One TIAA loan ties a Dallas tract to a Plano retail center
The borrower took title to both properties from an affiliate on the same days the loan was recorded, and neither record names an operating brand.
A newly formed borrower took an $85.3 million loan from Teachers Insurance and Annuity Association of America under a promissory note dated Oct. 9. Deeds of trust recorded Oct. 14 and Oct. 15 secure it with two commercial parcels: a Dallas tract carried in county records under the legal name Eastman Kodak, and the Chisholm Place Retail center in Plano. An affiliate deeded both parcels to the borrower on the same days those deeds of trust were recorded.
Why it matters
An affiliate, SS REIT Texas 1 LLC, deeded the Plano property to SS REIT Texas Loan 1 LLC on Oct. 14 and the Dallas property on Oct. 15, then recorded matching deeds of trust against each parcel for the same loan on those same two days, one filing in Collin County and one in Dallas County. That sequence, a transfer followed immediately by a cross-collateralized mortgage, is a common way a lender sets up a single-purpose borrower isolated from an affiliate’s other obligations before funding a large loan. It is not on its own a sign of distress.
What it does mean is that neither county record carries an operating brand. No tenant, no leasing broker, no redevelopment filing accompanies either instrument. Two sizable Dallas-Fort Worth commercial sites were just cross-collateralized for $85.3 million, and the public record does not say what either site is being used for now or will be used for next.
The numbers
- $85.3 million: principal on the Oct. 9 promissory note ($85,260,000.00 exact), per the deed of trust’s own text
- Two counties, two deeds of trust: Dallas instrument 202600221718, recorded Oct. 15, and Collin instrument 2026000137443, recorded Oct. 14, both naming the same lender and the same loan
- Collateral: a Dallas parcel described as Eastman Kodak, Lot 6, NCB 6594, and the Chisholm Place Retail center in Plano, Lot 3, Block A
- Lender: Teachers Insurance and Annuity Association of America
- Transfer timing: both parcels deeded from SS REIT Texas 1 LLC to SS REIT Texas Loan 1 LLC on Oct. 14 and Oct. 15, the same days the loan was recorded
What’s next
Neither recorded instrument names the sponsor behind SS REIT Texas 1 LLC or SS REIT Texas Loan 1 LLC. A Texas Comptroller entity lookup is the next step to unmask it. We will watch Dallas and Collin county records for a subsequent sale, lease filing, or UCC amendment that puts an operating name behind the SPE.
More: Dallas →
On the record
Primary record
- Public recordWe read the Dallas County deed of trust ourselves, then matched it to the parallel Collin County filing recorded a day earlier and found the identical lender, borrower and $85,260,000 principal figure, showing this is one loan secured across both counties rather than two unrelated financings.View the record on dallas.tx.publicsearch.us
- Collin County Clerk, Deed of Trust, instrument 2026000137443collin.tx.publicsearch.us/doc/331619735
- Collin County Clerk, Deed, instrument 2026000137442collin.tx.publicsearch.us/doc/331619741