The venture plans a multimillion-dollar, hospitality-forward repositioning to elevate the asset to a level of experience befitting its prime location.
Montclif and FCP® are pleased to announce the acquisition of 2401 Cedar Springs, a seven-story, 200,000 square-foot office building located at the intersection of Maple Avenue and Cedar Springs Road, in the thriving Uptown Dallas submarket. 2401 Cedar Springs marks the first Dallas acquisition for the venture since Montclif launched in April 2026.
2401 Cedar Springs sits immediately north of the Crescent, adjacent to 23 Springs, and is proximate to the Quad redevelopment and the Katy Trail. The building serves as JLL’s Central Region headquarters and is home to Nuri Steakhouse on the ground floor. The surrounding mixed-use environment includes trophy office, award-winning restaurants, and a wide range of corporate housing and hotels, a combination that continues to draw marquee corporate users to the submarket.
The partnership is planning a multimillion-dollar renovation of the building, including a completely reimagined lobby experience, a new state-of-the-art conference center, and a renovated lower level wellness floor combined with a holistic shift in the tenant experience through a new hospitality-focused management team. More details will be shared in the coming months.
“2401 Cedar Springs is the quintessential value-add opportunity,” said Erik Weinberg, Co-Founder of Montclif. “It is a well-located, well-built asset that sits well below its potential, in a submarket that looks nothing like it did five or ten years ago. The clustering of financial services, legal and professional services firms in Uptown Dallas continues to demonstrate the strength, vibrancy and appeal of the location. Because of these attributes, clear rent growth has followed. Our plan is to invest into that momentum and deliver a repositioned building whose experience matches its address.”
Montclif and FCP extend their appreciation to Jonathan Napper, Bailey Wood and Rett Daugbjerg of JLL, who represented the seller in the transaction, as well as Greg Napper and Blake Tyson, also of JLL, for sourcing acquisition financing. Blake Shipley, James Esquivel, and Ashley Curry of JLL have been retained to lease the asset on behalf of the venture.
About Montclif:
Montclif is a commercial real estate investment firm based in Chevy Chase, Maryland, focused on acquiring high-quality, income-producing office and mixed-use properties in major East Coast and Sun Belt markets. Founded by Erik Weinberg and Jackson Prentice, the firm currently pursues value-add, opportunistic returns through deeply discounted purchases of institutional-quality assets that require light capital improvements and active asset management. For further information on Montclif, please visit montclif.com.
About FCP:
FCP®, a subsidiary of Federated Hermes, Inc., is a real estate investment company that has invested in or financed more than $14.8 billion in gross asset value since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and structured investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit fcpdc.com.
