Ares Real Estate And Northwood Investors Secure $129.8 Million Loan For The Shops At Park Lane

The Shops at Park Lane is a mixed-use property located at 8080 Park Lane in Dallas, TX, encompassing a total area of 667,311 square feet. The property was acquired with the support of a $129,800,000 loan aimed at financing a majority stake in the asset.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $129,800,000
• Loan Type: Acquisition
• Loan Terms: five-year
• Lender: Standard Chartered
• Landlord: Michael Arougheti - Ares Real Estate; John Kukral - Northwood Investors

This transaction involves Ares Real Estate and Northwood Investors forming a new joint venture, with Northwood Retail continuing to manage operations at the property following the acquisition. The deal represents a significant collaboration within the Dallas market, highlighting the involvement of experienced firms in the real estate sector.