The talks are focusing on a restructuring that officials are optimistic will be worked out by the end of first quarter 2001. Through the act, Crescent Real Estate Equities Company, through its subsidiaries, can own and operate certain residential development corporations and operate certain hotel/resort properties currently owned and/or operated by the company.
The Crescent Operating portfolio consists of six full-service hotels and two destination health and fitness resorts. It also has an interest in a temperature-controlled logistics operating company, three real estate developments and an equipment sales and leasing business.
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