Crescent Announces Sale of Non-Core Office Asset.FORT WORTH, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. -- 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 the sale of Albuquerque Plaza Albuquerque Plaza is a major mixed-use highrise development on the south side of Civic Plaza in downtown Albuquerque, New Mexico. It consists of two towers connected at ground level by a two-story promenade containing retail space. , a 366,236 square-foot Class A office property located in downtown Albuquerque. The disposition is consistent with Crescent's stated objective of selling non-core assets. The sale generated proceeds, net of selling costs, of $34.7 million, which were used to pay down secured debt. ABOUT THE COMPANY 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, with major concentrations in Dallas, Houston, Austin, Denver, Miami and Las Vegas. 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. |
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