Crescent Acquires Tuscany Plaza in the Greater Denver Market

FORT WORTH, Texas - Sept. 12, 2016 - PRLog -- Denver and Fort Worth-based Crescent Real Estate LLC (Crescent) acquired Tuscany Plaza, a six-floor, Class A office building featuring a timeless design and located in the preeminent office submarket of southeast suburban Denver. The transaction closed on September 7th. Tuscany Plaza is located at 6312 South Fiddlers Green Circle in the city of Greenwood Village, southeast of Denver.

The 259,118-square-foot building has a distinctive design featuring Tuscan travertine marble and highlights a covered plaza and courtyard with dramatic unobstructed mountain views. Tuscany Plaza's natural outdoor amenities are accentuated by green spaces, walking trails, a pond and an inspirational outdoor art gallery which customers access from the plaza and courtyard.

Three major customers have corporate offices in Tuscany Plaza. Red Robin International, Xanterra Parks & Resorts and Ciber, Inc. lease more than 50 percent of the building. Red Robin is an international chain of gourmet burgers restaurants. Xanterra Parks & Resorts is the United States' largest operator of park-based hotels, restaurants and stores.Ciber, Inc. is a global information technology consulting, services and outsourcing company. Crescent has engaged Doug Wulf with Cushman & Wakefield to lease the project.

"We are excited to expand our investment portfolio in the Denver market," said Conrad Suszynski, co-CEO of Crescent. "Colorado's Front Range continues to be a dynamic commercial real estate market and reflects everything we are looking for in terms of demographics. Tuscany Plaza's location at Village Center Station is unique in the area, providing Transit Oriented Development (TOD) access and urban amenities in a suburban context." The TOD strategic plan provides a foundation to guide public and private investment and development at rail stations.

Crescent currently owns approximately 1.8 million square feet of creative office and flex space in Denver, Boulder and Longmont and is looking to expand its portfolio in the area with two planned mixed-use development projects in Denver.

With its Fiddlers Green Circle address, Tuscany Plaza is just up the street from Village Center Station, which, in addition to the Arapahoe Road light rail station, features a diverse collection of restaurants, hotels and other walkable retail amenities in the immediate vicinity. In addition, Fiddlers Green Amphitheatre, an 18,000-seat concert venue, is located directly across the street.

About Crescent

Crescent Real Estate LLC (http://www.crescent.com) (Crescent) is a real estate operating company and investment advisor with assets under management totaling $1.4 billion. Through the recently established GP Invitation Fund I, Crescent will acquire, develop and operate all real estate asset classes alongside institutional investors and high net worth clients. Crescent's portfolio consists of 7,000 units of multifamily properties; 1.8 million square feet of creative office space; 610,000 square feet of Class A office properties in Colorado and Texas; and The Hotel Crescent Court in Dallas. Crescent is an affiliate of Crescent Real Estate Holdings, LLC, an award-winning owner and operator of premier real estate assets throughout the U.S. such as The Ritz-Carlton, Dallas, a newly developed Class AA office building, McKinney & Olive in Dallas, and the wellness lifestyle leader, Canyon Ranch®.