Crescent Resources Opens Circle West Campus

AUSTIN, Texas, Aug. 9, 2012 /PRNewswire/ -- Crescent Resources, LLC will hold a ribbon-cutting to mark the opening of Circle West Campus at the intersection of West 25 ^th and Longview Streets by the University of Texas today. The new student apartment community is 99.6 percent leased, and more than 300 students have already moved in for the fall semester.

"Students are obviously embracing the unique student-living experience that is Circle West Campus," said Brian Natwick, president of the multifamily division of Crescent Resources.

"We're excited about delivering our innovative brand of apartment living to University of Texas students. The irreplaceable location and community's uncommon amenities provide a great environment for both study and recreation."

Circle communities feature environmentally conscious design and materials as well as upscale amenities for residents. The 167-unit community features a mix of studios, one-, two-, and four-bedroom apartments, with a total of 476 beds. Individual apartments include Energy Star appliances.

The 1.6-acre property is within walking distance of the University of Texas, giving students an opportunity to live close to school, employment centers, dining, shopping and recreational destinations.

Circle West Campus has a resort-style pool, tanning beds, and a community study café and lounge. The recreation room includes televisions and the latest interactive gaming systems, a pool table and a poker table. Student residents have access to covered parking and a community grilling area.

Circle West Campus was designed and built to meet the requirements of the Austin Energy Green Building Multifamily rating. The architect was Kelly Grossman Architects, LLC of Austin. The general contractor was Rampart Construction of Austin and Grapevine, Texas, and the civil engineer was Bury+Partners, Inc. of Austin.

Circle West Campus was financed by an equity investment from Crescent Resources, mezzanine financing provided by Transwestern Mezzanine Realty Partners III, LLC, and a construction loan from Capital One Bank. The Dallas office of HFF, LP advised Crescent in their financing efforts.

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