KB Asset Management And RED Development Secure $227 Million Refinance For The Union In Dallas

The Union is a 505,994-square-foot mixed-use development situated in Dallas’s Uptown submarket, which is currently 98% leased. The property includes a 21-story office tower featuring notable tenants such as Salesforce and Invesco, alongside retail spaces anchored by a Tom Thumb grocery store and various restaurants from Fox Restaurant Concepts.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $227,000,000
• Lender: Goldman Sachs
• Landlord: KB Asset Management & RED Development
• Loan Type: Refinance
• Loan Terms: two-year loan with three one-year extension options
• Brokers: Gregory Napper, Jim Curtin & Rex Cruz - JLL

Gregory Napper, Jim Curtin, and Rex Cruz from JLL were involved in the refinancing deal for The Union. KB Asset Management and RED Development orchestrated the $227 million refinancing, reflecting their active role as landlords in the transaction.