Dallas, TX

Downtown Dallas skyscraper The National taken in foreclosure

Published

4 months ago

February 5, 2026

Downtown Dallas skyscraper The National taken in foreclosure

The lender has taken ownership of The National, a 52-story mixed-use skyscraper in Dallas’ central business district, records show.

Ownership reverted to Starwood Property Trust, an affiliate of Starwood Capital Group, following a foreclosure auction on the steps of the George Allen Courts Building Tuesday. The listed purchase price was $207 million. Existing debt was used to buy the building.

Attempts to contact Starwood before publication were not returned. Dallas developer Shawn Todd, the building’s previous owner, could not be reached for comment.

The foreclosure and Starwood’s acquisition of the tower at 1401 Elm St. was expected.

In an exclusive interview last month, Todd told The Dallas Morning News that he owed roughly $230 million to Starwood. The lender filed the foreclosure in early January, and Todd said he would not fight the proceedings.

Todd cited high interest rates and lower downtown property values as reasons for the foreclosure. He previously said occupancy in the apartments had fallen below 80%.

Todd said he refinanced with Starwood three years ago, but talks with the lender weren’t enough to save the property from foreclosure.

“With our debt balance, the interest rate environment and property values downtown … We don’t see a path to us recouping our remaining equity,” he said. “We’ve been committed to downtown. We’ve been committed for 20 years. In 35 years, our firm has never lost money — this is the first year that it’s happened.”

Todd and his firm Todd Interests invested more than $460 million in a redo of the former National Bank Tower.

The midcentury tower set empty for a decade before it underwent one of the largest urban restoration projects in the nation. The 1.5 million-square-foot office tower became a combination of apartments, hotel rooms, retail, restaurants and office.

Todd touted the deal in 2019 as the “largest historic tax credit deal in Texas.”

The developers got $100 million in historic tax credits and $50 million in Dallas tax increment financing that made the project viable.

“The values aren’t there. That’s the main reason,” Todd previously said of the foreclosure. “The loan is due, and we’re not going to continue to pay.”

It’s unclear what Starwood plans to do with the property. All six restaurants, including the Italian steakhouse and seafood spot Monarch, will remain open.

Opened in 1965, the downtown skyscraper was designed by noted Dallas architects George Dahl and Thomas Stanley. It was the largest vacant building in North Texas when it closed in 2010.

It was the last of the city’s great skyscrapers to be repurposed, according to previous News reporting.

The foreclosure sales come just months after Todd’s firm offloaded its entire share of the 20-acre East Quarter development on the eastern edge of downtown to partner J.P. Morgan Asset Management for an undisclosed sum.

Todd Interests has been behind some of the city’s preeminent redevelopments. In addition to The National, the firm was behind the $300 million renovation and rebranding of Dallas’ Energy Plaza into The Sinclair.

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Dallas, TX

McAllen Welcomes Texas Hockey | Dallas Stars

Published

6 hours ago

May 29, 2026

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McAllen Welcomes Texas Hockey | Dallas Stars

DallasStars.com is the official Web site of DSE Hockey Club, L.P. The Dallas Stars primary logo is a registered trademark and the Stars name and secondary logos are trademarks of the Dallas Stars. NHL, the NHL Shield, the word mark and image of the Stanley Cup and NHL Conference logos are registered trademarks of the National Hockey League. All NHL logos and marks and NHL team logos and marks as well as all other proprietary materials depicted herein are the property of the NHL and the respective NHL teams and may not be reproduced without the prior written consent of NHL Enterprises, L.P. Copyright © 1999-2026 DSE Hockey Club, L.P. and the National Hockey League. All Rights Reserved.

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Dallas, TX

At least three dead after fire destroys Dallas apartment complex

Published

18 hours ago

May 29, 2026

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At least three dead after fire destroys Dallas apartment complex

NewsFeed

A large fire destroyed an apartment complex in Dallas after crews responded to reports of a gas leak. Authorities say at least three people, including a child, were killed. Other residents are unaccounted for.

Published On 29 May 2026

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Dallas, TX

North Texas doughnut shops named among best in U.S.

Published

1 day ago

May 28, 2026

Press Room

North Texas doughnut shops named among best in U.S.

Jarams will always be top in our hearts.

Lauren Drewes Daniels

Arguments about the best doughnut shops can get heated. We have our own personal top 10 favorites. And we have issues with DoorDash’s list below. So, let’s dive right into this sweet, round confection with a hole in the middle.

For National Donut Day, which is Friday, June 5, for all those who celebrate, DoorDash has a roundup of the top 100-rated small and medium-sized donut shops on DoorDash. The list includes local businesses across 86 cities and 25 states.

To be considered for the Donut Day Dozens list, the bakery must be small or medium-sized, have fewer than 10 stores, and have at least 1,000 reviews. The shops with the highest average consumer ratings from April 2025 to April 2026 were chosen.

Of the 21 donut shops chosen across Texas, 13 are located in North Texas.

North Texas bakeries named best doughnuts

Morning Donuts – Dallas, TX
Baker’s Dozen Donuts – Cross Roads, TX
Busy B’s Bakery – North Richland Hills, TX
Donut House Plano – Plano, TX
Donut King #3 – Fort Worth, TX
Eagle Donuts – Crowley, TX
Earnest Donuts – Lewisville, TX
Four Seasons Donuts – Irving, TX
Jin’s Donuts – Farmers Branch, TX
Master Donut – The Colony, TX
Stacy Donuts – McKinney, TX
TWISTY DONUTS MANSFIELD – Mansfield, TX

A few misses

There are some obvious big misses here. Like La Rue in Trinity Groves, which apparently was left off because it has fewer than 1,000 reviews. We awarded this chef-driven shop Best Doughnuts in 2025 for pushing out top-tier confections every morning and a seasonal menu that will both win you over and break your heart. They’re also using only beef tallow in the fryers now.

And no Jarams? The shop on Preston Road has a 4.7 average rating on DoorDash, and it appears 4.8 was the cutoff. The family-owned Jarams is one of the best shops in Dallas.

As is Detour Donuts in Frisco. This is run by an ambitious young baker who draws long lines for themed doughnuts and a rotating menu.

Beyond North Texas …

The rest of the awarded donut shops were mostly located in Houston, with a sprinkle in San Antonio. Shops were listed in alphabetical order, and not with any sort of numbered ranking system.