A downtown Dallas skyscraper has gotten $118 million in new financing.
The 56-story Renaissance Tower is one of Dallas’ tallest and largest skyscrapers. Built in 1974, the 1.7-million-square-foot office building on Elm Street is best known for its double X lighting and decorative towers on top. It’s owned by a partnership headed by New York-based Moinian Group and SMA Equities, which acquired the high-rise in 2006. After marketing the building for sale earlier this year, the owners have now obtained a new mortgage.
Major tenants include Hilltop Securities, The Neiman Marcus Group, Dallas County and Ernst & Young. The Environmental Protection Agency will move its regional office into 229,000 square feet in the building in December 2018. Renaissance Tower is in an area of downtown that’s seen a revival. The former First National Bank tower next door is being coverted into a hotel, apartment and retail project.