European Investors Buy Elm Place Tower

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    NEWSLETTERS

    TK
    Andreas Praefcke
    The tower of 52-story Elm Place, left.

    A downtown Dallas skyscraper has a new owner this morning.

    A group of investors from eastern Europe recently bought the First National Bank Tower on Elm Street.

    The Dallas Morning News reports the new owners plan to convert the building into offices, apartments and stores.

    They aren't releasing how much they paid for the tower, which had been vacant since last year.