Crescent Real Estate Secures $300.1M Refinancing For The Ritz-Carlton Dallas & Hotel Crescent Court In Dallas

Crescent Real Estate has secured $300.1 million in refinancing for two prestigious hotels in Uptown, Dallas - The Ritz-Carlton Dallas and Hotel Crescent Court. This funding will not only cover the existing debt but also provide equity to Crescent Real Estate and fund reserves. Both hotels have been performing exceptionally well in their competitive market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $300,100,000
• Address: 2121 McKinney Avenue - The Ritz-Carlton Dallas & 400 Crescent Court - Hotel Crescent
• Market: Dallas
• Keys: 444
• Lender: Goldman Sachs
• Landlord: Crescent Real Estate - John Goff
• Loan Type: Refinance
• Loan Terms: 2 years

The successful refinancing was led by Goldman Sachs, acting as the lender in this transaction. Crescent Real Estate, under the management of John Goff, played a key role as the landlord. This deal will not only help Crescent Real Estate manage its existing debt but also inject equity into the company. Additionally, the funding will be used to create reserves for future development and expansion.