An affiliate of Zeller Realty Group has announced the approval of a $62 million first mortgage loan for the acquisition of 3400 at CityLine, a 312,345-square-foot, premier class A office building built in 2018, located in the Richardson, Texas, submarket of Dallas.
Rubenstein Mortgage Capital provided the borrower with an initial funding of $57 million at closing and up to approximately $5 million of additional funding for future leasing costs. Zeller is a privately held commercial real estate investment and development firm headquartered in Chicago.
Originally built in 2018, 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. The property is currently 83 percent leased with a weighted average lease term of approximately eight and a half yea
