Last Tuesday, a Crescent spokesman declined to comment on the deal's status to GlobeSt.com. According to the SEC filing, the deal was pulled the day before, the last day for Walton to pull out and get its earnest money back. Ironically, the tentative buyer had rolled in the 16-story, 343,664-sf Austin Centre at 701 Brazos St. in the state capital's CBD to the deal just one week earlier, adding $75.5 million to the offer.
Due to the holiday and timing of the SEC filing, dealmakers couldn't be reached for comment. Had the deal crossed the closing table, Crescent stood to gross nearly $585 million from the sale of its business hotels, resorts and the Austin Centre office building. The resort portfolio spanned seven well-known properties, with 1,854 keys in California, Colorado and Texas.
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