Goff, Barclays Capital partnership acquire Crescent properties from Morgan Stanley

Fort Worth’s Goff Capital Inc. and Barclays Capital, of London, formed a joint venture to acquire for an undisclosed amount a real estate investment company that owns and manages more than 17 million square feet of office space and investments in other properties.

John C. Goff was appointed chairman and CEO of Crescent Real Estate Equities Limited Partnership, a company he co-founded in the early 1990s before selling it to Morgan Stanley in 2007. Now, Goff Capital and Barclays together will repurchase Crescent, a Fort Worth firm that manages 36 office buildings in Dallas, Houston, Denver and Las Vegas, from Morgan Stanley. The company also has interests in residential developments, hotels and resort spa Canyon Ranch.

“Given his extensive knowledge of the Crescent portfolio, John is well suited to manage the company going forward,” said Haejin Baek, managing director and head of commercial real estate capital markets at Barclays Capital, in a statement.

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