Crescent Announces Agreements with Ritz-Carlton.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--April 21, 2004 Crescent Real Estate Equities Company Crescent Real Estate Equities Co. (NYSE: CEI) is a Fort Worth, Texas-based real estate investor with holdings mainly in office and hotel properties, including several landmark buildings in the southern United States. (NYSE NYSE See: New York Stock Exchange :CEI CEI Competitive Enterprise Institute CEI Conferenza Episcopale Italiana (Italian bishop conference) CEI Central European Initiative CEI Comitato Elettrotecnico Italiano (Italian Electrotechnical Committee) ) today announced it has signed agreements with The Ritz-Carlton Hotel Company
The Ritz-Carlton Hotel Company is the parent company to the luxury hotel chain, Ritz-Carlton Hotels. , L.L.C. to develop the first Ritz-Carlton hotel and condominium project in Texas, upon reaching an acceptable level of pre-sales for the residences. The site for the project is a 3.4-acre Crescent-owned land parcel located adjacent to The Crescent office, retail and hotel complex in Dallas. The proposed 21-story Ritz-Carlton, Dallas, would include approximately 215 hotel rooms and 70 residences. Ground breaking is currently targeted for the first quarter of 2005. Consistent with its other development projects, Crescent will consider bringing in a joint-venture partner. ABOUT CRESCENT Celebrating its tenth year, Crescent Real Estate Equities Company (NYSE:CEI) is one of the largest publicly held real estate investment trusts in the nation. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of more than 75 premier office buildings totaling more than 30 million square feet primarily located in the Southwestern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with major concentrations in Dallas, Houston, Austin, Denver, Miami and Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . In addition, Crescent has investments in world-class resorts and spas and upscale residential developments. For more information, visit the company's website at http://www.crescent.com. ABOUT THE RITZ-CARLTON HOTEL COMPANY, L.L.C. The Ritz-Carlton Hotel Company, based in Chevy Chase, MD, manages 57 award-winning hotels in Asia, Africa, North America, South America, Europe, the Caribbean and Mexico, and The Middle East. For more information, visit the website at www.ritzcarlton.com. |
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