Crescent's Uptown Tower Lands Financing

DALLAS–One month after developer Crescent Real Estate Holdings broke ground on the project, HFF has arranged a construction loan and joint venture equity investment for the development of McKinney & Olive, a $225-million, 530,000-square-foot, mixed-use project currently under construction in Uptown Dallas. When completed, the Pelli Clarke Pelli-designed tower will be the tallest building in the neighborhood.

HFF worked exclusively on behalf of Crescent in arranging the 10-year, fixed-rate construction financing through New York Life Insurance Co. J.P. Morgan Asset Management, acting on behalf of institutional investors it advises, provided the joint venture equity for the development. The HFF capital placement team representing the borrower was led by associate director Bill Fishel along with executive managing director Mark Gibson and senior managing director Trey Morsbach.