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Lender completes ownership transfer of downtown Dallas skyscraper 56-story Renaissance Tower is now in the hands of a New York lender owned more than $100 million. Renaissance Tower on Elm Street was built in 1974 and remodeled in the 1980s.(DMN files / Staff Photographer) New York lenders have completed their takeover of one of Dallas’ biggest skyscrapers, the 56-story Renaissance Tower. A company organized by Square Mile Capital Group has been working to take control of the Elm Street office high-rise since owners were declared in default of financing. The deed documents filed with Dallas County say the change in ownership was “in consideration of the cancellation and extinguishment” of more than $100 million in debt Square Mile Capital provided for the building in 2017. ....
Lenders moving to take control of downtown Dallas skyscraper Renaissance Tower is one of Dallas’ biggest office high-rises. The 56-story Renaissance Tower on Elm Street, best known for its double X lighting and decorative towers on top, is downtown Dallas second-largest office building.(Jeffrey McWhorter / Special Contributor) A New York lender is taking control of one of Dallas’ biggest skyscrapers. The 56-story Renaissance Tower on Elm Street best known for its double X lighting and decorative towers on top is downtown’s second-largest office building. Last month, the lenders who hold more than $100 million in debt on the high-rise declared the mortgage in default and began procedures to transfer ownership of the building. ....
ADVERTISEMENT ADVERTISEMENT Real Estate Rumors: Comparato, Square Mile, Related Law360 (December 23, 2020, 3:48 PM EST) North American Development Group has purchased a shuttered golf course in Boca Raton, Florida, for $33.3 million, and could do a residential redevelopment of the property, the South Florida Business Journal reported Wednesday. The deal is for Mizner Trail Golf Club, which sits on 128.3 acres and in 2014 received local approval for a 252-home development project, and the seller is an entity managed by investor Robert Comparato, according to the report. Square Mile Capital has loaned $205 million to a joint venture of Silverstein Properties and Taconic Partners for a New York mixed-use property, Commercial Observer reported Wednesday. The loan. ....