Zeller Uses $62 Million Loan to Acquire High-End Dallas Office

Rubenstein Mortgage Capital (RMC) originated a $62 million first mortgage loan for the acquisition of 3400 at CityLine, a five-story, 312,345 square-foot, premier Class-A office building built in 2018. The property, located in Richardson, is currently 83% leased with a weighted average lease term of 8.7 years.

RMC provided the borrower, an affiliate of Zeller Realty Group, with an initial funding of $57 million at closing and up to approximately $5 million of additional funding for future leasing costs. The transaction was originated by RMC’s Andrew Murray, “3400 at CityLine is an attractive core+ acquisition financing for RMC…3400 at CityLine offers the highest quality office facilities in the Richardson submarket of North Dallas.”

3400 at CityLine is a five-story office building with 1,400 parking spaces in an attached four -story parking garage plus surface parking. The building amenities include a newly designed conference center and lounge, a fully equipped fitness center, and an outdoor entertainment area.