DALLAS-Kroenke Group has bought the Midtown Park development parcel spanning 80 acres in Dallas through a liquidation sale. Wells Fargo Bank funded $23.5 million loan for the acquisition, according to the Dallas Morning News. Valencia Capital Management had proposed to develop an $800-million mixed-use development comprising over 4,000 apartments, a 1.2-million-square-foot office space and a 500,000-square-foot retail space on the site. However, due to recession, only a part of the apartment units were built.
Holliday Fenoglio Fowler handled the sale. For the full story, go to St. Louis Business Journal .
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