Crescent Announces the Sale of Financial Plaza 
FORT WORTH, TX (REIT Media) July 3, 2007 - Crescent Real Estate Equities Company (NYSE:CEI) today announced the sale of Financial Plaza, a 309,983 square-foot Class A office property located in Phoenix. The property was sold yesterday for approximately $57.7 million, or $186 per square foot. Crescent will record a gain on the sale in the 3rd quarter of approximately $6.3 million.
ABOUT THE COMPANY
Crescent Real Estate Equities Company is a real estate investment trust headquartered in Fort Worth, Texas. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of 67 premier office buildings totaling 26 million square feet located in select markets across the United States with major concentrations in Dallas, Houston, Denver, Miami, and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, AZ, Vail Valley, CO, and Lake Tahoe, CA; and in the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent's Web site at www.crescent.com.
Source: Crescent Real Estate Equities Company
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Jul.03.2007. 14:28
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