Woods Capital Management, LLC ("Woods Capital") closed out 2015 with the acquisition of the office component of the 30-story One Dallas Center located at 350 N. St Paul Street.
The Dallas-based investment firm, headed by CEO Jonas Woods, purchased the lower 14 floors of first-class office space as well as an adjacent 10-story parking garage from Todd Interests.
Originally designed by acclaimed architect I.M. Pei, the parallelogram-shaped building was converted in 2013 into a condominium regime comprised of state-of-the-art office space on the lower 14 floors and high-end residential units on the top 16 floors.
The office component is fully leased by three tenants with substantial remaining term, including the Top 5 architectural firm HKS, Inc. and the iconographic Greyhound Lines, Inc.
The top 16 floors of 276 luxury for-lease residences sold to a New England public pension investor represented by J.P. Morgan Chase in June 2015.
“This is another major step forward in building confidence for downtown Dallas as part of an ongoing assemblage of quality investments by an investor that has the long-term capabilities to maximize the opportunities these developments offer,” said John Crawford, CEO of Downtown Dallas, Inc.
Woods Capital has owned and operated nearby Thanksgiving Tower since June 2013 and is currently renovating the 50-story tower. The firm continues to actively pursue investment opportunities in other downtown skyscrapers.