 2007. In 1998, Goff founded Goff Capital Partners, L.P., a private investment firm focused on real estate which currently has more than $5.0 billion in assets under management.
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