March 24, 2026
Sixth Street Recapitalizes Bank of America Tower at Parkside
Trophy Office Development in Uptown Submarket of Dallas
San Francisco, March 24, 2026 – Sixth Street, a leading global investment firm, today announced its investment in Bank of America Tower at Parkside (the “Tower” or the “Property”) as part of a joint venture with Pacific Elm Properties, a Dallas-based real estate investment and development firm. Through the transaction, Sixth Street provided a structured equity investment to recapitalize the Property, while Pacific Elm Properties will continue to lead the project’s development.
The Class-AA property comprises approximately 500,000 rentable square feet (“RSF”) and is partially leased to Bank of America on a long-term lease. Currently under construction, the 30-story tower is expected to be completed in the first quarter of 2027. The Property will feature approximately 6,500 RSF ground-floor retail, a 12th-floor Sky Lobby, and a range of premium amenities, including outdoor terraces, a state-of-the-art fitness center, expansive meeting and event space, valet parking, dry cleaning, and 24/7 security. The Property is positioned adjacent to Klyde Warren Park in the heart of Uptown Dallas, offering immediate access to one of the city’s most dynamic live-work-play environments and seamless connectivity across the broader Dallas-Fort Worth metroplex.
“Bank of America Tower at Parkside reflects our conviction in trophy office located in highly desirable submarkets with limited availability,” said Adam Rapport, Managing Director at Sixth Street. “Uptown Dallas is a notably active office submarket which benefits from one of the lowest Class-AA office vacancy rates in the country outside of New York. We are proud to partner with Pacific Elm Properties to help deliver a premier workplace destination in Dallas, combining an exceptional location and best-in-class hospitality amenities.”
“The Klyde Warren Park corridor is Dallas’ cultural center of gravity and the heart of North America’s fastest growing finance hub,” said Billy Prewitt, Chief Executive Officer at Pacific Elm Properties. “Bank of America Tower at Parkside sits at the center of the park and will be the tallest tower ever built in Uptown Dallas. Many people are already referring to it as Y’all Street’s flagship tower. We’re proud to be partnering with Sixth Street to deliver this landmark to the Dallas skyline.”
Sixth Street Real Estate invests directly in properties, provides solutions across the capital structure—including equity, preferred equity, and debt—and partners with sector-related operating businesses. The firm’s real estate investments span a wide range of asset classes, including residential, office, hospitality, industrial, data centers, retail, and other specialized sectors.
About Sixth Street
Sixth Street is a global investment firm with over $130 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 700 team members including over 300 investment professionals around the world.1 For more information, and additional disclosures, visit www.sixthstreet.com, and follow Sixth Street on LinkedIn.
1Total Sixth Street employees as of 10/31/2025
About Pacific Elm Properties
Pacific Elm Properties is a Dallas-based, vertically integrated real estate firm focused on the acquisition, development, and management of office and mixed-use properties. The firm’s portfolio includes office, residential, hospitality, and retail assets primarily located in the Dallas Central Business District. Over more than 30 years, the Pacific Elm team has completed over $6 billion in real estate acquisition and development transactions spanning office, residential, industrial, retail, and mixed-use properties.