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Blackstone firm eyes new Dallas office with at least 160 workers

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A division of one of the nation’s largest real estate investors is planning a new business in Dallas.

Based in Chicago, Revantage is a global service provider to Blackstone, one of the world’s largest real estate private equity investment managers.

Revantage plans to open a new “Dallas headquarters” that will employ at least 160 people, according to information provided to the Dallas City Council’s Economic Development Committee.

The council will vote this week to provide Revantage with financial incentives of up to $1 million.

A legislative resolution requires Revantage to sign leases for at least 50,000 square feet of space in Dallas’ central business district by April 28, 2023. “The average annual salary for a full-time employee at our Dallas headquarters is $120,000.”

Revantage is considering multiple office locations, including the new Quad and 23Springs buildings uptown, the East Quarter development downtown, Victory Park and the Epic development in Deep Ellum.

The city is considering various grants to fund the new offices.

Revantage is headquartered in Chicago with offices in Europe and Singapore.

The company provides valuation, management, accounting, insurance, tax consulting and human resources services for Blackstone properties, including logistics, rental housing, offices, hospitality and retail facilities in North America, Europe and Asia. Blackstone and its companies own millions of square feet of real estate in North Texas.

According to the company’s own description, “Revantage supports thousands of assets and billions in enterprise value for Blackstone’s real estate portfolio companies and their partners.”

Revantage has already advertised vacancies in its new Dallas office. This is one of several new financial services businesses landing in downtown Dallas.

Earlier this year, global investor KKR A new real estate credit office will be established in Dallas to provide investment property debt service, loan asset management and investment oversight for the company’s real estate credit business.

and New York-based Goldman Sachs plans to place 5,000 employees in new offices to be built just north of downtown.

Revantage is also considering the new 300 S. Pearl Building in an East Quarter development in downtown Dallas.(Rebecca Slezak/Staff Photographer)

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