Irving Buys Mid-Rise To House Emergency Departments: The DFW Deal Sheet

Irving’s police and fire departments are moving to a six-story office building the city bought in an off-market deal.

Grupo Haddad sold the nearly 261K SF mid-rise MacArthur Ridge II to the city of Irving for an undisclosed price. The Class-A building, on 7.52 acres at 909 Hidden Ridge, features skyline views of Dallas and a two-story lobby and sits near the center of the city.

MacArthur Ridge II was developed in 1999 by CalSTRS and subsequently sold to Hines. Grupo Haddad had owned the asset since 2013 and recently completed renovations to the building's common areas.

Bradford Commercial Real Estate Services had the building on the market to lease when Irving officials inquired about buying it. 

"MacArthur Ridge II has good bones and infrastructure," Bradford Senior Vice President Jared Laake said in a statement. "Officials have indicated plans to immediately occupy part of the building while it's undergoing renovation for police and fire department use."

Sweetening the deal for the buyer were two plug-and-play floors and secure parking with 1,200 spaces

Bradford’s Laake and Richmond Collinsworth represented Grupo Haddad in the direct deal. 

SALES

San Diego-based Cameron Brothers purchased the 300-unit Aura Avant multifamily community in Lewisville from Trinsic Residential Group. The trophy property was rebranded as The Winslow as part of the Cameron Collection. Newmark’s Brian O’Boyle Jr., Brian Murphy and Richard Furr represented the seller. The property was around 92% occupied at the time of sale.

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Dallas-based Pillar Commercial and New York-based Ascent Real Estate Advisors formed a joint venture partnership to acquire the 311K SF Rambler Park office tower in North Dallas. The 14-story building is home to a number of healthcare-related tenants and is located near an established medical district anchored by Texas Health Presbyterian Hospital. JLL’s Brian Carlton and De’On Collins secured the lender, First Bank, to provide acquisition financing. 

CONSTRUCTION AND DEVELOPMENT

The joint venture partnership of BDT & MSD Partners, Trammell Crow Co. and The Retail Connection broke ground on the 300K SF Knox & McKinney boutique office and luxury retail building. The 12-story project at 4544 McKinney Ave. in Dallas is expected to be delivered in 2028. Global law firm Jones Day has leased 76K SF in the building. 

Designed by Pickard Chilton Architects and HKS Architects, Knox & McKinney is being built by DPR Construction. Financing was provided by Goldman Sachs Alternatives and arranged by JLL. Office leasing is led by CBRE’s Trey Smith, Alexandra Cullins and Julee Amparo, with retail leasing overseen by The Summers Group. Jones Day was represented by Cushman & Wakefield's Ryan Hoopes, Tom Sutherland, Kurt Richter, Art Santry and Alexandra Boury.

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Forefront Commercial Real Estate started construction at Pinnacle 30, a speculative industrial development at 4331 Communications Drive in Dallas. The 282K SF project will consist of two Class-A buildings designed to accommodate users ranging from 40K SF to 282K SF. Building A will be 207K SF, while Building B will total 75K SF.

Forefront acquired the 18-acre site in January 2025 and demolished the existing vacant, four-story office building. CBRE’s John Hendricks and Trapper Graff are marketing the development. Northmarq’s Mason Brower secured construction financing for the project with Origin Bank, led by Clark Rosener. GSR Andrade Architects designed the buildings, with BGE as the civil engineer and Gordon Highlander as the general contractor.

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Tellus Group broke ground on the $1.5B Sherley Farms master-planned community in Anna. Homebuilders in the initial phase include Bloomfield Homes, DRB Homes, Drees Custom Homes, Highland Homes, Homebound, Olivia Clarke Homes and Perry Homes. Lots are projected to be delivered in late 2026, with the first model homes available in 2027.

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The Denison Development Alliance selected Craig International as master developer for a 189-acre, city-owned site at the intersection of U.S. Highway 75 and FM 84. Craig International won the competitive bid process with a $12M proposal. The project will move forward in phases, beginning with collaborative planning to refine the site plan, align on a long-term vision and recruit key anchor users.

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Kaizen Development Partners and Douglas Elliman Real Estate announced that the 2.5-acre Chalk Hill mixed-use development project in Uptown will feature The Dallas Edition Hotel and The Residences at The Dallas Edition, marking the brand’s first location in Texas. The 214-key hotel and 60 luxury residences will be located at 3031 N. Harwood St.

FINANCING

JLL Capital Markets secured acquisition financing for the 589-unit LeftBank multifamily community in Fort Worth. JLL represented the borrower, Bow River Capital Partners, to originate the five-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital LLC. LeftBank was built in 2018 at 600 Harrold St. JLL Capital Market’s Leon McBroom, Rob Bova, Lauren Dow and Ellie Savage represented the borrower.

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JLL’s Hotels & Hospitality Group arranged financing for the renovation of the 337-room Renaissance Dallas North Hotel at 1590 Lyndon B. Johnson Freeway in Las Colinas. JLL worked on behalf of the borrower, 3H Group Inc. and Dallas Lodging Associates LLC, to secure the floating-rate, five-year loan through Western Alliance Bank. 

The 12-story property features nearly 23K SF of meeting and event space as well as three food and beverage outlets. 3H Group/Dallas Lodging Associates acquired the hotel in July and plans to complete a comprehensive renovation program targeting guest rooms, food and beverage outlets, and meeting spaces. The JLL Hotels & Hospitality team of Jillian Mariutti, Adrienne Andrews and Pierce Rutledge represented the borrower.

PEOPLE

Hall Structured Finance promoted Brad Ferguson to senior vice president of originations and hired Josh Clary as executive vice president and senior lending officer. Ferguson has been with the company for 10 years and will continue leading loan sourcing efforts across its target sectors. Clary will oversee the lending process from initial screening through underwriting, loan committee approval and closing. 

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Dallas-based Everest Group appointed Ross Tisnovsky as a partner to lead the expansion of its CIO Research and Advisory practice, an initiative to support companies navigating an artificial intelligence-infused landscape where the role of chief information officer is evolving into that of chief intelligence orchestrator. Tisnovsky rejoined Everest Group after 12 years at McKinsey & Co.

THIS AND THAT

Elon Musk’s The Boring Co. selected Hoque Global’s $1B University Hills development in Southern Dallas to receive a free mile-long transit tunnel. Groundbreaking and timeline for the project will be announced once planning and permitting are completed. The tunnel will connect University Hills with the Dallas Area Rapid Transit station at the University of North Texas Dallas campus. The other developments selected to receive the 12-foot-diameter tunnels were NOLA Loop in New Orleans and Ravens Loop in Baltimore. 

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Sixth Street invested in the Bank of America Tower at Parkside as part of a joint venture with Pacific Elm Properties. The investment firm provided a structured equity investment to recapitalize the property, while Pacific Elm Properties will continue to lead the development of the 30-story project that will feature around 500K SF of rentable space. The building is already partially leased to Bank of America and is expected to be completed in the first quarter of 2027.