Fort Worth’s Crescent Real Estate Raises $265 Million

Fort Worth’s Crescent Real Estate has raised $265 million from existing and new private investors to build and operate properties.

The diversified real estate firm says it has committed less than 10% of its Fund III capital and can provide up to $4 billion in funds by partnering with clients and institutional investors, according to a Dallas Morning News report.

Crescent owns Uptown Dallas’ The Crescent, a mixed-use office complex, among other assets that total $4.5 billion spread over office, multifamily, hospitality and senior living properties. The company also has nearly $500 million in active developments.

Crescent also manages several notable properties in its portfolio, including The Ritz-Carlton Dallas and Canyon Ranch resorts in Arizona, California and Massachusetts.

In October, Crescent announced it was teaming up with VICI Properties, yet another New York-based real estate firm enamored with Austin’s real estate market, to build a Canyon Ranch-branded luxury resort near Austin.