An affiliate of TRT Holdings has acquired St. Paul Place, a 22-story office building located at 750 North Saint Paul Street in Dallas’ Arts District, according to Dallas County deed records. The sale was finalized on December 2. The purchase price was not disclosed, as reported by the Dallas Morning News.
TRT Holdings, based in Dallas and founded by Robert Rowling and Reese Rowling, is recognized for owning Omni Hotels & Resorts. The firm also invests in various property types across Texas and other regions.
St. Paul Place was built in 1983 and features nearly 275,000 square feet of office space. It is situated in the heart of the Arts District, an area that has generally performed better than older downtown office submarkets. The Dallas Central Appraisal District valued the property at just over $47 million for tax purposes this year.
The building’s tenants include Costar Group, Mayer law firm, and other professional service businesses. More than 23,500 square feet are currently being marketed for sublease, reflecting ongoing adjustments in space requirements within downtown Dallas.
The property recently underwent several months of renovation after a flood occurred in April. This work likely influenced both the timing and terms of the sale.
Pacific Elm Properties previously purchased St. Paul Place from Quadrant Investment Properties in 2023 with a $66.7 million loan from MetLife Commercial Mortgage. Pacific Elm holds interests in other downtown properties such as 2100 Ross, Bryan Tower, and Santander Tower.
Quadrant had acquired St. Paul Place in 2016 and invested heavily in upgrades including a redesigned lobby and new outdoor patio spaces to enhance competitiveness.
This transaction is part of a recent series of office property sales within downtown Dallas during 2025. While overall sales volume remains below pre-pandemic levels, investment activity continues with buyers entering the market. Earlier this year, Crescent Real Estate completed what has been described as the largest office sale so far in 2025 with its acquisition of Texas Capital Center at 2000 McKinney Avenue; like St. Paul Place’s transaction, financial details were not disclosed.
