Pacific Elm Properties Secures $290M Construction Loan For Parkside Uptown Dallas | 1919 Woodall Rodgers Freeway | Trey Morsbach, Michael Cosby, Jim Curtin, Gregory Napper | Office | Loan

Summary

Loan

TEXAS

Office

500,000 sqft

Located at 1919 Woodall Rodgers Freeway in Dallas, the property in question is a 500,000-square-foot office tower known as Parkside Uptown. The construction of this tower is being financed through a $290 million construction loan provided by Goldman Sachs.

Summary of transaction details:

Property Type: Office
Transaction Amount: $290,000,000
Market: Dallas
Address: 1919 Woodall Rodgers Freeway
Lender: Goldman Sachs
Landlord: Jonas Woods - Pacific Elm Properties

The deal was facilitated by JLL, with Gregory Napper, Jim Curtin, Michael Cosby, and Trey Morsbach acting as brokers representing the parties involved in the transaction. Parkside Uptown, upon completion in 2027, will offer amenities such as a sky lobby, outdoor terraces, fitness facilities, and retail space. Notably, Bank of America has already signed a lease for 49% of the available space in the 30-story office tower.

Players

All
5

Agents
4
Agencies
1

Trey Morsbach

Executive Managing Director, Dallas Office Co-Head

Michael Cosby

Senior Director

Jim Curtin

Senior Managing Director, Equity Advisory Platform Leader

$114.3M Sold

Gregory Napper

Managing Director

JLL

Details

Deal Summary

FINANCED

IMAGE: Jonas Woods, Gregory Napper, Jim Curtin, Michael Cosby & Trey Morsbach DATE: 04/16/2024 ADDRESS: 1919 Woodall Rodgers Freeway MARKET: Dallas ASSET TYPE: Office ~ SF: 500,000 LENDER: Goldman Sachs (@GoldmanSachs) LANDLORD: Jonas Woods - Pacific Elm Properties BROKERS: Gregory Napper, Jim Curtin, Michael Cosby & Trey Morsbach - JLL (@JLL) LOAN AMOUNT: $290,000,000 LOAN TYPE: Construction Loan LOAN TERMS: four-year, floating-rate NOTE: Pacific Elm Properties secured a $290 million construction loan from Goldman Sachs Alternatives' Real Estate group, facilitated by JLL, to commence construction on Parkside Uptown, a 500,000-square-foot office tower in Uptown Dallas. With completion slated for 2027, the 30-story tower will offer amenities like a sky lobby, outdoor terraces, fitness facilities, and retail space, with Bank of America already leasing 49% of the available space.

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Address1919 Woodall Rodgers Freeway

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