{"id":446860,"date":"2026-09-25T01:24:09","date_gmt":"2026-09-25T01:24:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/446860\/"},"modified":"2026-09-25T01:24:09","modified_gmt":"2026-09-25T01:24:09","slug":"downtown-dallas-office-tower-faces-foreclosure-over-79m-unpaid-loan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/446860\/","title":{"rendered":"Downtown Dallas office tower faces foreclosure over $79M unpaid loan"},"content":{"rendered":"

A downtown Dallas office tower is facing foreclosure months after its owners failed to pay off a $79 million loan before the due date, records show.<\/p>\n

Lenders are seeking to auction 2100 Ross Ave<\/a>., a 33-story high-rise owned by a partnership affiliated with Dallas-based Woods Capital and Pacific Elm Properties, in early October. Woods Capital CEO Jonas Woods and Pacific Elm CEO Bill\u00a0Prewitt\u00a0did not immediately respond to questions about the looming foreclosure.<\/p>\n

The group originally owed $98 million against the property. In June, Fitch Ratings classified the $79 million 2100 Ross loan<\/a> as a nonperforming matured balloon loan in May, meaning the debt wasn\u2019t paid off or refinanced before it was due.<\/p>\n

The tower was flagged for foreclosure<\/a> according to Roddy\u2019s Foreclosure Listing Service, The Real Deal reports. The property was valued at $99.4 million for property tax purposes.<\/p>\n

The 840,000-square-foot tower on the edge of the Arts District was built in the 1980s. In 2015, a partnership headed by Dallas businessman Tom Dundon <\/a>purchased the tower for $131 million from Atlanta-based Cousins Properties. Dundon, the former CEO of Santander Consumer USA, owns the NHL\u2019s Carolina\u00a0Hurricanes and the NBA\u2019s Portland Trailblazers.<\/p>\n

Dundon listed the property<\/a> in 2019. A partnership tied to Woods, a longtime business partner and friend of Dundon, took ownership. Woods Capital is a\u00a0subsidiary of Pacific Elm Properties. Woods was a founder of Pacific Elm Properties\u00a0alongside Prewitt.<\/p>\n

Like a handful of other downtown properties, 2100 Ross has seen key tenants leave its building in recent years. Lockton and its 400 employees announced last year that was taking 100,000 square feet in Hillwood\u2019s Victory One Commons<\/a> in Victory Park. The move was set for early 2026. Real estate giant CBRE\u2019s lease at the high-rise expired in March 2022. Prudential announced in July that it was shifting its office space away from 2100 Ross to downtown\u2019s Trammell Crow Center and Uptown\u2019s 23Springs.<\/p>\n

The property is only 53% occupied, reports filed in county court show. A Dallas County court named asset management firm Trigild IVL as the appointed receiver over the tower.<\/p>\n

Downtown Dallas has struggled with office vacancy with the Arts District outperforming the West End and the Central Business District submarkets. The vacancy rate in the Arts District is 25.6%, not far off the region average. However, the Central Business District core\u2019s vacancy rate climbed to 37% in the second quarter of this year, according to a report from real estate firm Cushman and Wakefield.<\/p>\n","protected":false},"excerpt":{"rendered":"A downtown Dallas office tower is facing foreclosure months after its owners failed to pay off a $79…\n","protected":false},"author":2,"featured_media":446861,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[102,104,103],"class_list":["post-446860","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dallas","tag-dallas","tag-dallas-headlines","tag-dallas-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/446860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=446860"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/446860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/446861"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=446860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=446860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=446860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}