Dallas Skyscraper Draws $60M At Foreclosure Auction

Law360, New York (August 8, 2012, 8:00 PM EDT) -- Cousins Properties Inc. paid $59.2 million at a foreclosure auction Tuesday for a 33-story, 844,000-square-foot office tower in downtown Dallas, the company said.

Cousins paid cash for the skyscraper, which had two mortgages on it: a $60 million A-note and a $10 million B-note that the company purchased in an off-market transaction several months ago. Cousins paid no upfront consideration for the B-note, but its purchase of the building triggered a $500,000 payment to the seller, company spokesman Cameron Golden said Wednesday.

“2100 Ross Avenue is...
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