About Crescent
Crescent acquires, develops, and operates high-end properties alongside an exclusive group of investors and high net-worth clients.
Crescent Real Estate is a private, vertically-integrated commercial real estate investment, operating and development firm with an established track-record of investing through economic cycles and creating value for investors.
Crescent primarily invests through its GP Invitation Fund series, which was established in 2016 when our company’s chairman, John Goff, combined the resources of Crescent Real Estate and Goff Capital Partners to establish and lead the capital campaign for the first GP Invitation Fund.
The GP Invitation Funds exclusively partner with private clients and are uniquely structured to align incentives between the firm and its investors. The GP Invitation Funds provide its investors with the opportunity to directly own a diversified portfolio of institutional quality real estate.
The Crescent team has deep experience in sourcing, executing, and managing real estate investments throughout the U.S. and its diversified portfolio includes office buildings, hotels and residential assets.
Portfolio Details
- $16B+ Investments
- 66M Office Square Feet
- 9,300 Hotel Keys
- 10,100 Multifamily Units
Investment Strategy
Crescent is a demographically driven investor with a focus on hospitality, multifamily and office investments in South and Southwest growth markets within the U.S.
The company, co-founded by Richard Rainwater and the current chairman John C. Goff, initially took shape as Crescent Real Estate Equities. Its inception was driven by the intent to capitalize on a unique opportunity to develop a real estate portfolio amidst a downturn in the market.
Crescent maintains its efforts to capitalize on dislocations in the market to acquire high-conviction, premier, institutional quality assets at an attractive basis. Crescent strives to create value over time through intensive asset management, re-development and development.
Crescent emphasizes capital preservation and incentive alignment with its investors. Crescent endeavors to leverage its proprietary relationships, flexible structure and liquidity to source attractive risk-adjusted investment opportunities on behalf of its investors. The unique structure of the GP Invitation Funds allows Crescent to be strategic in timing of acquisitions and dispositions, selective on property types and creative in investment structure. This flexibility has been critical to past success and is even more important given today’s market climate.
Our Expertise
Investment
Crescent has the advantage of tenured leadership and experience in multiple aspects of the real estate industry. A successful investment record and expertise in all areas of real estate allow for a comprehensive approach to investment opportunities, strategies and investments. Crescent provides unparalleled service to investors, partners and customers, which differentiates Crescent from others in the industry.
Development
As one of the country’s most established commercial real estate firms, Crescent offers exceptional development expertise. As a developer of Class A and creative office buildings, multifamily communities, resort residential developments and luxury hotels, Crescent performs exhaustive preparation to achieve exceptional results.
Operations
Crescent’s success in asset management, paired with exceptional, award-winning customer service, allows the company to lease and operate assets efficiently and effectively. Crescent focuses on the customer experience including building design, maintenance, amenities and programs.
The GP Invitation Funds
| GPIF I | GPIF II | GPIF III | GPIF IV | |
|---|---|---|---|---|
| Vintage | 2016-2019 | 2019-2021 | 2022-2024 | 2024+ |
| Status | Actively Harvesting | Fully Invested | Actively Investing | Actively Fundraising |
| Investment Cost Basis | $2.5 Billion | $2.1 Billion | $1.8 Billion | TBD |
| GP Fund Commitments | $200 Million | $250 Million | $265 Million | $250-300 Million |