Connect with us

Dallas, TX

Dallas-area office owner gets debt extension

Published

on

Dallas-area office owner gets debt extension


One of the Dallas area’s biggest office landlords – California-based KBS – has extended the debt on three of its North Texas properties.

A real estate investment trust managed by KBS owns the Preston Commons and Sterling Plaza buildings in North Dallas and the Legacy Town Center office complex in Plano.

The North Texas buildings, along with properties in California, are financed with more than $600 million in mortgages from a group of lenders. KBS recently received another extension on the debt, which was facing maturity.

“The new six-month extension provides a runway to engage with the lenders over a longer-term positioning of those assets,” a KBS representative said in an email.

Advertisement

D-FW Real Estate News

Get the latest news from Steve Brown and the business staff.

Read more D-FW real estate news

Dallas and Irving building owners withdraw demand for unpaid rent from WeWork

The ownership behind Parkview at McKinney in Uptown Dallas and Williams Square in Irving withdrew motions seeking payment for missed rent from WeWork, citing they had reached stipulations with the troubled shared office firm.

Advertisement
The volume of industrial construction is shrinking. This photo shows a building underway at...
Dallas-Fort Worth loses top spot for industrial construction

Dallas-Fort Worth no longer has the largest industrial pipeline in the country. But the softness in the market, experienced by developers and investors alike, may let up with interest rate cuts and a relaxed lending environment.

KBS has hired international investment bank Moelis & Co. to raise $100 million in capital for the trust.

The KBS real estate trust owns more than $1.2 billion in office properties in the central U.S. stretching from Texas to Minneapolis. The investor previously said the value of its holdings has fallen by almost $350 million since 2002.

KBS Real Estate Investment Trust III has more than $1 billion in property loans that are coming due this year.

Advertisement

KBS owns more than 2 million square feet of offices in 11 Dallas-Fort Worth buildings. The office buildings are held by various KBS funds and a real estate investment trust.

The overall occupancy of KBS’ D-FW buildings is 86% and several of the offices are more than 90% leased.

Office building owners have struggled in the last year with weakened demand for building space and higher interest rates that make it tough to obtain financing.



Source link

Advertisement

Dallas, TX

Dallas Mavericks Owners Might Be Making Big Mistake in Search for New GM

Published

on

Dallas Mavericks Owners Might Be Making Big Mistake in Search for New GM


The search for the next general manager or president of basketball operations of the Dallas Mavericks has begun. They terminated Nico Harrison in November, which was about nine months too late, and gave any available candidates clear notice that they were open for business.

The plan was always to wait until after the season to start the search. While names popped up as the season reached an end, they didn’t begin turning over the staff until the Monday after the season ended. However, Dallas Mavericks fans are not going to like how the team is going about the search.

Advertisement

Mar 23, 2026; Dallas, Texas, USA; Dallas Mavericks governor Patrick Dumont during the first half against the Golden State Warriors at American Airlines Center. Mandatory Credit: Kevin Jairaj-Imagn Images | Kevin Jairaj-Imagn Images

Patrick Dumont Leading Search for General Manager

NBA insider Jake Fischer reported that the Mavericks are not hiring a search firm in their hunt for a new lead executive. Instead, team governor Patrick Dumont is “acting as his own point person.”

Advertisement

This is an… interesting decision, to say the least. Dumont is not a basketball person whatsoever, and most organizations usually hire a search firm. The Chicago Bulls hired one as they look for their replacement for Arturas Karnisovas. Just because a firm is hired doesn’t mean a team will listen, though.

Advertisement

The Mavericks hired a firm in their last search for a GM. They let Donnie Nelson go in 2021 after a long tenure with the Mavs. Instead of listening to the firm, though, Mark Cuban ignored it to hire Nico Harrison, who had no previous NBA front office experience. Harrison had been an executive with Nike, which gave him connections with players like Kyrie Irving, Anthony Davis, and plenty of others.

For a while, that seemed to be working out okay. While he still had some questionable transactions, such as trading for Christian Wood and letting Jalen Brunson walk in free agency, they were still able to make a run to the NBA Finals in 2024. Then, he blew it all up, trading away Luka Doncic for an older and injured Anthony Davis, and the team hasn’t been the same since.

It’s imperative that the Mavericks get this hire correct. The interim Co-GM setup with Matt Riccardi and Michael Finley has performed admirably, but the 2026 NBA Draft is important for the Mavs to get right. It’s their best chance to pair Cooper Flagg with another young star, as they don’t own their first-round pick again until 2031 after this.

Hiring the right GM could help bring in more draft capital by bringing in bad contracts or flipping veterans into picks.

