Pinnacle Bank Texas bought Fort Worth's tallest building, Burnett Plaza, at a foreclosure auction for $12.3M after the previous owner defaulted on a $13M loan.
Fort Worth's tallest building, Burnett Plaza, was purchased at a foreclosure auction for $12.3M by Pinnacle Bank Texas. This purchase comes after Burnett Cherry Street LLC, an affiliate of Opal Holdings LLC, allegedly defaulted on a $13M loan for the building's 2021 acquisition. Standing 567ft tall and comprising over 1 million sq ft of commercial office and retail space, the building's previous sale was for $137.5M in 2019.
May 12, 2024
3 Articles