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Investor Snaps Up KPMG Tower In Arts District


An undisclosed investor snapped up KPMG Plaza at Hall Arts.

Developer Hall Group's Craig Hall sold the newly completed 450k SF KPMG Plaza to raise cash for a luxury high-rise and boutique hotel, according to the Dallas Business Journal. The DBJ estimates the tower sold for about $225M. Craig’s company will continue to operate, maintain and lease KPMG Plaza.

The new 11-story, 231-key hotel will have 7k SF of meeting space, several public areas and restaurants. The residential sector will consist of 44 condos from the 12th to 25th floor of the tower.

Craig is also planning a 50-story office and condo tower with ground-floor dining. [DBJ]