KB Asset Management, RED Development JV Obtain $227M Refi on The Union, 505K SF, 21-story office tower in Dallas’ Uptown district

10/22/2024

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• Subcategory: Capital Markets: Debt, Mixed-Use: Retail-Office, Office: CBD, Retail: Restaurant, Retail: Shopping, Specialty

• Tag: Closing | Strategy

• Additional Filters-Subcategory: Capital Markets: Debt-Refinance, Office: Highrise, Retail: Grocery, Retail: Grocery Anchored, Retail: Restaurant Dine-In-FSR, Specialty: Parking Spaces-Garage

• Company: RED Development, Jones Lang LaSalle (NYSE: JLL), Goldman Sachs (NYSE: GS)

KB Asset Management and RED Development have inked a $227 million refinancing for The Union, a mixed-use development in Dallas’s Uptown submarket. The property consists of The Union’s office and retail components, totaling 505,994 square feet, which are 98% leased. The 21-story office tower, completed in 2018, includes nine levels of garage parking and market-leading amenities, including a greenspace amenity deck with entertainment space, a tenant lounge, a fully equipped conference center and a state-of-the-art fitness facility with locker rooms.