MetLife Investment Management and Trammell Crow Co. obtained a loan for their 504,750-square-foot PwC Tower in uptown Dallas. The 10-year financing from Barings Real Estate includes a fixed rate.
The debt will retire an existing $141.4 million loan from JPMorgan Chase, taken out in 2018 and set to mature at the end of the year, CommercialEdge data shows.
Located at 2121 N. Pearl St., the LEED Gold certified building was completed in 2018 and features a fitness center, outdoor green space and outdoor tenant balconies. Anchored by PricewaterhouseCoopers, the asset’s tenant roster includes Winston & Strawn, Industrious and Caldwell Cassady & Curry.
The tower is part of the 916,000-square-foot Park District, a mixed-use development that includes a 34-story apartment high-rise, 20,406 square feet of retail space and restaurants, performing arts spaces, as well as urban green space. The development has direct access to major thoroughfares including interstates 35, 45 and 30, U.S. 75 and Dallas North Tollway.
JLL Senior Managing Director Jim Curtin worked on behalf of the borrower.