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Bandera Ventures JVs To Buy Ross Tower

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Bandera Ventures JVs To Buy Ross Tower

Bandera Ventures JVed with Second City Real Estate and HPI Real Estate for the acquisition of a Downtown Dallas icon, Ross Tower, according to the Dallas Morning News, which reports the sale at more than $120M. The Dallas County Appraisal District values the tower at about $70M and lists CalSTRs as the owner. The 45-story building, formerly known as Lincoln Plaza, was completed in 1982 and is only 50% leased since Fireman’s Fund Insurance Co did not renew its space. [DMN]