Preston Hollow Community Capital Completes $85 Million Bond Purchase for Mixed-Use Development in Westbrook
Preston Hollow Community Capital (“PHCC”) recently announced the purchase of $85.7 million in tax-exempt revenue…
Dallas – Preston Hollow Community Capital (“Preston Hollow” or “PHCC”), a provider of specialized impact financing solutions for projects of social and economic importance to local communities, has relocated its headquarters to PwC Tower at Park District in Uptown Dallas. PHCC occupied its new space overlooking Klyde Warren Park in spring 2023
“This move represents a significant milestone for our business and an elevation of our workplace,” said Jim Thompson, Preston Hollow’s Chairman and CEO. “We were drawn to the state-of-the-art design and amenities of the building and the walkability of the neighborhood. The efficient, collaborative workspace we’ve created will help us attract and retain top talent as we grow.”
Located at 2121 North Pearl Street, the 20-story, 500,000-square-foot Class A office tower offers a modern tenant lounge, conference center, state-of-the-art fitness center, collaboration spaces, and outdoor green spaces.
The move coincides with the expiration of PHCC’s eight-year lease at Comerica Bank Tower. Scott Hage of JLL represented PHCC in lease negotiations. Jeff Funderburk of BHA designed the sixth-floor space for Preston Hollow, and Metroplex General Contractors served as GC for the project.
Preston Hollow Community Capital is a market leader in providing specialized impact finance solutions for projects of significant social and economic importance to local communities in the United States. The Company invests in bespoke municipal finance transactions with a diversified investment portfolio. PHCC has invested over $4.8 billion since its inception across various sectors of the municipal bond market, including real estate, K-12 and higher education, healthcare, infrastructure, hospitality, general government, and economic development.
Since its inception, Preston Hollow has raised $1.6 billion in committed, permanent equity capital from premier sponsors like Stone Point Capital, HarbourVest Partners and TIAA. The Company has received long-term BBB (Stable) and short-term K2 (Stable) ratings from Kroll Bond Rating Agency.
Preston Hollow Community Capital