JLL Arranges Construction Financing and Equity for 265-Unit Lucille Tower in Uptown Dallas
JLL has secured construction financing and an equity placement for Lucille, a 265-unit, 22-story Class AA high-rise multifamily development at 2700 McKinney Ave. in Uptown Dallas, the firm announced July 23, 2026.
JLL represented the developer, Endeavor Real Estate Group, in securing the construction loan through Landesbank Hessen-Thüringen GZ (Helaba), a German bank with approximately €201 billion in total assets. JLL also arranged the equity placement with Canyon Partners.
Project Details: Lucille Tower in Uptown Dallas
Lucille will rise 22 stories above grade at the intersection of McKinney Avenue and Boll Street, less than two blocks from Whole Foods Market in Uptown Dallas. The development sits on a 1.14-acre site and will include four levels of below-grade parking and 10,000 square feet of ground-floor retail. The tower is designed to achieve LEED Silver certification and will offer views of the Dallas skyline overlooking the historic State Thomas neighborhood.
The property carries a Walk Score of 96 and provides residents access to more than 11,000 jobs within a 10-minute walk. Its location also places residents within proximity to Downtown Dallas, the Dallas Medical District, and Victory Park. Completion is scheduled for 2028.
Capital Partners: Helaba, Canyon Partners, and Endeavor
Helaba, headquartered in Frankfurt and Erfurt, serves as both a central clearing institution for regional savings banks and a development bank for the German states of Hesse and Thuringia. The bank employs approximately 6,000 people worldwide and maintains offices in major financial centers including New York, London, Paris, and Shanghai. Its lending focus includes corporate banking, real estate finance, and public-sector lending.
Canyon Partners Real Estate is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with approximately $30 billion in assets under management. Over the last 15 years, Canyon has invested over $7.9 billion of debt and equity capital across 278 transactions, capitalizing approximately $24.7 billion of real estate assets.
Endeavor Real Estate Group, founded in 1999 and headquartered in Austin, Texas, has developed or acquired over 36 million square feet of commercial real estate with more than $7.3 billion in total capitalization since inception. The firm's recent high-rise mixed-use projects include The Bowie in Austin, 1200 Broadway in Nashville, The Quincy in Austin, and Gulch Union Phases I and II in Nashville.
JLL Capital Markets Team
JLL Capital Markets' Investment and Sales Advisory team on the transaction was led by Senior Managing Director Campbell Roche, Senior Director John Bauman, Vice President Rex Cruz, Associate Chad Lisbeth, and Analyst Riley Alam.
Market Context: Construction Capital and Uptown Dallas
The financing reflects continued lender and equity partner interest in well-located urban infill multifamily development in the Dallas market. Lucille's dense vertical format, walkable location, and mixed-use retail component align with an urban infill strategy targeting higher-income renters in a submarket with proximity to major employment centers. The involvement of a European institutional lender alongside an established equity partner points to ongoing capital availability for development projects with strong sponsor credentials, infill positioning, and durable rent demand fundamentals.
JLL Capital Markets operates globally with more than 3,000 specialists in offices across nearly 50 countries, providing debt advisory, equity and fund placement, investment sales, and related capital solutions.