By Steve Brown / December 24, 2019 / The Dallas Morning News
Developer Harwood International has just closed a large loan on part of its 18-block Harwood District north of downtown Dallas.
The financing comes as the developer is finalizing plans for what would be its largest project to date in the Uptown area.
PGIM Real Estate — an arm of Prudential Financial Inc. — provided a more than $122 million loan for Harwood International’s newest office building and other properties in the district. The developer is finishing work on the office tower, a 22-story high-rise on McKinnon Street called Harwood No. 10.
The 220,548-square-foot building with more than 14,000 square feet of retail and restaurant space already has significant leasing, including the headquarters of data center firm CyrusOne.
Harwood International secured the new financing for the existing properties as it moves forward with plans to build a 42-story skyscraper a few blocks away. The developer just filed the first building permits for the high-rise, which would be constructed near Field Street and Harry Hines Boulevard on the edge of Victory Park.
The skyscraper is being designed by the developer’s Harwood Design Factory.
The Harwood District — which is between downtown and the entry to the Dallas North Tollway — has more than 2 million square feet of office, residential and retail space. Harwood International’s long-term plans for the project include more than 11 million square feet of buildings with an estimated value of more than $3 billion.
The developer has been building projects in the area since 1982, when it opened its eight-story Rolex Building near the Crescent.