DTD: Patriot Tower

[US75Guy]

FYI. One Dallas Centre is no more. The 30-story building has been re-christened "Patriot Tower." They changed the words over the door last weekend.

Anybody know the reason for the change? New tenant, or some marketing brainstorm?

[aygriffith]

There was an article about this in the paper about a year ago. The owner is middle eastern I believe and is out of California. He's supposed to be a rags to riches real estate story after moving to the US. Also there was some talk of an armed forces museum in the building somewhere...

[AeroD]

Zaya Younan, Younan Properties, Iranian-born.

[dfwcre8tive]

There was an article about this in the paper about a year ago. The owner is middle eastern I believe and is out of California. He's supposed to be a rags to riches real estate story after moving to the US. Also there was some talk of an armed forces museum in the building somewhere...

Here's an article about it:

http://forum.dallasmetropolis.com/showpost.php?p=260262&postcount=1012

[MDE]

downtown skyscraper threatened with foreclosure

by steve brown
published aug 18, 2011 11:38 am

a downtown dallas office tower is facing foreclosure.

The 30-story patriot tower at 350 n. St. Paul st. Has been owned by california-based investor younan properties inc. Since 2007.

Originally known as one dallas centre, the 615,000-square-foot office high-rise was financed with a $23.4 million loan from bank of america,


dmn

[dfwcre8tive]

Well, maybe new owners will find a purpose for the ground floor of the building; the planned armed forces museum never materialized.

[tamtagon]

^I always suspected just a little bit that the building was renamed Patriot Tower and the armed forces museum was announced as a way to divert certain types of attention away from the fact that the owner, Zaya Younan, is an American citizen born in Iran. Maybe, maybe not, but it's true Younan Properties bought up all kinds of stuff during the run up to the fall down. The company has probably lost other properties.....

[I45Tex]

Unless Patriot Tower is financed through totally separate parents, I guess that confirms that Younan's highrise residential at Lakeside, north of Medical City, is not proceeding.

http://forum.dallasmetropolis.com/showthread.php/4690-North-Dallas-12222-Merit-Drive