JLL Capital Markets announced today it secured the $227 million refinancing for The Union, an iconic mixed-use development within the Uptown submarket of Dallas, Texas.
JLL worked on behalf of a joint venture between KB Asset Management Co., Ltd. and RED Development to secure the two-year loan with three one-year extension options with Goldman Sachs.
The property consists of The Union’s office and retail components, totaling 505,994 square feet, which are 98% leased. The 21-story office tower, completed in 2018, includes nine levels of garage parking and market-leading amenities, including a greenspace amenity deck with entertainment space, a tenant lounge, a fully equipped conference center and a state-of-the-art fitness facility with locker rooms. Additionally, the office tower is leased to a collection of investment-worthy tenants, including Salesforce, Invesco, Akin Gump and Weaver.
The retail space at The Union Dallas is anchored by a Tom Thumb grocery store and the first and only locations in Dallas for Fox Restaurant Concepts The Henry and North Italia.
Located in the heart of Uptown, The Union offers easy access to Victory Park, Harwood District and Downtown. The property also boasts excellent connectivity via Woodall Rogers Freeway, McKinney Avenue Trolley and DART Rail station.
The JLL Debt Advisory team was led by Senior Managing Director Jim Curtin, Managing Director Greg Napper and Vice President Rex Cruz.
