Billionaire Completes Acquisition of Downtown El Paso Portfolio

El Paso billionaire Paul Foster completed the purchase of 14 buildings in downtown El Paso, making him one of the largest property owners within the CBD. One of Foster’s companies, Franklin Mountain Investments LP, acquired the portfolio, which includes two of downtown El Paso’s largest buildings, from the Borderplex Realty Trust.

In addition to acquiring the 21-story Wells Fargo building and 18-story One San Jacinto Plaza building (formerly known as Chase Tower), the portfolio included eight retail storefront properties, a parking garage and three land parcels. Foster has no plans to change the properties he now owns, but is in the process of selling the retail assets.

The sale represents part of Borderplex’s dissolution.

Pictured: Wells Fargo Building, San Jacinto Plaza, El Paso

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