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Foreclosure auction brings $64.2M for Dallas towerForeclosure auction brings $64.2M for Dallas towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=42522014-05-08T12:37:00Z2014-05-08T00:00:00Z

DALLAS - The 18-story tower at 3500 Maple Ave. has been sold for $64.2 million at a foreclosure auction.

The tower, which was built in 1985, sits near Reverchon Park near Turtle Creek, and is 56 percent occupied. It was last valued at $51.9 million, according to the Dallas Central Appraisal District.

Wells Fargo, the lender for the tower, posted the 376,710-sf mirrored glass high-rise building for foreclosure soon after the previous ownership group, known as NNN 3500 Maple VF 2003 & LLC, went through the Chapter 11 bankruptcy process.

The auction brought out more than 25 bidders to the Dallas courthouse, said George Roddy Sr., president of Addison-based Foreclosure Listing Service Inc.

Dallas Business Journal
Dallas-Fort Worth-Arlington
Office
http://www.bizjournals.com/dallas/news/2014/05/07/maple-avenue-high-rise-tower-sells-64-2m-at.htmlRead more at {Source}

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