JLL Arranges JV Equity and Construction Financing for 8300 Douglas, a Mixed-Use Office and Multifamily Development in Dallas
JLL Capital Markets announced June 3 that it has arranged joint venture equity and construction financing for 8300 Douglas, a mixed-use development in Dallas's Preston Center neighborhood that will combine Class AA office space, luxury multifamily units and ground-floor retail in a single project. The financing was arranged on behalf of developer RAMROCK Real Estate, which is partnering with Lincoln Property Company and Willow Bridge Property Company on the development.
Project Overview: Office, Multifamily and Retail at Preston Center
Located at 8300 Douglas Avenue — fronting Luther Lane and Westchester Drive — the development is situated near the neighborhoods of Preston Hollow and the Park Cities, with access to the Dallas North Tollway and surrounding thoroughfares.
The project encompasses two towers and a curated ground-floor retail environment. The 12-story Class AA office tower will span approximately 300,000 square feet, with floor plates of roughly 29,000 square feet designed to accommodate diverse tenant configurations. Floor-to-ceiling heights range from 14 feet 6 inches to 22 feet 3 inches, with the ground floor featuring 29-foot 3-inch ceilings. Vision glass ranging from 10 to 12 feet — described by JLL as the tallest in Preston Center — runs throughout the building to maximize natural light.
The 17-story residential tower will deliver 147 luxury units managed by Willow Bridge Property Company. Approximately 24,000 square feet of ground-floor retail and restaurant space will connect the two towers via landscaped walkways. A 35,000-square-foot rooftop park and nearly 35,000 square feet of additional outdoor space within the office tower — including 11 balconies and two penthouse terraces — round out the amenity program. The development will also include approximately 1,000 parking spaces across four below-grade and two above-grade levels. Delivery is targeted for 2028.
Financing Structure: Single-Source JV Equity and Construction Debt
JLL Capital Markets arranged both the joint venture equity and construction financing from a single capital source, according to the firm's announcement. Financial terms, including loan amount and equity check size, were not disclosed.
The JLL Capital Markets team was led by Americas CEO Mark Gibson, Senior Managing Directors Jim Curtin and John W. Rose, Managing Director Clint Coe, Vice President Ryan Pollack and Analyst Campbell Swango.
A recently executed lease with Fifth Third Bancorp for the bank's regional headquarters has pushed the office tower above 80% pre-leased. Financial terms of that lease were not disclosed.
Design and Amenities
The development was designed by HKS Architects, with interior design contributions from Michael Hsu Office of Architecture and SJL Design Group, and landscape architecture by OJB Landscape Architecture. The project incorporates what the development team describes as hospitality-inspired design elements, including a full-service health club, tenant lounge, wine room, conference facilities and catering kitchen within the office tower.
Residential interiors were handled by SJL Design Group, and Willow Bridge Property Company will manage the residential tower. Residents will have direct access to ground-floor retail and restaurant spaces and the rooftop park.
The development team is targeting LEED and Fitwel certifications for the office tower. The residential tower will be built to meet City of Dallas Green Building program guidelines.
Sponsor Background
RAMROCK Real Estate was formed in late 2017 as a private investment firm focused on real estate and water-related investment opportunities. The firm says it has invested more than $2.0 billion of equity in real estate and water-related infrastructure since inception.
JLL describes its Capital Markets group as a full-service global provider of capital solutions with more than 3,000 specialists worldwide and offices in nearly 50 countries.