One-two-three punch of Mavs, Stars and Neiman bruises struggling Downtown Dallas

2026 has already been a year of fresh horrors for beleaguered Downtown Dallas, and this past week dumped salt in the wound.

In the span of about 24 hours, the urban core was hit with the news that it would be losing three more iconic anchors: the Dallas Mavericks, the Dallas Stars and the Neiman Marcus flagship store. 

After nearly convincing the city of Dallas to agree to knock down its architecturally significant City Hall to keep the team downtown, the Mavericks announced plans to decamp to Valley View — the development site at the doorstep of Preston Hollow that’s mostly been laid to waste after Beck Ventures bought it in 2012.

Dallas Mayor Eric Johnson, whose signature political move is finger-pointing, did what he does best: issued a statement after the fact and he blamed someone else. 

“We must fight for the city of tomorrow rather than worship decaying, outdated government buildings from bygone eras,” he wrote, referencing the groundswell of opposition to the City Hall demo plan from Dallasites, whom, it bears reminding, elected him to represent them. 

The week got worse when the Stars confirmed they’re leaving American Airlines Center, which, like a Leonardo DiCaprio girlfriend, was deemed outdated at 25 years old. Then, bankrupt Saks Global made a final decision to shutter the Neiman Marcus flagship store at 1618 Main Street in September. 

The one-two-three punch exacerbated an already dismal year for downtown, which kicked off with the news that its primary office anchor AT&T is ditching its 2 million-square-foot office footprint downtown and setting up shop in Plano. 

Meanwhile, Plano’s star — and a replica of Dallas’ iconic Reunion Tower — continues to rise, buoyed by the news that Samsung is shifting its stateside business operations from Englewood Cliffs, New Jersey, to the north Dallas suburb. 

Guinness World recordholder tops DFW broker charts

Home construction may have fallen off its post-pandemic peak in Texas, but the broker who made a name for himself selling Lone Star State new builds is still on top. Ben Caballero of HomesUSA.com once again towered over his peers in The Real Deal’s latest ranking of the region’s top broker teams and brokerages by total dollar volume. The Guinness World recordholder for most annual homes sold through the MLS closed $2.43 billion across 4,923 transactions between April 1, 2025, and April 1, 2026, with his average sale coming in at $493,724.

Long-stalled Four Seasons condos secure massive loan

The Four Seasons Private Residences Lake Austin, which was announced in 2021, is finally getting off the ground. Austin Capital Partners and its third development partner on the project, Lincoln Property Company, secured an $870 million construction loan to build the condo project. New York-based TYKO Capital provided the loan. Adelaide Real Estate, Cobalt Equities and JLL arranged the financing. The project will feature an unspecified number of private residences, 28 villa lots, a private marina with 50 boat slips and amenities operated by Four Seasons Hotels and Resorts at 6507 Bridge Point Parkway, about 10 miles west of Downtown Austin. 

Nitya Capital hits distress patch 

About a year after Swapnil Agarwal’s Houston syndication firm seemed saved by a $700 million refi deal, Nitya Capital is back to fending off distress. The firm got foreclosure notices for three North Texas apartment complexes, totaling 847 units, indicating Nitya defaulted on more than $70 million in loans from New York-based One William Street Capital Management. The foreclosures aren’t the first rumblings of distress for Nitya since the refi deal. A $66 million commercial mortgage-backed securities loan tied to two apartment complexes owned by Nitya was flagged for special servicing in October.

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Meet the Becks, the owner of the Dallas Mavericks arena site at Valley View

Long-awaited Four Seasons Lake Austin condo project lands $870M construction loan 

Dallas Stars freeze out Downtown Dallas, American Airlines Center

Downtown Dallas flagship Neiman Marcus to shutter 

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