UT McCombs School of Business Joins The Centrum

D Magazine :: March 20, 2019 September 19, 2019
With Centrum's redo wrapping up, Dallas investor modifies $67.1M loan

With Centrum's redo wrapping up, Dallas investor modifies $67.1M loan

Quadrant Investment Properties LLC is wrapping up construction on the major $25 million renovation, and, in doing so, has modified an existing loan.

By modifying the $67.1 million loan, Quadrant will be able to complete construction and stabilize the asset, said Founder Chad Cook.

"Most of the heavy lifting will be finished in the next 30 days," Cook told the Dallas Business Journal."We will have some trailing work on Wellborn that will be finished by year end."

The upgrades are helping make way for a new restaurant lineup at The Centrum.

By late October, a dual-concept of Mudsmith and Pints and Quarts (concepts by Dallas restauranteur Brooke Humphries), as well as a new Italian concept, Mille Lire, will open in the Oak Lawn building.

The new eateries will join existing restaurants, Steel Sushi and Mattitos. Cook said he is "very close," on landing a group fitness concept in The Centrum.

And, Cook said, he expects the completed makeover of The Centrum to be a draw to office-seeking tenants. The property is more than 70 percent occupied.

Dallas-based Scott+Reid General Contractors are working on the project. Dallas-based Merriman Anderson/Architects Inc. is the project architect.

Hamilton Realty Finance represented Quadrant Investment Properties in securing the $67.1 million loan through Mesa West Capital.

"We still have quite a few details to iron out, but we are very pleased with the way things are coming together," Cook said.

Quadrant is also redeveloping an adjacent property as part of the investment firm's vision for this part of the city.

June 10, 2020 3:53-3:53AM

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