Three Dallas office buildings facing foreclosure

DALLAS – Three Dallas office buildings are facing foreclosure including:

• Downtown Dallas — The 12-story 2020 Live Oak building. The owner, a real estate partnership, has defaulted on a $13.9 million loan from United Central Bank. The building is being used as a data center.
• Far North Dallas — The three-story, 114,420-sf 17655 Waterview Parkway building. Owner Behringer Harvard has defaulted on a $70.5 million loan. The building is completely vacant.
• Oak Lawn — The 18-story, 376,710-sf 3500 Maple office tower. Owner NNN 3500 Maple LLC has defaulted on a $47 million loan. The building is currently about 60 percent leased.

Not all properties posted for foreclosure sale each month are sold by lenders. In many cases the sale is delayed while the parties involved negotiated. And in some cases the borrower and lender reach new loan agreements.