Lenders who hold millions in debt on the Uptown Tower office building north of downtown Dallas are taking steps to foreclose on the property.
Lenders who hold millions of dollars in debt on a Dallas office tower are taking steps to foreclose on the property.at 4144 North Central Expressway last month disclosed that they had been notified that the high-rise was in default on more than $14 million in debt. The loan was due on Oct. 1, according to owner Whitestone Uptown Tower LLC.
The 253,561-square-foot, 12-story tower – previously known as Amberton Tower – was built in 1982 and is more than 80% leased. Tenants in the building include Fiser Wealth, Worth Ross Management, Hotel Brokers of America and Hightower Law Group.. The higher borrowing costs and tougher lending standards have made it difficult for commercial property owners to obtain funding for purchases or refinancing.
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