Dallas, TX –JLL’s Capital Markets Group has arranged a $1.2 billion refinancing package for NorthPark Center, a major shopping destination in Dallas, Texas. The loan was led by Wells Fargo, with Morgan Stanley and Goldman Sachs also participating in the financing.
JLL represented NorthPark Management Company, owned by the Nasher/Haemisegger family, in the transaction. Proceeds from the refinancing will be used to retire the existing mortgage and to redeem the equity interests in the property, returning full ownership to the family.
Opened in 1965 and now celebrating its 60th anniversary, NorthPark Center is a 1.9 million-square-foot Class A++ super-regional shopping center. It features over 190 tenants, with 75 market-exclusive retailers, and maintains a high occupancy rate of 98.6%. Anchor tenants include Neiman Marcus, Nordstrom, Macy’s, Dillard’s, Eataly, and an AMC 15-screen theater.
Located at the intersection of Northwest Highway and US-75, the center benefits from strong accessibility and visibility, drawing both regional and international visitors. It is situated near some of Dallas’ most affluent neighborhoods and major employment centers.
In addition to retail, NorthPark Center is known for integrating art and culture into the shopping experience. The property features more than 50 works of modern and contemporary art from the Nasher/Haemisegger Collection, with many others on loan from institutions such as the Nasher Sculpture Center.
JLL’s Timothy Joyce, Trey Morsbach, and Matt Maksymec led the debt advisory team on the transaction.
“The refinancing of NorthPark Center demonstrates the continued strength of premier retail assets in major markets,” said Joyce.
JLL’s Capital Markets Group provides debt, equity, and investment advisory services for real estate clients worldwide.
