Refinancing secured for DFW Commerce Center Phase II & III

DALLAS, Oct. 1, 2024 –  JLL Capital Markets announced today it secured financing for DFW Commerce Center Phase II & III, a three-building, 1,953,620-square-foot Class A industrial park located at Dallas-Fort Worth International Airport.

JLL represented a joint venture between Goldman Sachs Alternatives and CLX Ventures to secure a floating-rate loan provided by an Ares Management Real Estate fund.

Located at 2501, 2701 and 2801 S. Airfield Dr. in Irving, Texas, the park is comprised of three buildings on a Dallas-Fort Worth International Airport ground lease. The buildings are part of the second and third phases of DFW Commerce Center.

Phases II and III cater to distribution and warehouse users with their excellent access to SH 161, SH 183, and SH 114. Additionally, the buildings feature clear heights ranging from 32- to 40-feet, 180- to 185-foot truck court depths and 399 total dock doors. Notably, Phases II and III are the last developed properties on a DFW Airport ground lease with Foreign Trade Zone capability.

The JLL Debt Advisory team was led by Senior Managing Director Campbell Roche, Directors Lauren Dow and Kristi Leonard, Associate Ryan Pollack and Analyst Campbell Swango. JLL’s Senior Managing Directors Kurt Griffin and Nathan Orbin also lead the leasing efforts for the industrial park.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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CLX Ventures is a real estate development and private equity investment company established by Brad Copeland and Tony Long in January 2019. Together they bring over 75 years of real estate experience to the table, providing entrepreneurial initiative to create innovative, market-leading projects focusing on industrial and multifamily developments in Texas.  Since its inception, CLX Ventures has completed over 20 new projects with construction valued in excess of $1 billion.  Their investment performance track record over that time period is in excess of 30% IRR to its investors, with over 8 millions square feet of industrial and over 2300 units of multifamily developed.

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023.

Established in 1991, Real Estate at Goldman Sachs Alternatives is one of the leading investors in real estate with over $60 billion in capital invested since 2012 across the spectrum of investment strategies from core to opportunistic and credit. The global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity. Follow us on LinkedIn.