Ray Washburne Buys 205 South Lamar Street Office From Twenty Lake Holdings For $2.8M

The property involved in this transaction is an office asset located at 205 South Lamar Street in Dallas. It comprises a total square footage of 26,000 and is valued at $2.8 million. The property will remain operational through April before redevelopment begins.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $2.8 million
• Address: 205 South Lamar Street
• Market: Dallas
• Buyer: Ray Washburne
• Seller: Twenty Lake Holdings
• Broker: Jake Milner - Davidson Bogel Real Estate

Ray Washburne, a businessman from Dallas, purchased the property from Twenty Lake Holdings, a subsidiary of Alden Global Capital. Washburne has announced plans for redevelopment of the site, which is in proximity to the ongoing $1.2 billion replacement of the nearby Kay Bailey Hutchison Convention Center.