2020 Live Oak
The 130,000 square foot, 12-story 2020 Live Oak office tower sits on the eastern edge of Downtown Dallas and occupies its own city block.
“For many years, the building was the headquarters for Great American of Dallas Insurance Co. The first four floors were constructed in 1938, and the additional eight were added in 1963.”
Todd Interests acquires property in many ways. This particular building was collateral that secured debt. Todd Interests focused on acquiring debt to own the collateral with the intention of redeveloping the structure and adding square footage to create a mixed-use project. Rather than pursing the acquisition through the U.S. bankruptcy court system, the sale was negotiated directly to acquire the mortgage, which secured the property.
The building infrastructure contains state of the art building systems, providing an infrastructure ideal for the special needs required by enterprise companies, hosting companies, telecommunication companies and/or carriers, competitive local exchange carriers, inter-exchange carriers, internet service providers and other bandwidth intensive users. It’s location is in the heart of the Dallas Central Business District makes it minutes from major conveniences.
The first lien mortgage relating to 2020 Live Oak, was acquired directly by Todd Interests from a local bank. Todd Interests subsequently posted the property for foreclosure and at the foreclosure auction, on the Federal Courthouse steps, the property was sold to the highest bidder resulting in a substantial profit to Todd Interests.