Dallas Tower Secures $406M Loan, Market briefs

In Dallas, Regent Properties has secured a $406 million loan to refinance Trammell Crow Center, a trophy office tower rising 50 stories tall in the Dallas Arts District.

JLL Capital Markets arranged a $406 million CMBS loan through Wells Fargo and Morgan Stanley on behalf of Regent Properties. The fixed-rate, single-asset single-borrower loan has a five-year term.

The 1.2 million-SF building, which overlooks Klyde Warren Park and the Nasher Sculpture Center, is 92% leased. Tenants include Goldman Sachs, Baker & Botts, Vinson & Elkins, Orix, and Prudential.

Stream Realty Partners is headquartered in the building and also provides office leasing services for the landlord.

Opened in 1985, the 50-story tower at 2001 Ross Ave. was originally designed by Skidmore, Owings and Merrill and later updated by HOK.

The previous ownership group completed a transformative $182 million renovation in 2019, including a new parking garage and 27,000 SF of ground floor retail, a lobby renovation. Amenities include the TCC Athletic Club, conference center, outdoor pavilion, and on-site dining.

In Houston, Regent Properties recently sold the Park Towers office buildings on Loop 610 near The Galleria to Interra Capital.

The JLL Capital Markets’ Debt Advisory team representing Regent Properties was led by Managing Director Greg Napper and Associates Jordan Buck and Rett Daugbjerg.