A $290 million construction loan has been awarded to a 500,000-square-foot office project planned for Uptown Dallas.
The capital markets team at Chicago-based commercial real estate services firm JLL arranged a four-year, variable-rate loan from Goldman Sachs Alternatives’ real estate group for Parkside Uptown on behalf of developer Pacific Elm Properties.
The 30-story Class AA office building, overlooking Klyde Warren Park, is scheduled for completion in 2027.
Nearly half of the building, located at the corner of Harwood Street and Woodall Rogers Freeway, has been pre-leased to Charlotte financial institution Bank of America.
The JLL team behind the construction loan included Trey Mosbach, Jim Curtin, Michael Cosby and Greg Napper.
Pacific Elm, led by investor Tom Dundon and CEO Jonas Woods, is developing the property with Dallas developer KDC and property owner Miyama USA Texas Inc.
New York-based architects Kohn Pedersen Fox Associates are designing the building in collaboration with Dallas-based Kogan, and OJB Landscape Architecture is also involved in the project.
Amenity highlights of the building include a “sky lobby and lounge” on the 12th floor, an outdoor terrace on the fourth floor and retail space on the first floor.
Bank of America will leave its longtime home in the 72-story building of the same name on Main Street and move into the new development once it is complete.
