One of downtown Dallas’ largest skyscrapers is facing foreclosure — the largest foreclosure filing in the Dallas area since the start of the COVID-19 pandemic.
The 56-story Renaissance Tower — best known for its double X lighting and decorative towers on top — is owned by a New York investment group. It was the tallest building in Dallas when it opened in 1974, and it’s the second-largest downtown building in terms of office space, behind only the 72-story, 1.8 million-square-foot Bank of America Plaza.
The 1.73 million-square-foot skyscraper has been for sale for several months and is only about 65% leased.
Renaissance Tower is facing foreclosure after defaulting on loans, according to reports from real estate information service Costar.
Since 2006, the Elm Street building has been owned by a partnership headed by New York-based Moinian Group and SMA Equities.
The owners got $118 million in new financing for the