Pacific Elms Properties Acquires Office Tower In Dallas With $66.7M Loan From MetLife Commercial Mortgage

Pacific Elms Properties, owned by Jonas Woods, has acquired St. Paul Place, a 22-story office tower located at 750 North St. Paul Street in Dallas, Texas. The property is an office building with a size of 275,000 square feet. The acquisition was financed with a $66.7 million loan from MetLife Commercial Mortgage. The loan is an acquisition loan, and the seller of the property was Quadrant Investment.

Summary of Transaction Details

• Property Type: Office
• Transaction Amount: $66,700,000
• Address: 750 North St. Paul Street
• Market: Dallas
• Loan Type: Acquisition Loan
• Lender: MetLife Commercial Mortgage
• Landlord: Pacific Elms Properties - Jonas Woods
• Seller: Quadrant Investment

Jonas Woods, through Pacific Elms Properties, has successfully acquired St. Paul Place, an office tower in Dallas. The transaction was made possible with a $66.7 million loan from MetLife Commercial Mortgage. As the new landlord, Jonas Woods plans to upgrade the lobby, common areas, and amenities to reflect a Class AA quality while maintaining the property's pure office nature.