Excel Performance Medical Center, LLC renewed 2,195 square feet at 12850 Hillcrest Rd in Dallas, TX. Lynna Smith represented the landlord, Hartman Income REIT.

PGIM Real Estate has provided $250 million in fixed-rate debt to GLP Capital Partners LP for the financing of a five-state, five-property core logistics portfolio across Atlanta, Dallas-Fort Worth, Chicago, Memphis and California’s Central Valley.

All five of the properties were acquired on behalf of GLP Capital Partners IV, a closed-end, discretionary private equity fund. The portfolio is fully leased to four nationally recognized companies, all of which are investment-grade credit tenants.

The properties, totaling 3.2 million square feet, are located within an average of one mile from each region’s primary transportation arteries, enabling tenants to efficiently service their customers, businesses and supply chains with same-day and next-day delivery.

JLL Capital Markets announced today that it has arranged an acquisition loan for Alexan on Ross, a 292-unit, luxury, mid-rise, Class A+ multi-housing community in the growing Ross Corridor Dallas, Texas.

JLL worked on behalf of the borrower, Internacional, to place the 10-year fixed-rate loan with a Northwestern Mutual.

Alexan on Ross was completed in 2018 and is a highly amenitized property that includes a fitness center with strength training and cardio equipment, resort-style pool with cabanas, resident lounges and outdoor skyline terrace. The mix of studio and one- and two-bedroom units average 877 feet, which is the largest average unit side in the Ross Corridor. Units also feature stainless steel appliances; 10-foot ceilings; granite or quartz countertops; USB outlets; wireless built-in speakers; cabinetry with undermount lighting; full size washers and dryers; luxury spa shower and tub combinations; custom closets; and plank flooring.

The property is located at 4001 Ross Ave. in Dallas’ Ross Corridor, which is a trendy and rapidly transforming urban neighborhood minutes from both Downtown and Uptown Dallas. With a Walk Score® of 82, the “very walkable” area is surrounded by galleries, restaurants and bars and entertainment options. This high barriers-to-entry market has a limited supply of multi-housing properties and houses an affluent renter-by-choice demographic.

The JLL Capital Markets debt team that represented the borrower was led by Senior Managing Director Mark Brandenburg and Associate Chad Russell.

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.

Savills arranged a multiyear lease transaction on behalf of client Steptoe & Johnson PLLC. The law firm will occupy approximately 14,000 square feet on the 32nd floor of Ross Tower, located at 500 North Akard Street in downtown Dallas.

Steptoe & Johnson is currently in a strategic expansion mode, and the award-winning law firm is growing many existing offices and boosting its presence nationally including throughout North Texas. Steptoe & Johnson is a longtime client of Savills Managing Director Corporate Lesa Nickelson French and Managing Director Ric Kanatzar, who represented the law firm in its search.

“Steptoe & Johnson is quickly expanding, and for its first Dallas office, it sought a centrally located building that offered the flexibility for future growth,” said Nickelson French. “Ross Tower was selected as it provides the firm opportunities to create an effective office environment and modern workplace, cultivate the firm’s culture, and safely meet and interact with clients, all within the heart of downtown Dallas.”

Ross Tower is a 45-story, Class A office tower ideally situated in the Dallas Art District. The tower recently completed a multimillion-dollar renovation of its lower concourse, including upgrading its two-story lobby, tenant lounge, and conferencing center. The building is near numerous restaurants, high-end hotels, and prominent recreational and cultural attractions such as Uptown and Klyde Warren Park.

Gensler will oversee the office’s design, and the location is slated to open in the first quarter of 2022. Ross Tower was represented by Hunter Lee, Ben Cuzen, and Luke Aviles of HPI Real Estate.

“We are pleased to welcome Steptoe & Johnson to the building and look forward to being a part of its continued growth in Dallas,” said Aviles. “The walkability and extensive amenity base of Ross Tower will serve as an ideal location for the firm.”

Steptoe & Johnson PLLC is a law firm nationally recognized for its strengths in energy law with more than a century of know-how in the areas of business, labor and employment, and litigation. Steptoe & Johnson has over 370 lawyers and other professionals practicing in 18 offices in Colorado, Kentucky, Ohio, Pennsylvania, Texas, and West Virginia.

S2 Capital completed the purchase of four contiguous class-A multifamily properties from JLB Partners in Dallas this week. The acquisition, totaling a combined 1,235 units, is part of the company’s larger plan of acquiring high-end multifamily assets throughout DFW and the surrounding MSAs.

NorthMarq’s Dallas investment sales team of Taylor Snoddy, managing director, James Roberts, senior vice president and Phillip Wiegand, senior vice president brokered the sale.

“JLB built a great community, and we jumped at the opportunity to own these assets,” said Scott Everett, Founder and CEO of S2 Capital. “We are very excited to partner with Pennybacker Capital in such a great location for our 28th deal together, and are big believers in Dallas long term.”

Pennybacker Capital is a long-term equity partner with S2.

“These trophy assets have an irreplaceable location within Dallas,” Roberts said. “The seller did a great job in developing a truly unique 1,235-unit community. This was a good fit for the buyer as they continue to add more class-A assets to their extensive portfolio.”

The portfolio is comprised of:

· The Ash at the Branch: The 402-unit multifamily property is located at 4646 Amesbury Drive in Dallas, Texas. It was constructed in 2017.

· Cedar at the Branch: The 321-unit multifamily property is located at 4606 Amesbury Drive in Dallas, Texas. It was constructed in 2020.

· Live Oaks at the Branch: The 196-unit multifamily property is located at 4670 Amesbury Drive in Dallas, Texas. It was constructed in 2014.

· Teak at the Branch: The 316-unit multifamily property is located at 4601 Amesbury Drive in Dallas, Texas. It was constructed in 2015.

This portfolio is well-positioned in one of the most exciting areas that Dallas has to offer. It is located next to some of the best restaurants and most desirable neighborhoods in Dallas, including to Highland Park, Greenville, Knox Henderson, and Uptown. Residents will also have direct access to a 30+ mile trail system and the Dallas CBD is less than a 15-minute drive away.

These beautiful class A apartments also offer high-end interior finishes including with granite and quartz countertops, hardwood floors, stainless steel energy-efficient appliances, and custom cabinetry with glass front displays.

The transaction marks nearly $2 billion in closings between NorthMarq and S2 Capital, including the sale of six properties totaling more than 2,000 units in the Dallas and Fort Worth MSA’s. This market, according the NorthMarq’s Q2 DFW Multifamily Market Report, continues to lead the country in multifamily transaction activity. Strengthening property fundamentals supported a 30 percent spike in sales velocity during the second quarter, with transactions occurring throughout nearly every submarket. This trend is expected to continue, with investor appetites for area multifamily assets forecasted to remain elevated, supporting further sales velocity. NorthMarq’s Dallas Debt/Equity team of Jeffrey Erxleben, executive vice president/executive managing director, Lauren Bresky, senior vice president, and Loren Hiekenfeld, vice president, arranged acquisition financing for the properties through its relationship with a debt fund. The transaction was structured with a three-year, interest-only term. “NorthMarq explored multiple options including debt funds and bridge-to-SASB,” Erxleben said. ‘Ultimately the borrower elected to go with a debt fund we sourced, as they offered the best combination of proceeds and rate among the debt funds.”