Square Mile Capital Management originated a $67 million loan secured by Signature Exchange, a 454,000 s/f office building located in Dallas, Texas.
The loan was made to America’s Capital Partners, who acquired the property in 2015, and it includes proceeds to refinance existing debt and fund future leasing costs.
Square Mile Capital Principal Tom Burns said, “America’s Capital Partners has an excellent track record of success as an owner and operator of office properties throughout the United States.
“We are delighted to provide financing for Signature Exchange, the Preston/Belt Line area’s sole LEED-Certified Class A office property. We believe that, with the new capital made available through this financing, the property is well-positioned for continued success.”
Signature Exchange is located along Preston Road in North Dallas, about 20 minutes from the Dallas CBD and 25 minutes to the DFW International Airport.
The asset is a short drive from the Lyndon Johnson Freeway (I-635) and the Dallas North Tollway, allowing for easy access from desirable residential neighborhoods and elsewhere throughout the DFW metropolitan area.
The property’s immediate area includes a variety of F&B and other retailers, including a Trader Joe’s and Tom Thumb Grocery.
The loan is Square Mile Capital’s third transaction with America’s Capital Partners. In 2018, Square Mile provided $121 million in financing secured by The Towers at Wildwood Plaza, an office complex located in Atlanta, GA.
The firm provided a $63 million loan in 2019 for Coliseum Centre, an office portfolio located in Charlotte, NC.