In 2021, Alvarez & Marsal Capital Real Estate acquired SMU’s Plano satellite campus with the intention of transforming the four-building site into a versatile office complex for various tenants, such as those in creative industries, life sciences, technology and education.
Construction on this project began in 2023 and is expected to be completed by April. The newly named “Elevar” will span over 16 acres and feature amenities such as a bistro lounge with grab-and-go food options, a fitness center and conference space, a dog park, jogging trail, food truck court,putting green,fires pits,sports court,and outdoor plaza spanning over 50,o00 square feet.
According to reports from the Dallas Business Journal,the company plans to invest $20.5 million into renovating the campus. Additionally,the firm may receive up to $1.9 million through a City of Plano modernization program.
Alvarez & Marsal currently has approximately 7,o00 employees spread across their global network of offices which totals at least sixty-six locations worldwide.Their latest venture marks another milestone for their expanding portfolio.
