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| Kristi Leonard |
DALLAS, TX –– JLL Capital
Markets has arranged financing for the development of The QUAD, an
exciting mixed-use development totaling more than 487,000 square feet of office
and retail in the heart of Uptown Dallas.
JLL
worked on behalf of the borrower, Stream Realty Partners, to secure the
construction loan through MSD Partners, L.P.
 |
| Colby Mueck |
The
JLL Capital Markets team representing the borrower was led by Senior Managing
Directors Colby Mueck and Jim Curtin, Managing Director De’On
Collins and analysts Rex Cruz and Kristi Leonard.
Stream
acquired the 3.8-acre site in 2019 and has secured approvals to accommodate
additional height and density requirements.
As such, the redevelopment will
include the existing 131,000-square-foot office building alongside a brand new
335,000-square-foot creative office tower and five standalone retail bungalows
totaling 14,800 square feet that will work together in concert to create a
highly amenitized urban core destination.
Boasting
a 90+ WalkScore, The QUAD has an unrivaled Uptown location between Cedar
Springs Rd. and McKinney Ave. and is within walking distance to more than 150
restaurants and bars, 25,000 multi-housing units, performing arts venues and
urban green spaces such as Klyde Warren Park and the Katy Trail.
 |
| Jim Curtin |
Planted among a strong and growing
demographic base, The QUAD provides an opportunity for office and retail
tenants alike to cement themselves in a location that has proven valuable to a
desired demographic base.
The project’s cutting edge
smart tech and world class digital art installation, along with its location,
will serve as a marketing tool for office tenants to assist in the recruitment
and motivation of the nation’s top talent while generating daily activation for
the retail tenants.
For
the second consecutive year in a row, Dallas has been ranked the number one
market for commercial real estate by Real Capital Analytics.
Dallas has witnessed a 22% population growth from 2010 – 2020,
outpacing the U.S. average three times and continues to see roughly 400
residents per day move to the Dallas Fort Worth metroplex.
 |
| De’On Collins |
In addition, the city has seen more than 144 corporate
headquarters relocations in that same timeframe and there is strong job growth
predicted through 2023 and beyond.
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
The
firm has more than 3,000 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on
JLL, please visit our newsroom.
About Stream Realty Partners LP
Stream Realty Partners (Stream) is a national
real estate services, development, and investment company. To learn more about
Stream, please visit: streamrealty.com.
 |
| Rex Cruz |
About MSD Partners
MSD Partners, L.P. is a leading investment firm
focused on maximizing long-term capital appreciation across its core areas of
investing expertise – Credit, Growth, Private Capital and Real Estate.
The Firm
deploys capital on behalf of Dell Technologies founder and CEO Michael Dell and
his family, as well as other like-minded, long-term-oriented investors.
MSD
Partners operates from offices in New York, Santa Monica and West Palm Beach.
For further information, please visit msdpartners.com.
Contact:
Kristen
Murphy
JLL
Senior Manager
Public Relations
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com
jll.com.
