(Read more on the debt and equitymarkets.)

FORT WORTH-With Crescent firmly rootedin Morgan Stanley Real Estate Funds, co-founder John Goff hasstepped down as CEO of the merged operation in search of a newadventure. The next journey draws on his past, with investmentscoming in commercial- and residential mortgage-backed securities,stocks and bonds, private equity and real estate.

Goff maintained three primary businesses during his tenure atCrescent: Goff Capital Partners, Goff Capital and GoffFoundation--and all are playing a significant role in his future."It will be a very measured approach to what I think are smartdeals, both in real estate and out of real estate," he tellsGlobeSt.com.

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