Crescent Welcomes New Officers.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) ) recently welcomed two new officers to its management team. S. Lee Moreland joined Crescent as vice president, joint venture asset management, for the Houston region. Mr. Moreland will be responsible for the asset management of the joint venture properties in the Houston region, which now encompasses 9 million square feet of properties located in Houston and Austin. As an employment-inducement award, Crescent has granted options covering a total of 10,000 common shares to Mr. Moreland. Mr. Moreland, who joined Crescent in June, has approximately 20 years' experience in real estate, and, in particular, in the asset management of commercial office properties in the Southwest. Most recently, Mr. Moreland served as vice president, regional manager for CMD CMD cerebromacular degeneration. Realty Investors, L.P., in Houston, where he was directly responsible for a $350 million value-added portfolio consisting of 3 million square feet in multiple markets across the Southwest. Prior to that, Mr. Moreland served as a director of commercial real estate for American General Investment Management, L.P., in Houston, where he developed and implemented investment strategy for a diverse portfolio of equity real estate holdings. Mr. Moreland is a graduate of the University of Texas at Austin “University of Texas” redirects here. For other system schools, see University of Texas System. The University of Texas at Austin (often referred to as The University of Texas, UT Austin, UT, or Texas with a Bachelor of Business Administration “BBA” redirects here. For other uses, see BBA (disambiguation). The Bachelor of Business Administration (BBA) is a bachelor's degree in business studies. in Finance. Charles D. Coleman has also joined Crescent as vice president, investments and development. Mr. Coleman will be responsible for the development of assets, in particular, the newly announced, 255,000 square-foot Class A office property scheduled to break ground at Hughes Center in Las Vegas in third quarter of this year. As an employment-inducement award, Crescent has granted options covering a total of 10,000 common shares to Mr. Coleman. Mr. Coleman, who also joined Crescent in June, has more than 27 years in experience in all phases of real estate development. Most recently, Mr. Coleman was vice president, development, for The Related Company in Las Vegas, where he was responsible for implementation of their commercial real estate development plan. Prior to that, Mr. Coleman was a director of development with the Howard Hughes Corporation, a subsidiary of The Rouse Company, where he was responsible for developing, among other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. , five Class A office buildings within Hughes Center. Mr. Coleman is a graduate of Clemson University with a Bachelor of Architecture The Bachelor of Architecture (B.Arch.) is an undergraduate academic degree designed to satsify the academic component of professional accreditation bodies, to be followed by a period of practical training prior to professional examination and registration. degree, and he is a licensed architect. The exercise price for the options, which vest 20% per year for each of the next five years, is equal to the closing price of Crescent's common shares on the NYSE on the date of grant. ABOUT CRESCENT Crescent Real Estate Equities Company (NYSE:CEI) is a real estate investment trust headquartered in Fort Worth, Texas. 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 located in select markets across the United States, with major concentrations in Dallas, Houston, Austin, Denver, Miami and Las Vegas. Crescent also makes strategic investments in resort residential development, as well as resorts, including Canyon Ranch(R). For more information, visit the Company's website at http://www.crescent.com. |
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