Trademark Property Co. has secured a $55 million refinancing loan for Westbend, a 281,000-square-foot mixed-use campus comprising office and retail space in Fort Worth. PGIM issued the seven-year note, which retired a previous loan in the same amount originated by JP Morgan in 2016.
Commercial Search reports Westbend includes an 11-story River Plaza Tower, an office and retail space that debuted in the early 1980s. Trademark repositioned that building as part of a 2015 mixed-use project, which added a new 81,150-square-foot low-rise facility and demolished a parking garage. The property have added a new component, a new residential building is underway.
Westbend’s retail portion is fully occupied, while its office segment has a 97 percent lease rate.The firm is headquartered at Westbend, with the office tenant roster also comprising ECapital Management and Regus. Retail companies include quick-service restaurants such as Shake Shack and Sweetgreen.
The post Trademark Obtains Refi on 281K-SF Fort Worth Mixed-Use Venture appeared first on Connect CRE.
​Â
