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Kyle Bass Takes 50% Stake in Dallas Development, Management Companies
Hayman Capital founder Kyle Bass acquired a 50% equity stake in four real estate development and management companies owned by Frank Zaccanelli. Bass’ company, Mossad Bass, LLC, acquired 50% of Fiamma Partners, Fiamma Management and Fiamma Statler, which have ownership interests in downtown Dallas’ The Statler Hotel.
Bass also acquired 50% of the Zaccanelli-held FZ WLRW, which owns part of the Entrada development in Westlake and the Riverwalk at Central Park development in Flower Mound.
“The opportunity to invest in distressed real estate projects with one of Dallas’ top real estate minds is an opportunity I couldn’t pass up,” said Bass. “Frank and I are dedicated to dismantling the fraud that has plagued these projects in the past in order to have them prosper in the future.”
Zaccanelli led the management team overseeing funding and design of The Statler Hotel and the Westlake and Flower Mound projects through early 2016.
For comments, questions or concerns, please contact Paul Bubny
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