Foreclosure Looms for Major Dallas Office Tower Over Unpaid Loan

September 25, 2026 - 02:24

Lenders have moved to foreclose on a prominent office high-rise in downtown Dallas after the property's owners failed to repay a $79 million loan. The building at 2100 Ross Ave., a 33-story tower, is owned by a partnership connected to Dallas-based Woods Capital and Pacific Elm Properties.

The foreclosure filing marks the latest sign of distress in the commercial office market, which has struggled under the weight of remote work trends, rising interest rates, and declining property values. The loan tied to the tower reportedly matured without repayment, prompting lenders to pursue an auction of the asset.

The 2100 Ross Ave. building has long been a fixture of the downtown skyline, offering hundreds of thousands of square feet of office space. Like many older towers in the central business district, it has faced mounting pressure as tenants downsize or relocate to newer, more amenity-rich properties.

Woods Capital and Pacific Elm Properties have not publicly commented on the foreclosure proceedings. It remains unclear whether the partnership will attempt to negotiate a loan modification or surrender the property to lenders. If the auction proceeds, it would add another high-profile office building to a growing list of distressed assets in the region, reflecting broader challenges facing commercial real estate across major U.S. cities.