{"id":1004550171,"date":"2021-09-09T05:04:09","date_gmt":"2021-09-09T13:04:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004550171"},"modified":"2022-12-08T19:30:47","modified_gmt":"2022-12-09T03:30:47","slug":"fortis-secures-188m-refi-for-dallas-chase-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fortis-secures-188m-refi-for-dallas-chase-tower\/","title":{"rendered":"Fortis Secures $188M Refi for Dallas’ Chase Tower"},"content":{"rendered":"
\"\"<\/a>

Chase Tower<\/p><\/div>\n

Fortis Property Group has refinanced Chase Tower in Dallas, an office high-rise totaling 1.3 million square feet. Starwood Property Trust provided the $188.1 million financing package for the city\u2019s fourth-tallest building, Dallas County records show.<\/p>\n

The new funding retires a $199 million acquisition loan taken out by the owner in 2016, when it paid $285 million for the multi-tenant office asset, CommercialEdge data shows.<\/p>\n

Located on a more than 3-acre site at 2200 Ross Ave., the LEED Gold certified building rises 55 stories. Designed by architect Richard Keating, the 1987-completed skyscraper underwent complete renovations in 2015.<\/p>\n

The former owner invested $10 million in a capital improvement plan to upgrade Chase Tower, while Fortis Property Group has doubled down and invested $20 million in upgrades that are currently underway, according to the property website. Planned amenities include a cafe along with a restaurant and bar.<\/p>\n

Chase Tower is home to the Dallas Petroleum Club and features a conference center seating 175 people, fitness center, tenant lounge and has access to several restaurants and shops through a sky bridge. The office building features column free 27,500-square-foot floorplates with ceiling heights between 9 and 13 feet.<\/p>\n

Situated within Dallas\u2019 Central Business District, the property is within walking distance of a light rail station served by all four DART lines and has easy access to Interstate 345. Dallas-Fort Worth International Airport is roughly 20 miles northwest, while Dallas Love Field Airport is 6 miles away.<\/p>\n

Tenant list<\/h2>\n

According to CommercialEdge data, the tenant roster includes JP Morgan Chase, Locke Lord, Deloitte, Norton Rose Fulbright, Sheppard, Mullin and Richter & Hampton, among many others. In February 2020, Sheppard, Mullin, Richter & Hampton expanded its presence<\/a> in the office tower, inking a new lease that doubled the space it occupied since 2018.<\/p>\n

In late 2022, the banking giant could be parting from its namesake skyscraper within the city\u2019s CBD, as reported by the Dallas Business Journal<\/em>. JP Morgan Chase could potentially lease a 120,000-square-foot space at 1900 N. Akard St., a 480,609-squre-foot office high-rise owned by Hunt Realty Investments, less than half a mile from Chase Tower.<\/p>\n","protected":false},"excerpt":{"rendered":"

The owner also committed $20 million to upgrade the 55-story office property.<\/p>\n","protected":false},"author":1763,"featured_media":1004550175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21808,21825,21742,21747],"tags":[38209,35274,33469],"class_list":["post-1004550171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-featured","category-finance","category-latest","category-office","tag-fortis-property-group","tag-jpmorgan-chase","tag-starwood-property-trust"],"acf":[],"yoast_head":"\nFortis Secures $188M Refi for Dallas' Chase Tower - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fortis-secures-188m-refi-for-dallas-chase-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fortis Secures $188M Refi for Dallas' Chase Tower\" \/>\n<meta property=\"og:description\" content=\"The owner also committed $20 million to upgrade the 55-story office property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fortis-secures-188m-refi-for-dallas-chase-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-09T13:04:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:30:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/Chase-Tower-Featured-Image-e1631185335465.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fortis-secures-188m-refi-for-dallas-chase-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fortis-secures-188m-refi-for-dallas-chase-tower\/\",\"name\":\"Fortis Secures $188M Refi for Dallas' Chase Tower - 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