A forthcoming 500,000-square-foot office project in Uptown Dallas has received a $290 million construction loan.
The capital markets team at Chicago-based commercial real estate services firm JLL arranged a four-year, floating-rate loan from Goldman Sachs Alternatives’ real estate group on behalf of developer Pacific Elm Properties for Parkside Uptown.
Standing at 30 stories overlooking Klyde Warren Park, the class AA office building is expected to be completed in 2027.
Nearly half of the building, located at the corner of Harwood Street and Woodall Rodgers Freeway, has been pre-leased to Charlotte financial institution Bank of America.
The JLL team behind the construction loan included Trey Morsbach, Jim Curtin, Michael Cosby and Greg Napper.
Pacific Elm, headed by investor Tom Dundon and CEO Jonas Woods, is developing the property alongside Dallas developer KDC and property owner Miyama USA Texas.
New York-based architect Kohn Pedersen Fox Associates is designing the building working with Dallas-based Corgan. OJB Landscape Architecture is also involved in the project.
Amenity highlights of the building include a 12th-floor “sky lobby and lounge,” outdoor terraces on four floors and ground-level retail spaces.
Bank of America will depart its longtime downtown home at its namesake 72-story tower on Main Street for the new…
