JLL arranges $596M refinancing for The Crescent in Uptown Dallas

The Crescent is one of Dallas' most iconic real estate landmarks, consisting of The Cresent office towers, which are three world-class office towers with ground floor retail totaling 1,206,239 square feet and the atrium building, a 167,510-square-foot, three-story building that is home to some of the top luxury retailers and restaurants in the city. Originally built in the 1980's, The Crescent has been substantially renovated in the last five years and is surrounded by quality amenities, including the Hotel Crescent Court and The Spa at The Crescent, a full-service fitness center, eleven restaurants, luxury shopping, an art gallery and two salons.

Commonly referred to as "The Wall Street of Dallas", The Crescent is 90% leased to top tenants such as Jeffries, BankUnited, BMO Harris Bank, Wells Fargo, PNC Bank, Raymond James, UBS and more.

The property sits in the heart of Uptown Dallas at 100, 200, 300 and 500 Crescent Court. Uptown has flourished over the last four decades into the highest performing submarket in Dallas, surrounded by Dallas' most densely populated and affluent neighborhoods, including Highland Park, University Park, Lakewood and Preston Hollow. The submarket has seen tremendous rent growth of 57.1% since 2014, which will continue as the scarcity of Tier 1 office product accelerates.

JLL's Capital Markets Debt Advisory team representing the borrower was led by Executive Managing Director Trey Morsbach, Senior Managing Director Jim Curtin and Director Christopher Pratt.

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The team's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL's Capital Markets group has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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About Crescent Real Estate LLC
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion.  Through the GP Invitation Funds, Crescent acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent's premier real estate portfolio consists of Class A, creative office and life sciences, multifamily, hospitality, industrial, and senior living assets located throughout the U.S., including The Ritz-Carlton, Dallas. For more information, visit www.crescent.com. 

About JLL 
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Contact: Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 543 4873  
Email: kristen.murphy@jll.com

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SOURCE JLL