Tuesday, July 09, 2013

Downtown Dallas' Thanksgiving Tower sells to Investors

One of downtown Dallas’ biggest skyscrapers is getting a new owner today.

Woods Capital confirms that it has purchased Thanksgiving Tower in partnership with Third Point Opportunity Master Fund.
The new owners plan to “invest significant captial” in the building.
“We are prepared to invest the capital, time and energy over the long haul,” said partner Jonas Woods. “We want to see downtown Dallas return to prominence, and Thanksgiving Tower reestablished as one of Dallas’ most prestigious office towers.”
The new owners said they bought the skyscraper on an “all cash basis” andmake dramatic changes in the building with redesigned lobby areas and outdoor landscaping.
Investor Third Point LLC is a New York-based hedge fund sponsor headed by Daniel S. Loeb.
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