{"id":450889,"date":"2025-12-16T12:25:11","date_gmt":"2025-12-16T12:25:11","guid":{"rendered":"https:\/\/www.europesays.com\/us\/450889\/"},"modified":"2025-12-16T12:25:11","modified_gmt":"2025-12-16T12:25:11","slug":"luxury-hotel-chain-owner-buys-downtown-dallas-office-tower","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/450889\/","title":{"rendered":"Luxury hotel chain owner buys downtown Dallas office tower"},"content":{"rendered":"<p class=\"body-text-paragraph\">An office tower in Dallas\u2019 Arts District has traded to a new owner.<\/p>\n<p class=\"body-text-paragraph\">An affiliate of TRT Holdings, a Dallas-based investment firm that owns the luxury Omni Hotels &amp; Resorts chain, purchased St. Paul Place (<a href=\"https:\/\/www.loopnet.com\/Listing\/750-N-Saint-Paul-St-Dallas-TX\/36985417\/\" target=\"_blank\" rel=\"noopener\" title=\"https:\/\/www.loopnet.com\/Listing\/750-N-Saint-Paul-St-Dallas-TX\/36985417\/\">750 N. Saint Paul St.<\/a>) from Pacific Elm Properties, county deed records show.<\/p>\n<p class=\"body-text-paragraph\">TRT Holdings was founded by <a href=\"https:\/\/www.dallasnews.com\/business\/local-companies\/2016\/04\/19\/in-rare-interview-omni-owner-bob-rowling-gets-last-laugh-20-years-after-purchase\/\" target=\"_blank\" rel=\"noopener\" title=\"https:\/\/www.dallasnews.com\/business\/local-companies\/2016\/04\/19\/in-rare-interview-omni-owner-bob-rowling-gets-last-laugh-20-years-after-purchase\/\">Dallas billionaire Robert Rowling<\/a> and his father, Reese. The deal for the green glass tower closed Dec. 2. <\/p>\n<p class=\"body-text-paragraph\">Terms of the deal were not disclosed. Attempts to contact both parties were not returned before publication. <\/p>\n<p class=\"body-text-paragraph\">Built in 1983, the almost 275,000-square-foot office high-rise is 22 stories. The Dallas Central Appraisal District valued the property at just over $47 million for tax purposes.<\/p>\n<p>D-FW Real Estate News<\/p>\n<p class=\"dmnc_features-cta-social-article-cta-social-module__3beff secondaryRoman secondaryRoman-20 text-center text-gray-dark\">Get the latest real estate news you need to know.<\/p>\n<p class=\"dmnc_features-cta-social-article-cta-social-module__8MgJa flex flex-wrap text-gray-dark secondaryRoman secondaryRoman-10 text-center justify-center\">By signing up, you agree to our\u00a0<a class=\"dmnc_features-cta-social-article-cta-social-module__lU9-l border-b border-gray-dark hover_border-0 focus_border-0 active_border-0\" href=\"https:\/\/www.dallasnews.com\/help\/terms-of-service\/\" target=\"_blank\" rel=\"noopener\">Terms of Service<\/a>\u00a0and\u00a0<a class=\"dmnc_features-cta-social-article-cta-social-module__lU9-l border-b border-gray-dark hover_border-0 focus_border-0 active_border-0\" href=\"https:\/\/www.dallasnews.com\/help\/privacy-policy\" target=\"_blank\" rel=\"noopener\">Privacy Policy.<\/a><\/p>\n<p class=\"body-text-paragraph\">Tenants include real estate information firm CoStar Group, Mayer LLP and others. More than 23,500 square feet of office space was available for sublease, according to a listing for the property. <\/p>\n<p class=\"body-text-paragraph\">CoStar News reports the property underwent months of renovation following a flood in April.<\/p>\n<p class=\"body-text-paragraph\">Pacific Elm <a href=\"https:\/\/www.dallasnews.com\/business\/real-estate\/2023\/04\/25\/jonas-woods-firm-adds-another-downtown-dallas-tower-to-its-growing-portfolio\/\" target=\"_blank\" rel=\"noopener\" title=\"https:\/\/www.dallasnews.com\/business\/real-estate\/2023\/04\/25\/jonas-woods-firm-adds-another-downtown-dallas-tower-to-its-growing-portfolio\/\">purchased the property<\/a> in 2023 from Dallas-based Quadrant Investment Properties. The acquisition was financed with a $66.7 million loan from MetLife Commercial Mortgage.<\/p>\n<p class=\"body-text-paragraph\">Pacific Elm has invested in multiple downtown properties, including 2100 Ross, Bryan Tower and Santander Tower. <\/p>\n<p class=\"body-text-paragraph\">Quadrant Investments purchased St. Paul Place in 2016 and completed a multimillion dollar renovation of the property, including a revamped ground-floor lobby and outdoor patio spaces. <\/p>\n<p class=\"body-text-paragraph\">The transaction is one of several in Dallas\u2019 urban core in 2025. The <a href=\"https:\/\/www.dallasnews.com\/business\/real-estate\/2025\/10\/03\/d-fw-real-estate-roundup-office-tower-overlooking-klyde-warren-park-sells-for-2025-record\/\" target=\"_blank\" rel=\"noopener\" title=\"https:\/\/www.dallasnews.com\/business\/real-estate\/2025\/10\/03\/d-fw-real-estate-roundup-office-tower-overlooking-klyde-warren-park-sells-for-2025-record\/\">largest office sale to date<\/a> was John Goff\u2019s Crescent Real Estate purchase of the Texas Capital Center building at 2000 McKinney Ave. The exact sales price was not disclosed.<\/p>\n","protected":false},"excerpt":{"rendered":"An office tower in Dallas\u2019 Arts District has traded to a new owner. An affiliate of TRT Holdings,&hellip;\n","protected":false},"author":3,"featured_media":450890,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5135],"tags":[5229,12611,1596,14052,4329,358,3187,67,586,132,5230,68,2969],"class_list":{"0":"post-450889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dallas","8":"tag-america","9":"tag-commercial-real-estate","10":"tag-dallas","11":"tag-downtown-dallas","12":"tag-real-estate","13":"tag-texas","14":"tag-tx","15":"tag-united-states","16":"tag-united-states-of-america","17":"tag-unitedstates","18":"tag-unitedstatesofamerica","19":"tag-us","20":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115729238213673320","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/450889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=450889"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/450889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/450890"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=450889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=450889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=450889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}