Another one. Fort Worth-based Crescent Real Estate has purchased another Uptown Dallas tower, adding to its growing empire in the booming district.
Dallas County deed records show the firm purchased the 19-story property from the seller, a joint partnership between Metropolitan Life Insurance Co. and New York Common Fund.
The purchase price was not disclosed. Crescent Real Estate did obtain $170.4 million in loans to fund the deal, records show. The deal closed Dec. 17.
The Dallas Central Appraisal District most recently valued the more than 360,000-square-foot property at $184.8 million for tax purposes.
D-FW Real Estate News
Attempts to contact Crescent Real Estate and a representative for the seller were not returned before publication.
Founded by billionaire John Goff, Crescent Real Estate has grown its presence in Uptown since purchasing its namesake Crescent complex in a 2021 deal worth as much as $700 million.
Just down the road, the firm purchased The Texas Capital Center at 2000 McKinney Ave. in October from German-based seller Union Investment. It’s the largest office transaction this year in Dallas-Fort Worth.
Union Investment bought the property in 2016 for about $226 million. The sale price wasn’t disclosed, but Union Investment said it “is above the latest valuation.”
The tower at 2100 McKinney Ave. was developed by Trammell Crow Company in 1999 and renovated in 2021. The tower is approximately 95% leased, according to the property’s website.
Tenants include real estate firm CBRE and its recently renovated 95,000-square-foot office space. CBRE’s global headquarters, also in Dallas, opened last year at PwC Tower at 2121 Pearl St.