Downtown Sale Shows Dallas Market Strength
Kudos to my boys at Stream Realty Partners, who are getting close to the $300 million they were asking for Chase Tower downtown. Those in the know — readers of Dallas CEO, that is — knew from our 2008 commercial real estate forecast that this pending sale was a mile-marker on how much faith the capital and investment community has in the strength of the Dallas market going into 2008. (Want to know what kind of profit that deal made? In 2006, Stream partnered with Highland Capital Real Estate Funds and purchased the skyscraper for $260 million. Roughly $40 million is serious walkin’ around money.)
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