Just days before Christmas—amid the busiest shopping week of the year—an iconic mall in North Dallas just changed hands.
According to the Dallas Morning News, a unit of Metropolitan Life Insurance has taken over the deeds to both Galleria Dallas and the Westin Galleria, the 432-room hotel that looms above it.
Famed for its central skating rink, where skaters are now circling “America’s tallest indoor Christmas tree,” the nearly 2-million-square foot, three-level mall had been owned by a partnership repped by UBS Realty Investors for 20 years, the DMN reported. In 2005, UBS bought the adjacent hotel.
The DMN’s Steve Brown notes that MetLife held over $315 million in loans on the mall, with county records revealing that UBS Realty agreed to hand over both the mall and the hotel to MetLife Investment Management.
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