The new loan is 4.4% below the $400M HSBC mortgage of 2019, and HSBC's debt was assigned to Wells Fargo before consolidation.
Wells Fargo
Every story on The American Developer that names Wells Fargo, 6 and counting.
The downtown Dallas landmark, bought after Woods' Alliance of American Football venture folded, is now a test of whether the city's office glut has bottomed.
The permanent financing is agency debt, and the affordable set-aside is what got it there.
A June announcement said $312.2 million. The August deed says $310,000,000, and the buyer's new mortgage is exactly half of it.
Twelve months separate a $37M Queens land trade and the construction debt that took out the acquisition loan, all of it on the public record.
A repositioned suburban Doral office campus just got bank debt at roughly $184 per square foot, a live basis check for owners betting on the same play.