July 8, 2016
Dallas real estate magnate John Goff and Crescent Real Estate LLC bought the 220-key Rosewood Crescent in Dallas’ uptown submarket. Crescent and Goff, who owned the property in the 1990s, plan to return the hotel to its historic name – Hotel Crescent Court – and spend $30 million on renovations.
The hotel, located at 400 Crescent Court, anchors The Crescent, an 11-acre, mixed-use development that is also undergoing a $33 million renovation. Crescent Real Estate owns the entire block, from McKinney Avenue, to Maple Avenue, to Cedar Springs Road.
Goff and Crescent Real Estate bought the hotel through GP Invitation Fund I. The recently established, invitation-only real estate fund has a $4 billion investment capacity.