With the opening of luxury high-rise Deco 969 in July, another luxury residential property is filling up in Fort Worth: The Crescent Fort Worth has begun leasing at The Crescent Residences, a 168-unit luxury apartment complex at 833 Van Cliburn Way in the Cultural District.
Crescent Residences is located near cultural landmarks such as the Kimbell Art Museum, Modern Art Museum of Fort Worth and Dickies Arena, as well as Crescent’s own Circle Bar and Emilia’s Restaurant.
“The Crescent Residences represents a bold step forward in luxury rental housing in Fort Worth,” Alexandra Pannell, regional marketing manager for FirstService Residential, the apartments’ property management company, said in a news release. “With its premier location and carefully curated lifestyle program, we are pleased to offer residents a seamless blend of modern elegance and cultural richness.”
Check out these apartments at The Crescent Residences in the Cultural District. (Photo by Faulkner Design Group)
Crescent Residences were designed by Dallas architects GFF and feature luxury finishes such as custom Italian cabinetry, Bosch appliances and gas ranges. Apartments range from one-bedroom units to townhouses. Residents enjoy private balconies, resort-style pools with cabanas, urban terraces and upscale amenities.
The residences were developed by Crescent Real Estate LLC as part of a mixed-development project that also includes the Crescent Hotel and Canyon Ranch Wellness Club. Leasing for the residences is underway and is expected to be completed by mid-2025.
In March, Crescent announced plans to add Crescent Office West, a second office facility in the mixed-use development. The planned eight-story office building is expected to break ground later this year and offer 170,000 square feet of Class AA office space by 2026.
M2G Raises Funding to Focus on Lone Star
M2G Ventures, a real estate investment and development firm, has raised its first general partner equity fund, Grey Swan I. According to a company news release, Grey Swan I will enable M2G and its investors to leverage its strategy at greater scale and with greater efficiency to pursue value-add industrial and mixed-use properties in select growth markets, with a primary focus in Texas.
“Recent volatility in the real estate capital markets presented an opportunity for our team to find strong risk-adjusted returns in our target asset classes and geographies,” said Susan Miller, co-founder of M2G Ventures. “We believe the market will create opportunities for entrepreneurial groups like M2G that can act quickly and strategically to take advantage of the disruption in 2024 and beyond. The closing of the Grey Swan I Fund marks the beginning of a new era for M2G’s investment strategy.”
The fund made its first two acquisitions in Dallas’ Redbird submarket.
In 2024 and throughout the life of the fund, M2G will continue to focus on its core investment strategy of acquiring, designing and developing infill industrial and mixed-use assets in supply-constrained areas with strong investment fundamentals, according to a news release.
Refinancing of industrial parks
JLL Capital Markets refinanced Denton Distribution Center, a recently completed Class A industrial park in Denton.
JLL represented Billingslea in securing a fixed rate loan used to refinance construction debt.
The Denton Distribution Center has two cross-dock industrial assets measuring 451,384 square feet and 448,386 square feet, respectively. The facility is currently fully leased.
Have something you’d like to write for the Bob on Business column? Email Bob Francis at bob.francis@fortworthreport.org.
Bob Francis is the business editor of The Fort Worth Report. He can be reached at bob.francis@fortworthreport.org. At The Fort Worth Report, news decisions are made independent of our board of directors and financial supporters. Read more about our editorial independence policy here.
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