US-based capital markets and brokerage services company Holliday Fenoglio Fowler (HFF) has secured a new loan for the Class AA office skyscraper, Comerica Bank Tower, in Dallas, Texas.
HFF secured the loan on behalf of the borrower, a partnership between TriGate Capital and M-M Properties.
The partnership will use the funding to repay a previously secured CMBS loan, as well as offer additional funds for leasing, the expansion of the Elm Street parking garage and other capital expenditures.
Designed by architects Philip Johnson and John Burgee in 1987, the 60-storey skyscraper is owned by 1717 Dallas Partners and features granite and aluminium curtain wall system with insulated glass, walls with polished Botticino Classico marble and a Rojo Alicante marble base.
TriGate Capital senior vice-president Jason Obenhaus said: “The loan provides capital for the partnership to execute its business plan, which is to increase occupancy in conjunction with building upgrades and a parking garage expansion.
“The thriving area immediately surrounding Comerica Bank Tower, including Royal Blue Grocery, Neiman Marcus, The Statler Hilton, Main Street Gardens and the under-construction Pacific Plaza Park, is attracting tenants to the building area.
“Our job is to provide modern tenant spaces while showcasing the building’s iconic architecture and classic high-rise features.”
The building also features a Dallas Chop House dining location, a delicatessen, tenant conference centre, an executive lounge with wine lockers, patio bar and direct access to a pedestrian tunnel system.
According to the company, Comerica Bank Tower has more than 100 retail stores and restaurants, 3,850 residential units and 1,850 hotel rooms.