Crescent Communities Completes Partial Redemption of 8.875% Senior Secured Notes Due 2021

06/01/2018

CHARLOTTE, N.C. – June 1, 2018 – Crescent Communities, LLC (the “Company”) and Crescent Ventures, Inc., a wholly owned subsidiary of the Company (together, the “Issuers”), today announced that the Issuers have completed the previously announced redemption of $40 million in aggregate principal amount of their 8.875% Senior Secured Notes due 2021 (the “Notes”).  The redemption represents 10% of the initial aggregate principal amount of the Notes.
 
This press release is for informational purposes only and shall not constitute a notice of redemption under the optional redemption provisions of the indenture governing the Notes, nor shall it constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any offer, solicitation or sale of the Notes or any other securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Crescent Communities

Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of multifamily, commercial and mixed use communities. Crescent creates high-quality, differentiated communities in desirable locations in many of the fastest growing markets in the Southeast and Southwest. Since the company was founded in 1963, Crescent’s development portfolio has included more than 60 single family master-planned communities,  43 multifamily communities and more than 21 million square feet of commercial space. Its multifamily communities are branded NOVEL by Crescent Communities.