Trademark Property Co. has completed a refinancing of Westbend, its mixed-use campus in Fort Worth, with a new $55 million loan. The financing was provided by PGIM on a seven-year term and is being used to retire an existing loan of the same amount that JP Morgan originated in 2016. The transaction keeps long-term debt in place on the 281,000-square-foot property, which combines office and retail uses.
Westbend is anchored by River Plaza Tower, an 11-story office and retail building that originally opened in the early 1980s. Trademark repositioned this tower as part of a broader mixed-use initiative launched in 2015. As part of that effort, the company added a new low-rise structure totaling 81,150 square feet and removed an existing parking garage on the site, reshaping the campus layout and expanding its leasable area.
The property continues to evolve with an additional residential component currently under construction. While specific details on the new residential building were not disclosed, the project marks another phase in Westbend’s transition from a single office building into a larger mixed-use environment. The existing buildings on the campus today house a mix of office users and ground-floor retail tenants.
Leasing performance at Westbend is strong across both major uses. The retail portion of the campus is reported to be fully occupied, while the office space is 97 percent leased. Trademark maintains its headquarters at Westbend, underscoring the firm’s commitment to the campus as a long-term operating location. Other office tenants include ECapital Management and flexible office provider Regus, contributing to a diversified tenant mix.
The ground-floor retail lineup features several quick-service restaurant brands, including Shake Shack and Sweetgreen. These concepts support daytime traffic from the office population and draw additional visitors to the property. The combination of high occupancy in both the office and retail components and the ongoing residential development suggests that Westbend is positioned as an active mixed-use destination within Fort Worth.
By replacing its maturing 2016 loan with a new seven-year facility from PGIM, Trademark has locked in continued financing for Westbend while the campus remains largely leased and in the midst of further expansion. The refinancing underscores lender appetite for well-leased, mixed-use assets and provides Trademark with stability as it advances the next phase of the property’s evolution.
