Blackstone’s corporate support subsidiary is following the real estate giant to the metroplex.
Revantage plans to open a new Dallas corporate office that will employ a minimum of 160 workers, according to the Dallas Morning News.
The Chicago-based firm provides support services to Blackstone’s real-estate arm such as valuations, management, accounting, insurance, tax consulting and human resources. Along with its headquarters in the windy city, Revantage also has offices in Europe and Singapore.
The Blackstone subsidiary is seeking $1 million in economic incentives for the project. The Dallas city council is set to vote on the matter this week. The resolution requires that the company sign a lease for at least 50,000 square feet of space in Dallas’ central business district by April 28, 2023 and that “the average annual salary for the employees who fill full-time jobs at the Dallas Corporate Office shall be $120,000.”
Potential sites for the new Revantage headquarters include the QUAD and 23Springs buildings in Uptown, the East Quarter development downtown, Victory Park and the Epic development in Deep Ellum.
The city is considering a variety of grants to help fund the new office
A Revantage location would go nicely with the incoming new KKR debt servicing office announced earlier this year. Both KKR and Blackstone have been increasingly active in North Texas since the pandemic.
Blackstone and its affiliate entities own millions of square feet of real estate in North Texas.
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