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Crescent Real Estate's newly established GP Invitation Fund will invest $30M into Rosewood Crescent Hotel and upgrade everything from guest rooms to the hotel's name—now Hotel Crescent Court.
The fund, established last month, will have more than $4B in investment capacity and has closed or will close on six new investments totaling $400M.
Situated on the 11-acre grounds of The Crescent's mixed-use space, Hotel Crescent Court will receive upgrades to the 22k SF spa, 20k SF of meeting space, banquet space and customer service.
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HEI Hotels will manage the 220-room hotel, built in 1985. Andrew Davidson will be GM of the hotel.
Crescent chairman John Goff (above) previously owned the Hotel Crescent Court. Crescent affiliates lease and manage The Crescent, own the Ritz-Carlson and will soon complete McKinney & Olive.
