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Dallas' 440-unit Mosaic paints a new picture with saleDallas' 440-unit Mosaic paints a new picture with salehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=23872014-11-21T07:43:00Z2014-11-21T06:44:00Z

DALLAS - Downtown Dallas’ largest loft apartments — the 440-unit Mosaic — has a new owner. 

The two-building rental community, at Akard St. and Bryan St., has been for sale for several months. The Mosaic cost more than $90 million to develop in 2006 and 2007. The new owner says it plans a multimillion-dollar renovation.

The former office buildings — a 21-story building constructed in 1952 and a 31-story tower added in 1962 — previously housed Fidelity Union Life Insurance Co.

“Mosaic is a huge milestone for Olympus Property,” co-founder Anthony Wonderly said. “The Mosaic is our first high-rise and located close to our corporate headquarters.”

Olympus Property purchased the project from Chicago real estate investors who acquired the buildings in 2010.

Dallas Morning News
Dallas-Fort Worth-Arlington
Multifamily
http://www.dallasnews.com/business/residential-real-estate/20141119-downtown-dallas-mosaic-loft-apartment-towers-sell-to-investors-who-plan-renovation1.eceRead more at {Source}

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