JLL Capital Markets has arranged acquisition financing for 2801 NCX, a Class-AA office building totaling 240,000 square feet in the West Village subsection of Uptown in Dallas, Texas.
JLL worked on behalf of the borrower, OliveMill Holdings and Hunt Realty Investments in a partnership with Angelo Gordon, to secure the five-year, floating-rate loan with a fund managed by AllianceBernstein.
2801 NCX is located in the Uptown District, which is a vibrant mixed-use neighborhood offering high-end residential developments, top entertainment destinations, fine dining options and luxury hotel accommodations. The population in the immediate area has grown more than 40% since 2010 and is projected to continue as residents and companies migrate to Dallas for low-cost business and living costs. The property benefits from a highly amenitized location surrounded by the city’s most prominent employment centers, leading demographics, and a walkable environment within Uptown’s West Village district. 2801 NCX also has a best-in-market signage opportunity due to its extreme visibility from North Central Expressway.
Completed in 2015, 2801 NCX offers 12 floors of office space that is fully leased to a Dallas-based advertising agency. The property features an on-site fitness center, 11th floor outdoor space offering views of Uptown and a 609-space parking garage.
The JLL Capital Markets team representing the borrower consisted of Senior Managing Director Jim Curtin, Senior Director Kris Lowe, Vice President Rex Cruz and Analyst Ryan Pollack.