News release

Stream lands financing for new Dallas mixed-use development

JLL Capital Markets led the financing efforts for The QUAD, a dynamic office and retail development in Uptown Dallas

March 17, 2022

Kristen Murphy

Investor PR, Capital Markets, Hotels, Property Management
+1 617 848 1572

DALLAS – Mar. 17, 2022 – JLL Capital Markets announced today that it 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.

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. 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. 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.

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.

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 $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

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

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.