An office tower in Dallas' Arts District has traded to a new owner.
An affiliate of TRT Holdings, a Dallas-based investment firm that owns the luxury Omni Hotels & Resorts chain, purchased St. Paul Place (750 N. Saint Paul St.) from Pacific Elm Properties, county deed records show.
TRT Holdings was founded by Dallas billionaire Robert Rowling and his father, Reese. The deal for the green glass tower closed Dec. 2.
Terms of the deal were not disclosed. Attempts to contact both parties were not returned before publication.
Built in 1983, the almost 275,000-square-foot office high-rise is 22 stories. The Dallas Central Appraisal District valued the property at just over $47 million for tax purposes.
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Tenants include real estate information firm CoStar Group, Mayer LLP and others. More than 23,500 square feet of office space was available for sublease, according to a listing for the property.
CoStar News reports the property underwent months of renovation following a flood in April.
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Pacific Elm purchased the property in 2023 from Dallas-based Quadrant Investment Properties. The acquisition was financed with a $66.7 million loan from MetLife Commercial Mortgage.
Pacific Elm has invested in multiple downtown properties, including 2100 Ross, Bryan Tower and Santander Tower.
Quadrant Investments purchased St. Paul Place in 2016 and completed a multimillion dollar renovation of the property, including a revamped ground-floor lobby and outdoor patio spaces.
The transaction is one of several in Dallas' urban core in 2025. The largest office sale to date was John Goff's Crescent Real Estate purchase of the Texas Capital Center building at 2000 McKinney Ave. The exact sales price was not disclosed.
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