Acore Capital Provides $125 Million Loan for Plano Office Tower
Acore Capital made the loan for the 23-story Ryan Tower under construction near the southwest corner of the Dallas North Tollway and State Highway 121. The 400,000 square foot office tower is being built in the Legacy West Development.
The tower will be home to tax services firm Ryan LLC, who is moving its headquarters from the Dallas Galleria to the new building when it opens in 2024. Ryan expects to occupy half of the building.
Acore Capital’s Kyle Jeffers believes a number a favorable market conditions limit the risk, “The Dallas market has experienced a strong increase in population with many leading companies moving there, making it a good investment market. That, along with excellent sponsorship and a 50% pre-leased building, gave us great confidence in making this construction loan.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.