{"id":1004568543,"date":"2022-02-23T03:11:00","date_gmt":"2022-02-23T11:11:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004568543"},"modified":"2022-12-08T13:36:37","modified_gmt":"2022-12-08T21:36:37","slug":"angelo-gordon-jv-secures-114m-for-dallas-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/angelo-gordon-jv-secures-114m-for-dallas-acquisition\/","title":{"rendered":"Angelo Gordon JV Secures $114M for Dallas Acquisition"},"content":{"rendered":"
\"\"<\/a>

2801 NCX. Image courtesy of JLL<\/p><\/div>\n

A joint venture between OliveMill Holdings, Hunt Realty Investments<\/strong> and Angelo, Gordon & Co. <\/strong>secured $113.9 million in acquisition financing for 2801 NCX, a 240,000-square-foot office building in the West Village subsection of Uptown Dallas.<\/p>\n

Working on behalf of the borrower, JLL Capital Markets <\/strong>arranged the five-year, floating-rate loan with a fund managed by AllianceBernstein<\/strong>.<\/p>\n

2801 NCX changed hands last month<\/a>, when the partnership bought the asset from advertising firm The Richards Group<\/strong>. Built in 2015, the Class AA development has 12 floors of office space fully leased to The Richards Group, according to CommercialEdge data.<\/p>\n

Property details<\/h2>\n

Situated on 2.52 acres, the property also offers nine levels of parking for 609 vehicles, representing a parking ratio of 3.08 spaces per 1,000 square feet. Amenities include a fitness center, outdoor space on the 11th floor, as well as 10,000 square feet of first-floor retail, CommercialEdge data shows.<\/p>\n

The property is located at 2801 N. Central Expressway in Uptown District, a burgeoning area whose population has increased by more 40 percent since 2010 and is expected to continue growing.<\/p>\n

The CityPlace\/Uptown DART light rail station is adjacent to 2801 NCX. Downtown Dallas is less than 3 miles south, while West Village Shopping Mall with its variety of retail, dining and entertainment options is less than half a mile northwest of the property.<\/p>\n

Senior Managing Director Jim Curtin, Senior Director Kris Lowe, Vice President Rex Cruz and Analyst Ryan Pollack led the JLL Capital Markets team representing the borrower.<\/p>\n

More than 28 million square feet of office space traded in the Dallas-Fort Worth market in 2021<\/a>. CommercialEdge data shows that only a quarter of these office transactions in the Metroplex were Class A and A+ properties.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL Capital Markets arranged the financing through a fund managed by AllianceBernstein.<\/p>\n","protected":false},"author":3142,"featured_media":1004568544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21825,22251,21783,21742,21747],"tags":[38004,36132,43274,36887,32796,44006],"class_list":["post-1004568543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-finance","category-in-focus","category-investment","category-latest","category-office","tag-alliancebernstein-lp","tag-angelo-gordon-and-company","tag-hunt-realty-investments","tag-jim-curtin","tag-jll","tag-jll-capital-markets"],"acf":[],"yoast_head":"\nAngelo Gordon JV Secures $114M for Dallas Acquisition - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"OliveMill Holdings, Hunt Realty Investments and Angelo Gordon secured $113.9 million in acquisition financing from AllianceBernstein.\" \/>\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\/angelo-gordon-jv-secures-114m-for-dallas-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Angelo Gordon JV Secures $114M for Dallas Acquisition\" \/>\n<meta property=\"og:description\" content=\"OliveMill Holdings, Hunt Realty Investments and Angelo Gordon secured $113.9 million in acquisition financing from AllianceBernstein.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/angelo-gordon-jv-secures-114m-for-dallas-acquisition\/\" \/>\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=\"2022-02-23T11:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:36:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2801-NCX.-Image-courtesy-of-JLL-e1645610884289.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"669\" \/>\n\t<meta property=\"og:image:height\" content=\"501\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anda Rosu\" \/>\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\/angelo-gordon-jv-secures-114m-for-dallas-acquisition\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/angelo-gordon-jv-secures-114m-for-dallas-acquisition\/\",\"name\":\"Angelo Gordon JV Secures $114M for Dallas Acquisition - 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