JLL completes sale, financing of One Glen Lakes in Dallas
Class A office building adjacent to Texas Health Presbyterian Hospital campus
DALLAS, March 25, 2020 – JLL Capital Markets announced today that it has closed the sale and financing of One Glen Lakes, a 168,953-square-foot, multi-tenant, Class A office building in Dallas, Texas.
JLL represented the seller, a joint venture between Stockbridge and Cawley Partners, and procured the five-year, floating-rate structured loan with future funding for Capex and TI/LC on behalf of the buyer, ICM Asset Management.
One Glen Lakes is located at 8140 Walnut Hill Lane just west of the Texas Health Presbyterian Hospital campus in North Dallas. The property is situated just one block from the North Central Expressway and close to the LBJ Freeway providing superior access to the entire Dallas Fort Worth Metroplex. Additionally, One Glen Lakes is within walking distance of the Walnut Hill DART Station and the Dart Rail Bus Station and is surrounded by affluent neighborhoods and plentiful retail amenities. The 10-story building offers tenants an on-site deli, convenience store, on-site banking and covered parking.
The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Managing Director Jack Crews.
JLL’s Capital Markets Debt Placement team representing the borrower was led by Managing Director Jason Piering.
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 best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
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 $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Stockbridge (stockbridge.com) is a real estate investment management firm headquartered in San Francisco, California, with offices in Atlanta and Chicago. The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of December 31, 2019, the firm’s total assets under management totaled approximately $16.3 billion.
About Cawley Partners
Cawley Partners is a full-service Dallas based commercial real estate company focused on building partnerships through developing, investing, managing and leasing office buildings. Since 1996, the Company has experience with more than 12 million square feet of development and acquisition projects. The developments include office, retail, and industrial and have ranged from speculative to build-to-suit corporate headquarters. For more information please visit cawleypartners.com.
About ICM Asset Management
ICM Asset Management is an alternative asset manager focused on owning, operating and investing in real assets. We offer retail, private client and institutional investors an array of investment opportunities focused on real estate, private equity, private debt and infrastructure strategies. We are headquartered in Calgary and have offices in Atlanta, Munich and Mexico City. ICM Investment Management, a wholly-owned subsidiary of ICM Asset Management, is a registered investment fund manager (IFM) and portfolio manager (PM) with provincial securities regulators across Canada. Learn more at icmassetmanagement.com.