CRT III 2000 – 2005

In early 2000, CRT Properties, Inc. (CRT III), formerly Koger Equity, hired the current Crocker executive team to reposition and grow the company. Management changed the complexion of this long-time REIT by disposing of over $300 Million of  Class B office products located in tertiary markets throughout the Southeast and Southwest, and replaced them with Class A office buildings located within primary markets that garnered significant institutional investor interest. Under the Partners’ management, CRT III purchased 4.8 million sq. ft. of assets for $720 million in 13 transactions and raised $300 million in equity in public offerings. In September 2005, management elected to sell CRT III for approximately $1.8 billion to a private equity fund.