The Victory Park project, which has been taken over by a group of German investors, will now be under new management.
The German investors have hired a new firm, Cousins Properties, to take over this complicated project, thereby sparking debate over whether they can sort out the potentially difficult process of helping this massive development with sales and retail leasing.
Cousins Properties, which has been operating in Dallas since the 1990s, will now begin helping the downtown Dallas condo market by increasing condo sales, among other things.
Welcoming in New Management
The original Victory Park developer, Hillwood, who released itself from ownership in the troubled Victory Park development in April 2009, handed over the property to a German real estate fund, US Treuhand, at that time.
Since April 2009, US Treuhand has dumped more than $180 million into the Victory Park project, which included the downtown Dallas condo market. These new owners, in an attempt to breathe life into the Victory Park project, handed over the management reigns to Cousins to deal with the leasing and planning for the development.
A Bright Future for Victory Park
As of January 1, Cousins will take over the Victory Park
Tags: Victory Park