Crimson Real Estate Fund, LP (CREF), acquires, develops and repositions real estate assets across the U.S. in the value-add space. A general partner fund, CREF is managed by Crimson Real Estate Advisors, LP, based in Houston.  USAA Real Estate Company is the largest investor in the Fund and also co-invests alongside CREF, which serves as the Operating Partner.

The Fund targets office, residential and hospitality properties but has the potential to invest across all asset classes, given Crimson’s extensive execution abilities for virtually all product types.

Sponsor

In 2009, Crimson Capital, Ltd., formed a new alliance partnership with USAA Real Estate Company creating the Crimson Real Estate Fund. Since 1983, the principals of Crimson Capital have guided the firm as a national leader in the acquisition, development and management of real estate projects throughout the country. Their capability coupled with the broad expertise and superior services provided by the firm’s two affiliates have been the hallmark of its long-standing client relationships:

Patrinely Group, LLC develops large-scale real estate projects and specializes in build-to-suit corporate headquarters and regional offices.

Crimson Services, LLC provides property management, leasing, due diligence, and construction management services.

Strategy

The Fund will leverage the sponsor’s significant deal flow established through its national platform and more than 25 years of market coverage, operating capabilities, and extensive relationships in order to capitalize on real estate investment opportunities in the value-add space.

Property Types

• Office Distressed with substantial vacancy, core-plus or value-add, repositioning opportunities and corporate build-to-suits • Residential New construction urban multi-family • Hospitality Distressed luxury urban and resort properties with a residential component