Acquisition financing secured for Class AA office in Dallas’ Uptown District
JLL Capital Markets led financing efforts for 2801 NCX amid growing demand for Dallas office space
DALLAS, Feb. 22, 2022 – JLL Capital Markets announced today that it 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 uniquely 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, state-of-the-art 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.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About OliveMIll Holdings
OliveMill Holdings is a Dallas-based commercial real estate investment firm established in 2021. The OliveMill team has over 35-years of combined commercial real estate experience in acquisitions, asset and property management, leasing, and build-to-suit development. OliveMill’s focus is to acquire well-located office assets with long-term viability and operate with best-in-class service and management. For more information, please visit: olivemillholdings.com.