Partnership Closes on 1M-SF Ross Tower

Bandera Ventures of Dallas has partnered with Vancouver-based Second City Real Estate and HPI Real Estate in Austin to acquire the 1.1-million-sf Ross Tower from the California State Teachers Retirement System.

The buyers obtained a five-year floating-rate loan for $116 million from private lender Prime Finance. The Dallas Central Appraisal District values the property, located at 500 N. Akard St. in the central business district at more than $73 million.