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FtWorthInsider, August 24, 2007
Posted August 24, 2007
Posted August 25, 2007
Ft. Worth's Ken Schaumburg and his "Left Bank" land assemblage sold to N3 Capital of Ft. Worth. The word on the street is the N3 Capital and its cronies pulled off the most prized deal of the year. I wonder if the papers will pick it up this weekend.
Posted August 26, 2007
Yea, I heard that this acquisition is true and that it was between 80 and 82 million. Fort Worth is OFFICIALLY on the MAP!
I heard the same thing. I understand Jerry Crenshaw (the ex-CFO of Crescent Real Estate) orchastrated the entire deal and is leading the N3 group which are planning a $3.5 billion dollar upscale development. It will be interesting to see when the offical announcement will be. I am excited for Fort Worth.
I don't think Dallas will not be able to compete with Fort Worth ever now. This development will one of the best in the United States. This is going to create so many jobs and can only be good for the city. I think the dirty shadow of Dallas Fort Worth has had for such a long time is finally over. From many I spoken to yesterday in the industry, the deal closed last week and this has been in the works for some time. N3 Capital and Jerry Crenshaw somehow some way kept Ken Schaumburg's big mouth closed before it closed. Many people have told me that Ken Schaumburg is extremely talented but can't keep quite. His development downtown next to the Bass Hall is without question a woman's sanctuary. I dream to have a place there. It's the best in the metroplex.
After hearing from members involved in the Art District developments that Lehman Brothers has been involved from the beginning of the year it all makes since. I was told which makes me believe that not only is it true but with the high profile of ex-CEO of Crescent Real Estate, Jerry Crenshaw at the helm and his connections to Lehman Brothers, which he brought in to help finance the deal makes me believe it could be bigger than the rumor I heard of $3.5 billion. Some people tell me it could end up being $5 billion when its complete. Having only lived in Ft. Worth for 3 years and coming from India, the people around me tell me this is going to be bigger than I can imagine. I can't wait to see what Jerry Crenshaw's leadership and Ken Schaumburgs's talent mixed with Lehman Brothers money are going to create. Does anyone have any idea what they are proposing to build there?
I am happy to have moved to Ft. Worth. I believe the city is going to be without question the place to live and work.
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