JLL Secures $290M Construction Loan for Dallas Office Highrise

Pacific Elm Properties obtained a $290 million construction loan to begin construction on Parkside Uptown, a 500,000-square-foot office tower in Uptown Dallas. JLL secured the four-year, floating-rate loan from the Real Estate group within Goldman Sachs Alternatives. 

Due for completion in 2027, Parkside Uptown will stand 30 stories tall and offer amenities that include a sky lobby and lounge, outdoor tenant terraces, fitness facilities and ground-floor retail. Bank of America had pre-leased 49% of the space as of the loan closing. Parkside Uptown is located at the corner of Harwood Street and Woodall Rogers Freeway in the heart of Uptown Dallas.

According to JLL Research, highly amenitized buildings are expanding their outperformance against the broader market, with certain amenities, such as roof terraces or outdoor seating, driving the highest rent premiums. 

The JLL Capital Markets Debt Advisory team was led by Executive Managing Director Trey Morsbach, Senior Managing Directors Jim Curtin and Michael Cosby and Managing Director Greg Napper.

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