JLL’s Capital Markets group arranged a $596 million refinancing for the office towers and atrium building at The Crescent, a mixed-use property totaling 1.3 million square feet in the heart of Uptown Dallas.
JLL worked on behalf of Crescent Real Estate to secure the three-year, floating-rate CMBS loan through Goldman Sachs and J.P. Morgan.
The Crescent consists of three office towers with ground-floor retail totaling 1,206,239 square feet, as well as an atrium building, a 167,510-square-foot, three-story structure that is home to several of the city’s top luxury retailers and restaurants.
Originally built in the 1980s, The Crescent has been substantially renovated over the past five years.
The property is 90% leased to tenants including Jeffries, BankUnited, BMO Harris Bank, Wells Fargo, PNC Bank, Raymond James, and UBS.
JLL’s Capital Markets Debt Advisory team, representing the borrower, was led by Trey Morsbach, Senior, Jim Curtin, and Christopher Pratt.
