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Crescent Real Estate pays $125M for Denver hotel complex

Asset manager Crescent Real Estate LLC acquired the Brown Palace hotel complex at 321 17th St. in Denver for $125 million, the Denver Business Journal reported, citing deed records.

The property comprises a 126-year-old hotel and the adjacent Holiday Inn Express, which will be managed by HEI Hotels & Resorts.

Dallas-based Crow Holdings, through a Delaware-based LLC, is the seller, according to the publication.