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**Creation Equity, PGIM Real Estate Secure $65.5M Loan for Dallas Industrial Development**
Creation Equity and PGIM Real Estate have secured $65.5 million in financing for a major industrial development in Dallas, totaling nearly 600,000 square feet. The funding was provided through a joint effort by Veritex Bank and Comerica Bank.
The upcoming project, named 635 Exchange, is expected to be completed by October 2026. LGE Design Build has been selected to lead both the architectural design and general contracting work. Stream Realty Partners will be responsible for leasing.
The 635 Exchange site is located at 11645 Newberry Street on a repurposed former Dallas city landfill. The approximately 36-acre property will feature three rear-load industrial buildings, ranging in size from 144,216 to 243,472 square feet.
JLL’s Greg Napper, Luke Rogers, and Charlie Mossy represented the borrowers in securing the debt.
Creation Equity currently has an industrial development pipeline valued at $1.8 billion. Earlier this year, the company acquired another 38-acre site in the Dallas-Fort Worth Metroplex for the development of a 451,032-square-foot industrial complex, which will also consist of three buildings.
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