September 13, 2018 Comments (0) Views: 700 National News, Southwest, Texas News

Iconic 60-Story Dallas Tower Secures $163M Refi

Comerica Bank Tower, a 1.5-million-square-foot, iconic, Class AA office skyscraper located in the heart of downtown Dallas received $163 million in refinancing. HFF led the effort to place the new loan with Annaly Commercial Real Estate Group, Inc. on behalf of the borrower, a partnership between Dallas-based TriGate Capital, LLC and M-M Properties.

The loan proceeds will be used to repay a prior CMBS loan and provide additional funds for leasing, the expansion of the Elm Street parking garage and other capital expenditures.

Designed by internationally-acclaimed architects Philip Johnson and John Burgee, the 60-story, trophy asset was completed in 1987. The tower is situated on 1.8 acres at 1717 Main St., between North Ervay Street and St. Paul Street.

HFF’s debt placement team representing the borrower included John Brownlee and Jim Curtin.

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