Advertisement

Dumont was able to convince Rick Welts, a Hall of Famer, to come out of retirement to be the CEO and lead the charge for a new arena. Maybe Dumont pulls another rabbit out of his hat for the GM.

Advertisement

Sign up to our free newsletter and follow us on X for the latest news.

Add us as a preferred source on Google



Source link

Continue Reading

Dallas, TX

Petar Musa’s Brace Not Enough as FC Dallas Draws LA Galaxy 2-2

Published

on

Petar Musa’s Brace Not Enough as FC Dallas Draws LA Galaxy 2-2


For a moment, it looked like FC Dallas was on its way to another statement win at home tonight.

Petar Musa scored two first half goals, to extend his Golden Boot leading tally to nine goals. But after Dallas grabbed control, the Galaxy found a way back before halftime with goals from Lucas Sanabria and Joseph Paintsil.

The second half brought more chances and more frustration for Dallas, which finished the night with 13 shots to LA’s nine. In the end, the point stretched Dallas’ unbeaten run to five games, though just like last week, it felt like another match where Dallas left points on the table.

Key Moments

7’ – GOAL! After a poor pass back by a LA defender, Petar Musa was free to go one-on-one with the LA goalkeeper. After a touch to get ahead of a defender, Musa slotted home his eighth goal of the season from outside the penalty box.

Advertisement

21’ – Offside! Joaquin Valiente sent a floating ball over the Galaxy defense, where Musa was able to get behind the defense and make an easy play for what appeared to be his second goal of the night. The play was called offside despite a fairly lengthy review period.

38’ – GOAL! This one counts! Musa gets his second of the night off a great ball from Chris Cappis. Logan Farrington picked off the ball in the midfield. He then played Cappis wide to the left of the penalty area. Cappis immediately played a ball back across the goal for Musa to slide in and finish for his ninth of the season.

43’ – Goal LA. Lucas Sanabria got the ball near the top of the penalty area. He took a couple of touches to get outside the penalty box before firing a shot that beat Michael Collodi at the near post.

45+4’ – Goal LA. Gabriel Pec got the ball near the top of the penalty area. He pulled the ball back a bit, which caught a pair of Dallas defenders. This allowed Joseph Painstil to get free behind the Dallas defense as Pec played him through inside the penalty area. Pec immediately smashed home a shot above Collodi to tie the game.

75’ – Another offside goal. This time on a corner kick for Dallas, after a scrum in the penalty box, Kaick hammered home what looked to be the go-ahead goal. But after a few seconds the flag was raised due to a deflection on Osaze Urhoghide, who was in an offside position.

Advertisement

Instant Reaction

Yeah, this is another disappointing result for this team. In a real way, it felt like the first half against Houston from last month. Dallas grabbed the lead, looked in control, but some defensive miscues opened the game up for the visitors to climb back.

With a double-game week coming up, this will certainly be another game where Dallas will wonder ‘what if’ more than anything else…especially when you factor in the two goals called off for offside.

About the Subs

Eric Quill went to his bench for the first time in the 66th minute, as he brought on Santiago Moreno for Logan Farrington. Quill went to his bench again 81st minute with Ran Binyamin and Nolan Norris coming on for Sebastien Ibeagha and Deedson. The final sub came during stoppage time with Herman Johansson and Joaquin Valiente coming off for Sam Sarver and rookie Nick Simmonds, who made his MLS debut.

Man of the Match

No question about it tonight, it has to be Musa.

Where does this fit into the season

As of this writing, the draw puts Dallas into a three-way tie for 5th place with Real Salt Lake and Seattle. Both are in action right now and look firmly in control of their games. I’d expect Dallas to be in 7th place by the end of the night.

Advertisement

What’s next for FC Dallas

Dallas wraps up a three-game homestand next Wednesday night as they host Minnesota United.



Source link

Continue Reading

Dallas, TX

Akheem Mesidor selected by Cowboys by Blogging The Boys in SB Nation’s community mock draft

Published

on

Akheem Mesidor selected by Cowboys by Blogging The Boys in SB Nation’s community mock draft


Akheem Mesidor, Edge, Miami

Pass rush has been an issue since the Micah Parsons trade. The Rashan Gary trade helped, but Dallas still needs an injection of talent. Akheem Mesidor fits here because his body size allows for some versatility inside and out, something DC Christian Parker utilizes. Mesidor is also a high-motor player with a deep bag of pass rush moves.

His last season at Miami was full of disruption in the offensive backfield and he shows an all-around game, not just a bend-around-the-edge pass rusher. Yes, he’s a little older than you’d like in a rookie (25), but his motor, pass rush toolbox, and ability to play the run matches up with a need and makes him a quality pick at number 20.



Source link

Advertisement
Continue Reading
Advertisement

Trending