Stonelake Capital Partners Secures Bank OZK Construction Financing for 17-Story 2626 McKinney Office Tower in Dallas Uptown
DALLAS — Stonelake Capital Partners has secured construction financing from Bank OZK for a planned 17-story office tower at 2626 McKinney Avenue in Dallas's Uptown submarket, the firm announced June 24, reviving a project that has been in development since the firm acquired the site in 2021.
Financial terms of the loan were not disclosed. Stonelake Capital Partners said it is providing 100% of the equity for the tower, with no joint-venture equity partner disclosed. Construction is scheduled to begin in July 2026, with an estimated 19-month build timeline targeting a 2028 completion.
Project Details: Size, Design, and Amenities
The 2626 McKinney tower will total 180,841 square feet, comprising 173,774 square feet of rentable office space and more than 7,000 square feet of ground-floor retail. The building is situated at the northeast corner of McKinney Avenue and Routh Street, adjacent to a Whole Foods Market.
The tower will feature a glass exterior with upscale interior finishes, according to the announcement. The McKinney Avenue entry will include a covered, hospitality-style valet area along with landscaped walkways and plazas. An amenity level on the 11th floor will include a lounge, flexible conference and event space, a kitchen for events, and a landscaped terrace with views of the Dallas skyline. The fitness center will include cardio and strength training areas, men's and women's locker facilities, a flexible studio with an integrated smart trainer, and a fitness-focused outdoor terrace.
Alabama-based Brasfield & Gorrie will serve as general contractor. The firm has prior North Texas experience, having served as general contractor for both Old Parkland and Omni PGA Frisco.
Leasing Status and Tenant Strategy
Kenneth Aboussie Jr., Stonelake's managing partner, said the firm is currently negotiating with "multiple tenants" and expects to announce leases in the coming months. No executed leases were disclosed at the time of the announcement.
Uptown Dallas has drawn significant interest from financial services firms. The Texas Stock Exchange has announced plans to locate in the new Bank of America Tower at Parkside, and Morgan Stanley Real Estate Investing has been reported to be considering a regional headquarters exceeding $700 million in value at a site further down McKinney Avenue, at the location of Truluck's and the former Gold's Gym.
A Long-Planned Project Moves Forward
Stonelake Capital Partners purchased the Uptown site in 2021. In 2023, the firm revealed plans for a tower of roughly the same scale, with an initial opening target of 2025, but construction never commenced. In 2024, Stonelake demolished the existing office building on the site. The construction financing announced June 24 puts the project on a firm schedule for the first time.
Stonelake Capital Partners' Texas Portfolio
Stonelake Capital Partners has developed approximately 1.45 million square feet of office space in Texas, including several high-rise projects in Austin: the 15-story Domain Tower, leased entirely by Indeed; the 24-story Domain Tower 2, leased to PayPal and Samsung; and the 47-story 415 Colorado in downtown Austin.
Across all asset classes, Stonelake owns, is developing, or has developed more than 34 million square feet of industrial warehouses, 8,155 multifamily units, and 1.45 million square feet of office buildings. In 2025, the firm sold an industrial portfolio comprising 91 properties across the United States totaling nearly 7.6 million square feet for $920 million.
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