Hillwood Urban’s premier Class AA building reaches over 94% leased with Scotiabank’s 133,000-square-foot expansion
Hillwood Urban, known for shaping vibrant, sustainable urban spaces, proudly welcomes Scotiabank to Victory Commons One, a premier 15-story Class AA tower in the heart of Victory Park. This exciting partnership marks a major milestone in the continued evolution of Dallas’ business landscape.
Scotiabank, one of North America’s leading financial institutions and largest banks in North America by assets, will occupy 133,000 square feet across four floors as part of its continued expansion into the U.S. market. The move deepens Scotiabank’s partnership with Hillwood and underscores Dallas’ growing position as a global financial hub.
“We’re pleased to welcome Scotiabank to Dallas,” said Ross Perot, Jr., Chairman of Hillwood and The Perot Companies. “Our team spent a lot of time working with their leadership to confirm that Dallas was right for them, with the workforce and talent to support their expansion. We’re proud they chose North Texas for their continued growth and look forward to being a partner in their success.”
“Dallas is one of the most dynamic cities in the country, with a thriving business community and unmatched energy for growth. Establishing our new office here reflects both Scotiabank’s long-term commitment to the U.S. and our belief in Dallas as a center for opportunity. We extend our thanks to Governor Abbott and Mayor Johnson for their support in making Dallas a place where businesses and communities can succeed together,” said Scotiabank Global Banking and Markets CEO and Group Head Travis Machen.
Victory Commons One, completed in 2022 by Hillwood Urban in partnership with Affinius Capital, is now more than 90 percent leased. The building offers state-of-the-art amenities, including a one-acre landscaped park, a 4,000-square-foot private tenant lounge, a fitness center, and a 5,000-square-foot sky garden overlooking the Dallas skyline.
“Launching our Dallas office at Victory Commons is a game-changer for Scotiabank’s U.S. growth. It accelerates our momentum and unlocks powerful new ways to connect the North American corridor, setting us apart in a big way,” said Nicole Frew, U.S. Co-CEO
“Dallas offers an incredible opportunity to expand alongside one of the fastest growing local economies in the country, and our regional hub will allow us to build meaningful local partnerships while supporting our clients and teams across the U.S.,” explained Brian Lehman, U.S. Co-CEO.
Located in Uptown, close to Field Street and at the intersection of I-35 and the Dallas North Tollway, with direct access to DART light rail and the Trinity Railway Express, Victory Commons one offers unmatched connectivity across North Texas and to both major airports.
“Scotiabank is a tremendous addition to the Victory Commons One community,” said Bill Brokaw, Senior Vice President of Hillwood Urban. “Their presence further validates this location and building as the premier workplace product in Dallas’ expanding financial district.”
CBRE team of Michael Geoghegan, Ramneek Rikhy, Eric Thomas, Phil Puckett and Harlan Davis represented Scotiabank throughout the transaction. Brokaw and Karch Schreiner of Hillwood Urban represented the property owner.
“Scotiabank’s decision to establish a major presence in Dallas reflects the strength of our region’s financial services ecosystem,” said Mike Rosa, Senior Vice President of Economic Development, Dallas Regional Chamber. “Dallas offers a combination of talent, infrastructure, and business climate that global companies need to grow and thrive. We look forward to supporting Scotiabank as they become part of our business community.”
Looking ahead, Hillwood Urban is advancing plans for the next phase of Victory Commons, to establish a large-scale financial campus environment in the heart of Dallas. In addition, Hillwood Urban has several development sites in Uptown and Turtle Creek primed for new construction, further positioning the company to meet the needs of leading global corporations.
Media Contacts:
Hillwood: James Fuller
Email: [email protected]
Mobile: 240.393.1369
Scotia Bank: Drew Westervelt
Email: [email protected]
Mobile: 646-984-7862
About Affinius Capital
Affinius Capital® is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $62 billion in gross assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
About Hillwood Urban
Hillwood Urban combines Hillwood’s land development and office development expertise together with its existing multifamily and retail development groups, providing a complete urban office and mixed-use development capability. The team completed the Perot corporate office project on Turtle Creek Boulevard and recently completed development of the Victory Commons One office building in Victory Park. Hillwood Urban also has an office project in the design phase at the intersection of Woodall-Rogers and Field Street and has partnered with the Four Seasons to develop a luxury hotel and urban living condominium complex at 3001 Turtle Creek Boulevard. Hillwood Urban is marketing these highly amenitized office projects to large corporate end users, while also seeking new opportunities for both urban and suburban tracts for mixed-use development located in the major growth corridors of North Texas. For more information, visit www.hillwoodurban.com.
About Scotiabank
Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: “for every future,” we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at July 31, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.