GOFF CAPITAL PARTNERS PURCHASES THREE HISTORIC WEST END DISTRICT BUILDINGS
West End buildings to provide creative office environments in downtown Dallas
FORT WORTH, TX, (December 2, 2015) – Goff Capital Partners, LP, in partnership with Long Wharf Real Estate Partners LLC, announce the purchase of three brick-and-timber office buildings in the Historic West End District of downtown Dallas totaling 182,844 square feet of creative office space. The purchase of 501 Elm Street, 211 Record Street and 800 Jackson Avenue was finalized November 30 and addresses increasing customer demand for unique and modern creative office space within a highly amenitized and truly walkable environment.
Goff Capital Partners will engage Crescent Property Services LLC, a wholly-owned subsidiary of Crescent Real Estate Holdings LLC, to manage the new properties while Peloton Commercial Real Estate will lease the office space. Corgan, a leading architecture and design firm, will work with Goff Capital Partners to design common area and suite upgrades to address customer requirements for creative office environments that incorporate high-tech, flexible and open office concepts.
“Crescent Property Services management of the properties adds a new, Class-A level of service to the assets that will further highlight the renovations,” said John Goff, managing principal of Goff Capital Partners, LP. “Historic West End is one of only three submarkets in Dallas that can offer this unique dynamic which appeals to the more than 1.9 million Millennials working in the Dallas market.”
With the purchase of a considerable share of the brick-and-timber office product in Dallas, Goff Capital Partners, Long Wharf and Crescent are appealing to a shift in Corporate America toward quality of life and quality of space, especially office buildings within “walkable & livable” neighborhoods. This portfolio with Crescent’s management will offer customers a truly unique office experience not found anywhere else in the city, according to Goff.
The Historic West End District buildings were all constructed in the early 1900s and are located conveniently along the DART commuter rail line.
ABOUT GOFF CAPITAL PARTNERS
Goff Capital Partners, LP is an SEC registered investment advisor founded in 1998 by John Goff. Goff Capital Partners invests alongside institutional and ultra-high net worth clients in real estate and real estate related investment opportunities. Goff Capital Partners employs opportunistic, value-driven investment strategies across the capital structure, including direct property ownership, debt, equity,and securities investments. Goff Capital Partners current assets under management include office, industrial, retail and multifamily real estate, and commercial mortgage backed securities. The firm manages a portfolio of more than $1.0 billion in equity and debt investments including 1 million square feet of creative office space in Boulder and Denver, Colorado.
ABOUT LONG WHARF REAL ESTATE PARTNERS LLC
Long Wharf Real Estate Partners LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. Investing on behalf of institutional clients, including public and corporate pension funds, endowments, foundations and family offices, Long Wharf utilizes a broad-based value-added strategy targeting opportunities in multiple property sectors and markets across the country. Including experience prior to becoming an independent firm in 2011, Long Wharf has invested in real estate transactions totaling nearly $9 billion in gross capitalization since 1995. Long Wharf owns creative office projects in the San Diego and Atlanta markets. For further information, visit: www.lwrep.com.
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Goff Capital and Barclays Capital. Through its subsidiaries, Crescent manages and develops premier, Class A office buildings. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; a luxury hotel, The Ritz-Carlton, Dallas; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit www.crescent.com