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

CHARLOTTE, N.C., Oct. 02, 2017 -- 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 $20 million in aggregate principal amount of their 8.875% Senior Secured Notes due 2021 (the “Notes”). The redemption represents 5% 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 company specializing in the development and sale of single family, multifamily and commercial / mixed-use communities. The Company delivers high-quality, differentiated communities in desirable locations in many of the fastest growing markets in the Southeast and Southwest. Since inception in 1963, Crescent Communities has developed more than 60 single family master-planned communities, over 30 multifamily communities and approximately 20 million square feet of commercial space.

FOR INFORMATION CONTACT: 
Connie B. Breedlove 
404-786-5275