DALLAS-Hayman Woods, headed by commercial real estate investor Jonas Woods, has closed on the 1.4-million-square-foot Thanksgiving Tower. Woods and his team, in conjunction with Third Point Opportunities Master Fund, acquired the downtown landmark from Berkadia Commercial Mortgage for an undetermined price.
In February 2013, Berkadia acquired the 31-year-old skyscraper at 1601 Elm St. for $58.5 million, then foreclosed on the asset. The previous owner was Younan Properties, which had acquired the property in 2007; Younan's $84 million CMBS loan had gone into default.
CBRE's John Alvarado led the team representing Berkadia in the transaction. An update to this article will follow shortly.
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