{"id":215626,"date":"2025-09-10T13:48:13","date_gmt":"2025-09-10T13:48:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/215626\/"},"modified":"2025-09-10T13:48:13","modified_gmt":"2025-09-10T13:48:13","slug":"santander-tower-secures-132-5m-loan-for-conversion","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/215626\/","title":{"rendered":"Santander Tower secures $132.5M loan for conversion"},"content":{"rendered":"

CIM Group provides $132.5 million loan for Santander Tower conversion. Pacific Elm Properties is creating 396 apartments, converting away from office space.<\/p>\n

DALLAS \u2014 This story was originally published by our content partners at the Dallas Business Journal.\u00a0<\/strong>Read the original version here.<\/strong><\/a><\/p>\n

A landmark tower in downtown Dallas has nabbed a nine-figure recapitalization loan to fund the completion of its conversion from office space to mixed-use.<\/p>\n

CIM Group LLC announced Sept. 8 that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $132.5 million loan for Dallas-based Pacific Elm Properties LLC to recapitalize Santander Tower, the high-profile 50-floor high-rise it owns\u00a0at 1601 Elm St.<\/p>\n

Pacific Elm is in the process of\u00a0repositioning the tower from a traditional office building into a mixed-use development with a partial conversion to multifamily.<\/p>\n

Pacific Elm is creating 396 apartments, called the Peridot Residences, on non-contiguous floors, leaving 858,737 square feet of class A office space remaining in addition to the two-floor Mint House luxury hotel, the private Tower Club on the 48th floor and ground-floor retail space.<\/p>\n

Click here for the full story.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"CIM Group provides $132.5 million loan for Santander Tower conversion. Pacific Elm Properties is creating 396 apartments, converting…\n","protected":false},"author":3,"featured_media":215627,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5135],"tags":[5229,1596,358,3187,67,586,132,5230,68,2969],"class_list":{"0":"post-215626","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dallas","8":"tag-america","9":"tag-dallas","10":"tag-texas","11":"tag-tx","12":"tag-united-states","13":"tag-united-states-of-america","14":"tag-unitedstates","15":"tag-unitedstatesofamerica","16":"tag-us","17":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115180320574415042","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/215626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=215626"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/215626\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/215627"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=215626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=215626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=215626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}