$290m construction financing secured for Dallas trophy office tower

Pacific Elm Properties has received a $290 million construction loan for Parkside Uptown, an approximately 500,000-square-foot, trophy class-A office tower being built in Uptown Dallas.

JLL worked on behalf of the developer, Pacific Elm Properties, to secure 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 and offer trophy office space and top-of-the-line amenities, including a sky lobby and lounge, outdoor tenant terraces, fitness facilities and ground-floor retail. Bank of America has pre-leased 49 percent of the space as of the time of loan closing.

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

Parkside Uptown is located at the corner of Harwood Street and Woodall Rogers Freeway in