Friday, May 18, 2012
Hotel Palomar could revert to Westdale Capital
The Residences at Hotel Palomar, a nine-story luxury high-rise condominium, could sell to Dallas-based investor Westdale Capital.
Westdale Capital has taken over the troubled lien after Addison-based Behringer Harvard Short Term Opportunity Fund I LP defaulted on payments to fulfill the loan agreement on the property.
The investor is in the process of acquiring the property, according to a Dallas Morning News report.