JLL Arranges $406M CMBS Financing for Trammell Crow Center in Dallas Arts District
DALLAS — JLL's Capital Markets group has arranged $406 million in financing for Trammell Crow Center, a 1,226,825-square-foot trophy office tower in Dallas' Arts District, the firm announced Sept. 24, 2026.
JLL worked on behalf of the borrower, Regent Properties, LLC, to secure the five-year, fixed-rate, single-asset single-borrower (SASB) CMBS loan through Wells Fargo and Morgan Stanley. At approximately $331 per square foot of rentable area, the transaction represents one of the larger office financings in the Dallas market in recent years.
Property and Loan Details
Trammell Crow Center, located at 2001 Ross Avenue, stands 50 stories on a 2.2-acre site at the intersection of the Dallas Arts District, Klyde Warren Park and the Nasher Sculpture Center. The tower was completed in 1984 and underwent a $182 million capital improvement program completed in 2019 by the prior ownership group. That renovation included construction of a new parking structure delivering a 3.0-spaces-per-1,000-square-foot ratio, 27,000 square feet of ground-floor retail, a full lobby renovation and a suite of Class AA amenities that includes the TCC Athletic Club, a conference center, an outdoor pavilion and on-site dining.
The property is 92% leased to a roster of tenants that includes Goldman Sachs, Baker & Botts LLP, Vinson & Elkins LLP, Orix and Prudential. Regent Properties acquired the building in 2022. The tower's amenity package and Arts District location have been cited as competitive differentiators in the Dallas office market.
The surrounding area provides tenants with access to more than 400 shops and restaurants, approximately 2.7 million square feet of retail and more than 29,000 multifamily units within walking distance. The 118-acre Dallas Arts District is the largest contiguous urban arts district in the United States, drawing more than 1.5 million visitors annually and generating an estimated $400 million in annual economic impact.
JLL Team
The JLL Capital Markets Debt Advisory team representing Regent Properties was led by Managing Director Greg Napper and Associates Jordan Buck and Rett Daugbjerg.
Dallas Office Market Context
The financing arrives as the Dallas-Fort Worth office market shows gradual improvement from elevated vacancy levels. Overall office vacancy in the metro has been reported in the range of 24% to 25% across major brokerage surveys in mid-2026, down modestly from year-earlier levels. New office supply remains constrained, with deliveries in 2026 tracking at the lowest annual level since 2012, a dynamic that supports conditions for well-positioned assets.
The transaction illustrates the continued bifurcation within the office sector. Lenders and institutional capital have remained selective, concentrating activity on trophy and Class AA assets with recent renovations, strong in-place occupancy and amenity-rich, walkable locations — characteristics highlighted in connection with the financing. The broader office market, including older Class A and commodity suburban properties, continues to face more constrained financing conditions.
The five-year loan term gives Regent Properties a defined runway to execute its leasing and asset management strategy at the tower. The SASB structure, channeled through Wells Fargo and Morgan Stanley, reflects continued institutional appetite for large-balance, single-asset office loans secured by properties with predictable cash flows in supply-constrained, high-growth Sun Belt markets.
About the Firms
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in more than 80 countries. The firm's Capital Markets group includes more than 3,000 specialists in nearly 50 countries.
Founded in 1989, Regent Properties, LLC is an SEC-registered investment advisor and real estate investment management and development firm headquartered in Los Angeles and Dallas. The company is a vertically integrated operator and fund manager with investments concentrated in six Sun Belt markets, managing commingled funds and separate accounts on behalf of institutional investors.
Sources
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