JLL arranges $596M refinancing for The Crescent in Uptown Dallas
MWN-AI** Summary
JLL's Capital Markets team recently facilitated a substantial refinancing package amounting to $596 million for The Crescent, a prominent mixed-use property located in Uptown Dallas. Spanning 1.3 million square feet, The Crescent encompasses three high-end office towers alongside a three-story atrium building, which is home to some of Dallas' most luxurious retailers and dining establishments. The financing, secured through a floating-rate CMBS loan from Goldman Sachs and J.P. Morgan, is part of a three-year deal executed on behalf of Crescent Real Estate LLC.
Initially constructed in the 1980s, The Crescent has undergone significant renovations over the last five years and boasts a vibrant atmosphere filled with quality amenities, including a hotel, spa, and several upscale restaurants and shopping options. The property is strategically situated within the affluent Uptown Dallas area, commonly referred to as “The Wall Street of Dallas.” This submarket has experienced impressive rent growth of 57.1% since 2014, driven by a high demand for Tier 1 office space and an increasingly affluent demographic surrounding the area.
Currently, The Crescent is approximately 90% leased, featuring notable tenants such as Jeffries, Wells Fargo, and UBS. This refinancing initiative highlights JLL’s expertise in capital solutions and its capacity to support high-profile real estate ventures. With over 3,000 specialists worldwide, JLL continues to leverage its global and local market knowledge to provide top-tier advisory services.
Crescent Real Estate LLC is well-regarded in the industry, managing over $10 billion in assets and focusing on a diverse array of real estate investments, including office, multifamily, and hospitality sectors across the United States.
MWN-AI** Analysis
In a significant move for the real estate market, JLL has successfully orchestrated a $596 million refinancing for The Crescent, located in the bustling Uptown Dallas area. This mixed-use landmark, which spans 1.3 million square feet, includes prominent office towers and luxury retail space. This refinancing effort, backed by Goldman Sachs and J.P. Morgan, highlights the robust economic activity in Uptown Dallas, an area that has experienced substantial rent growth—over 57% since 2014—as demand for premium office space continues to rise.
Market analysts should note that The Crescent is strategically positioned within one of Dallas' most affluent neighborhoods, surrounded by high-end amenities and access to top-tier tenants such as Wells Fargo and UBS. With a leasing rate of 90%, the property demonstrates strong tenant demand and serves as a critical component of the Uptown submarket's economic vitality.
Investors looking to enter the commercial real estate market in Dallas should consider the Uptown area as a high-potential investment opportunity. The recent refinancing of The Crescent signals confidence among lenders and reveals a growing recognition of the area's potential, particularly as scarcity in Tier 1 office products intensifies. This situation creates a compelling case for investment, as the demand will likely continue to support rental growth.
Long-term investors may wish to explore opportunities surrounding mixed-use developments, as they are increasingly attractive for institutional investors seeking diversified portfolios. As the market evolves, staying abreast of developments like The Crescent's refinancing will be crucial for informed investment decision-making. In conclusion, Uptown Dallas presents a promising landscape for commercial real estate investments, with strong demand drivers and potential for future appreciation.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
The landmark mixed-use property is home to trophy office space and some of the city's top luxury retailers and restaurants
DALLAS, Feb. 12, 2026 /PRNewswire/ -- JLL's?Capital Markets group announced today that it has arranged a $596 million refinancing for the office towers and atrium building at The Crescent, a landmark mixed-use property totaling 1.3 million square feet in the heart of Uptown Dallas, Texas.
JLL worked on behalf of Crescent Real Estate LLC to secure the three-year, floating-rate CMBS loan through Goldman Sachs and J.P. Morgan.
The Crescent is one of Dallas' most iconic real estate landmarks, consisting of The Cresent office towers, which are three world-class office towers with ground floor retail totaling 1,206,239 square feet and the atrium building, a 167,510-square-foot, three-story building that is home to some of the top luxury retailers and restaurants in the city. Originally built in the 1980's, The Crescent has been substantially renovated in the last five years and is surrounded by quality amenities, including the Hotel Crescent Court and The Spa at The Crescent, a full-service fitness center, eleven restaurants, luxury shopping, an art gallery and two salons.
Commonly referred to as "The Wall Street of Dallas", The Crescent is 90% leased to top tenants such as Jeffries, BankUnited, BMO Harris Bank, Wells Fargo, PNC Bank, Raymond James, UBS and more.
The property sits in the heart of Uptown Dallas at 100, 200, 300 and 500 Crescent Court. Uptown has flourished over the last four decades into the highest performing submarket in Dallas, surrounded by Dallas' most densely populated and affluent neighborhoods, including Highland Park, University Park, Lakewood and Preston Hollow. The submarket has seen tremendous rent growth of 57.1% since 2014, which will continue as the scarcity of Tier 1 office product accelerates.
JLL's Capital Markets Debt Advisory team representing the borrower was led by Executive Managing Director Trey Morsbach, Senior Managing Director Jim Curtin and Director Christopher Pratt.
JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The team's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL's Capital Markets group has more than 3,000 specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's?newsroom.
About Crescent Real Estate LLC
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion.? Through the GP Invitation Funds, Crescent acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent's premier real estate portfolio consists of Class A, creative office and life sciences, multifamily, hospitality, industrial, and senior living assets located throughout the U.S., including The Ritz-Carlton, Dallas. For more information, visit www.crescent.com.
About JLL?
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Contact: Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 543 4873
Email: kristen.murphy@jll.com
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SOURCE JLL
FAQ**
How does the $596M refinancing arranged by Jones Lang LaSalle Incorporated JLL for The Crescent impact the long-term financial stability of Crescent Real Estate LLC?
What factors contributed to Jones Lang LaSalle Incorporated JLL securing a floating-rate CMBS loan through Goldman Sachs and J.P. Morgan for The Crescent?
Given the recent 57.1% rent growth in Uptown Dallas, how does Jones Lang LaSalle Incorporated JLL anticipate the demand for office space at The Crescent will evolve over the next few years?
What strategies does Jones Lang LaSalle Incorporated JLL employ to maintain a high occupancy rate in iconic properties like The Crescent, which is currently 90% leased to top tenants?
**MWN-AI FAQ is based on asking OpenAI questions about Jones Lang LaSalle Incorporated (NYSE: JLL).
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