TPG Recapitalizes Large Office Portfolio in Dallas’ Harwood District

San Francisco & Dallas, TX — TPG, a leading global alternative asset management firm, today announced that it acquired a portfolio of office assets (the “Portfolio”) throughout the Harwood District (the “District”), a 30-plus acre mixed-use development in Dallas, Texas. TPG Real Estate will recapitalize the five-building portfolio in partnership with the District’s developer Harwood International (“Harwood”), who has retained a minority interest as a co-investor in the Portfolio. 

The Portfolio includes 1.2 million square feet of Class A office space across 2727 Harwood, 2728 Harwood, 2850 Harwood, Frost Tower, and Saint Ann Court. Situated in the heart of “Y’all Street,” the growing Wall Street of the South, the District is home to a diverse portfolio of leading tenants. TPG Real Estate will invest significant capital across the Portfolio to provide high-quality office space and enhanced tenant experiences. This includes plans to immediately commence renovations at 2727 Harwood, Frost Tower, and Saint Ann Court, which will feature significant lobby upgrades, new tenant amenity offerings, and substantial garden and green scape enhancements.

“The centrally located District has long been a world-class destination for working, living, and experiencing Dallas,” said Jacob Muller, Partner at TPG. “With surging demand for premium office space across the submarket, we look forward to making strategic investments to modernize each property, enhance the tenant and visitor experience, and meet the workplace needs of premier tenants across the District.”  

“Dallas is at an exciting inflection point, and the Harwood District is positioned at the center of its continued transformation into a global destination,” said Oliver Barbier-Mueller, Co-President of Harwood International. “With TPG’s investment, the Portfolio is well-positioned to capitalize on momentum across the metroplex and expand the District’s ability to deliver a thriving, interconnected community where businesses and individuals flourish,” said Alexis Barbier-Mueller, Co-President of Harwood International.

TPG Real Estate has partnered with OliveMill Holdings, a full-service commercial real estate operator in the Dallas area, to help oversee operations of the office assets across the Portfolio. The partnership has engaged CBRE to oversee property management and leasing for the Portfolio. Harwood will continue to independently operate the best-in-class retail destinations and restaurants located throughout the District. 

The Harwood District is recognized as one of the nation’s premier mixed-use destinations, welcoming more than 2 million tenants and visitors annually. The District is home to a wide array of restaurants, cultural venues, MICHELIN-recognized hospitality offerings, and top-tier residential options, with access to key transportation nodes.

Harwood was represented by Newmark Executive Vice Chairman Bill Fishel, Vice Chairman Chris Murphy, President of North America Capital Markets Chad Lavender, and Executive Vice Chairman Alex Foshay.

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $286 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

About Harwood International

Harwood International is a globally recognized family-owned real estate firm renowned for its iconic “jewel box” assets in Dallas and abroad. Headquartered in the Harwood District of Uptown Dallas, the company has delivered a portfolio that spans luxury residences, Class AA office towers, hotels, and restaurants, each defined by timeless design and a commitment to excellence. Founded in 1988, Harwood International is an international real estate firm active in select niche markets including Dallas, Geneva, and London’s West End. Their vertically integrated real estate platform enables seamless execution across development, leasing, property management, asset management, and hospitality, ensuring consistently high standards across their portfolio. This proven track record and long-term vision underscores Harwood’s ability to execute, operate, and elevate best-in-class assets through multiple cycles.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

About OliveMill Holdings

OliveMill Holdings is a privately owned, leading real estate investor and operator based in Dallas, TX.  Founded in 2020, the firm was designed to specialize in acquiring, repositioning and operating Class A office properties. OliveMill targets assets that are well located in commercial and employment growth centers to maximize returns and long-term value. Operations are focused on customer service, sustainability, safety, and superior tenant experiences, with an ultimate goal of leaving places better than they were found.

Contacts

TPG
Courtney Power
media@tpg.com

Harwood International
Jessica Reid
jreid@harwoodinc.com 

Newmark
Alexa Nestlerode
alexa.nestlerode@nmrk.com

Deb Bergman 
deb.bergman@nmrk.com