DALLAS — Slate Asset Management now owns Comerica Bank Tower, one of the biggest office skyscrapers in downtown Dallas.
The Dallas Morning News reported May 24 that an affiliate of Canada-based Slate has acquired full ownership of the 60-story building at 1717 Main St. Slate was previously the lender on the property, according to DMN.
The circumstances of how the deal came together were not clear. But Slate Asset Management confirmed in a statement to Dallas Business Journal that it now owns the 1.5 million-square-foot building and intends to "reposition the property into a premier mixed-use destination." It's tapped Stream Realty Partners to lead the way.
The alternative investment firm that has more than $10 billion in assets under management called the tower "an iconic fixture in the Dallas skyline for nearly 40 years" and said it was "pleased to be stewarding this tower’s evolution, so it can best serve the Dallas community today and for decades to come."
In 2023, Woods Capital had acquired an ownership stake in Comerica Bank Tower of a "large" but unspecified size, DMN reported at the time. Woods and another of the tower's owners, TriGate Capital, planned renovations that included converting a large chunk of the building into residential units and hotel rooms.
