WASHINGTON, Sept. 7 /PRNewswire/ -- CarrAmerica and Rosewood Property
Company today announced plans to start construction of the 19-story,
400,000 square foot Rosewood Court office building in October 2006.
Additionally, the companies are pleased to announce the signing of HBK
Investments, a global alternative investment management firm, for 60,000
square feet of the trophy tower. HBK Investments will be relocating its
corporate headquarters to Rosewood Court in the spring of 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO )
CarrAmerica's Senior Vice President for Dallas, Bob Buell, commented,
"Rosewood Court is one of the most exciting new developments to start in
Dallas in recent years." Mr. Buell continued, "CarrAmerica is delighted to
be leading the development, leasing and management team for the project,
knowing that Rosewood Property Company is fully committed to the
development of the finest possible building."
Caroline Rose Hunt commented, "We are delighted to develop another high
quality building designed to Rosewood standards in the tradition of our
previous Crescent development. This building, featuring today's state of
the art technology, allows our family to permanently bring all of our
business operations together under a single roof."
In addition to the HBK Investments lease, The Rosewood Corporation and
its subsidiaries will also be relocating their corporate headquarters to
Rosewood Court.
Located adjacent to the Hotel Crescent Court, The Spa at the Crescent
and the new Ritz Carlton Hotel and Residences, Rosewood Court will be
situated in the heart of the Uptown district just north of downtown Dallas.
Bordered by Cedar Springs Road, Pearl Street and McKinnon Avenue, Rosewood
Court will provide its tenants a mixed-use environment consisting of
residential living, restaurant and retail space and unmatched panoramic
views of the city. Conveniently located less than five minutes from
downtown Dallas, the Arts District and the Design District, Rosewood Court
will be an easy walk to American Airlines Center and the Katy Hike and Bike
Trail. The project will provide state-of-the-art security and an access
system, energy efficient green design, covered parking, and includes plans
for an on-site restaurant, fitness center and conference center.
CarrAmerica owns, develops and operates office properties in 12 markets
throughout the United States. The company has become one of America's
leading office companies by meeting the needs of its customers with
superior service, a large portfolio of quality office properties and
extraordinary development capabilities. Currently, CarrAmerica and its
affiliates own, directly or through joint ventures, interests in a
portfolio of 275 operating office properties, totaling approximately 24.8
million square feet. CarrAmerica's markets include Austin, Chicago, Dallas,
Denver, Los Angeles, Orange County, Portland, Salt Lake City, San Diego,
San Francisco Bay Area, Seattle and metropolitan Washington, D.C. For
additional information on CarrAmerica, including space availability, visit
our web site at http://www.carramerica.com.
Rosewood Property Company is a wholly owned subsidiary of The Rosewood
Corporation, the holding company for the Caroline Hunt Trust Estate. The
Rosewood Corporation is a diversified investment company with holdings,
through its subsidiaries, in real estate, oil and gas, luxury hotel
ownership and management, operating companies and various private equity
concerns.
As the real estate investment arm of The Rosewood Corporation, Rosewood
Property Company and its affiliates have an extensive portfolio, including
investments in land, office, hotel, industrial, retail, senior housing,
multi- family, and single family properties. Rosewood has also made both
debt and equity investments in private and public real estate investment
companies as well as been involved in development, operation and
acquisition of new and existing properties.
SOURCE CarrAmerica
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