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Downtown Dallas office tower faces foreclosure auction over $79M loan default

The 840,000-square-foot building at 2100 Ross Ave. was scheduled for an Oct. 6 auction if the owners do not reach a lender deal.

Reported · Written up by our desk · Commercial

A 33-story office tower in Dallas Arts District could be sent to foreclosure auction after its owners allegedly failed to pay off a $79 million loan by the due date, Bisnow reported. The building is located at 2100 Ross Ave. and spans about 840,000 square feet.

Bisnow said the debt was previously labeled nonperforming, and it was described as a matured balloon loan after it was not paid in full or refinanced earlier this year.

The tower was valued at more than $99.4 million this year by the Dallas Central Appraisal District, according to the article. Bisnow added that the foreclosure could be avoided if the owners work out a deal with lenders before the planned Oct. 6 auction, and that Woods Capital and Pacific Elm Properties did not respond to requests for comment.

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