GP Invitation Fund II will have more than $4 billion investment capacity
FORT WORTH, TEXAS, US, June 26, 2019 /EINPresswire.com/ — Crescent Real Estate LLC (Crescent) has closed a second investment fund to acquire, develop and operate real estate assets. The fund, which will be known as GP Invitation Fund II (Fund II), closed on April 1, 2019, after a private, invitation-only campaign raised $250 million from investors.
Crescent expects the fund to have in excess of $4 billion in investment capacity by partnering with long-standing, high net-worth and institutional clients.
“We have taken our success over the past 25 years of doing smart deals – being nimble in terms of timing, type of asset and geography – and applied it to the structure of Fund I (GP Invitation Fund I), and now Fund II. Our unique structure allows us to be fast and flexible and pursue opportunities that are most beneficial to our investors,” stated John Goff, Chairman of Crescent.
“Fund I fully invested in an over $3 billion diversified portfolio of 28 investments spread across office, multifamily, hospitality and senior living – both existing assets and development,” said Jason Anderson, Co-CEO of Crescent. “Inspired by the success of Fund I, Fund II was raised quickly and already has closed seven investments with asset values of approximately $750 million.”
Notable Fund II assets include the 473-room Westin Riverwalk in San Antonio, Texas and a 10-building, 1.1 million square-foot office portfolio in Colorado Springs, CO.
“As a fully integrated real estate investment, management and development company with over 100 team members we are continuing our diversified investment strategy and building on the success of Fund I,” said Conrad Suszynski, Co-CEO of Crescent.
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion. Through the GP Invitation Fund I and the GP Invitation Fund II, the company acquires, develops and operates all real estate asset classes alongside institutional investors and high net-worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily and hospitality assets located throughout the U.S., including The Ritz-Carlton, Dallas, and the wellness lifestyle leader, Canyon Ranch®. For more information, visit www.crescent.com.
Dennis E. Winkler
Crescent Real Estate
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Source: EIN Presswire