The Towers at Williams Square, owned in partnership between an investment fund managed by a subsidiary of Apollo Global Management, Vanderbilt Office Properties, and Hillwood Urban, has renewed two leases long term of approximately 110,000 square feet of combined office space in the Class A towers. Franklin American Mortgage Company is renewing 58,200 square feet, while C-III Asset Management, LLC is extending their lease for 51,400 square feet in the four-tower iconic office complex that is the centerpiece of the Las Colinas Urban Center in Irving, Texas.
“Franklin American Mortgage and C-III Asset Management have been valued customers at the Towers at Williams Square, and we are pleased they will remain members of our thriving business community,” said Bill Brokaw, senior vice president of Hillwood Urban and leasing representative for Williams Square. “In addition to the unparalleled amenities such as a state-of-the-art multi-use conference center, corporate concierge services, a full service fitness center and retail and restaurant options, we have a lot of exciting future plans for the property that will greatly benefit our residences at Williams Square.”
Franklin American Mortgage Company (FAMC) is recognized as one of the fastest-growing mortgage companies in the nation. Headquartered in Franklin, Tennessee, FAMC is a full-service professional mortgage banker licensed to provide residential mortgages across the nation. The company is dedicated to providing opportunities for families and individuals to achieve the dream of homeownership. Franklin American Mortgage Company was represented by Calvin Hull with Jones Lang LaSalle.
“The City of Irving is experiencing substantial growth and offers all the resources necessary for our company to thrive,” said Bobby Frank, executive vice president and director of operations of Franklin American Mortgage Company. “By renewing our lease at Williams Square, we not only have access to luxury office space in a high demand area, but we’re also able to take advantage of Las Colinas’s proximity to all the major corridors in the Metroplex. This includes easy access to DFW Airport and the region’s major highways, as well as the DART light rail line. Williams Square provides the total package.”
C-III Asset Management LLC, a wholly owned subsidiary of C-III Capital Partners, is a highly rated Special and Primary commercial mortgage loan servicer and one of the largest commercial mortgage-backed securities (CMBS) special servicers in the United States. C-III Asset Management, LLC was represented by Tom Lynn and Zach Stevens of NAI Robert Lynn.
“The Towers at Williams Square remains the region’s premier corporate address with some of the best amenities, and views, in North Texas,” said Barry Davis, chief operating officer of C-III Asset Management, LLC. “Located in the Las Colinas Urban Center, our employees have access to high-end restaurants, upscale residential and multifamily housing options and recreational activities along the canals of Las Colinas. With major projects such as The Irving Music Factory at Las Colinas and Water Street coming on line, access to a skilled workforce and a business-friendly environment, Las Colinas continues to be a highly desired location.
Las Colinas is considered by many real estate developers as a model for master-planned communities across the nation. Serving as the centerpiece of the Las Colinas Urban Center, which was developed by Ben Carpenter to transform his family ranch into a world class community, the Towers at Williams Square is composed of a 26-story central tower flanked by two 14-story towers. An adjacent five-story tower rounds out the space. The pink granite towers are covered by copper mansard roofs and linked by glass-walled arcades. The project is especially notable for incorporating elements of Carpenter’s international travels in the architecture, public spaces and even in the flower clock that still greets visitors entering the development.
“This is an exciting time for Irving and the Las Colinas Urban Center as momentum continues to build with the presence of so many notable companies,” said Rick Stopfer, Mayor of the City of Irving. “The lease renewals of Franklin American Mortgage and C-III Asset Management demonstrate that Las Colinas continues to be the corporate destination of choice for North Texas, and one of the strongest office markets in the state. The Irving City Council remains committed to improving and growing on this momentum, and building upon the amenities already in place and currently under construction.”
Located midway between Dallas Fort Worth International Airport and Dallas Love Field, directly along State Highway 114 and in close proximity to I-35E, Las Colinas is an ideal location for companies who conduct business throughout the region and around the world. The presence of the DART rail line connecting Las Colinas to Dallas Fort Worth International Airport makes it easier than ever for office customers to travel quickly and efficiently to their desired destinations.
WILLIAMS SQUARE OWNERSHIP:
ABOUT APOLLO GLOBAL REAL ESTATE
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Luxembourg, Madrid, Mumbai, Delhi, Singapore, Shanghai and Hong Kong. Apollo had assets under management of approximately $197 billion as of March 31, 2017 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. Apollo shares are listed on the New York Stock Exchange. For more information about Apollo, please visit www.agm.com.
ABOUT VANDERBILT PARTNERS
Vanderbilt Partners (“Vanderbilt”) is a vertically-integrated real estate investment manager focusing on office investment opportunities throughout the U.S. Since its founding in early 2014, Vanderbilt has participated in +$1.9 billion of acquisitions over 9 deals totaling approximately 12.0 million square feet. Vanderbilt offers a full-line of real estate investment and management services, yielding synergies and significant value for investors. Through its affiliate, Vanderbilt Office Properties (“VOP”), Vanderbilt provides property management, leasing and accounting services. VOP manages over 5.6 million square feet and leases approximately 2.0 million square feet. Casey Wold, Vanderbilt’s Managing Partner, has 35 years of real estate experience and has held senior management positions at Tishman Speyer, Trizec and Equity Office Properties.
ABOUT HILLWOOD URBAN
Hillwood Urban, a Perot company, combines Hillwood’s land development and office development, leasing and property management expertise with its existing multifamily and retail development groups, providing a complete urban office and mixed-use development capability. The team is currently designing new corporate office projects in the Dallas core, including projects at the intersection of Woodall-Rogers and Field Street, and another in Victory Park adjacent to the DART station. Hillwood Urban is marketing these projects to large corporate end users, while also seeking new opportunities for both urban and suburban tracts for mixed-use development located in the major growth corridors of North Texas.