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JLL Arranges $596M Refi for The Crescent
JLL’s Capital Markets group arranged a $596 million refinancing for the office towers and atrium building at The Crescent, a mixed-use property totaling 1.3 million square feet in the heart of Uptown Dallas.
JLL worked on behalf of Crescent Real Estate to secure the three-year, floating-rate CMBS loan through Goldman Sachs and J.P. Morgan.
The Crescent consists of The Crescent office towers, which are three office towers with ground floor retail totaling 1,206,239 square feet and the atrium building, a 167,510-square-foot, three-story building that is home to some of the top luxury retailers and restaurants in the city.
Originally built in the 1980s, The Crescent has been substantially renovated in the last five years.
The Crescent is 90% leased to tenants such as Jeffries, BankUnited, BMO Harris Bank, Wells Fargo, PNC Bank, Raymond James, and UBS.
JLL’s Capital Markets Debt Advisory team, representing the borrower, was led by Trey Morsbach, Senior, Jim Curtin, and Christopher Pratt.
- ◦Financing
