Everyday Issues, Every DayĪs that resident said, and others echoed, “There’s always something going on at the mosaic,” from malfunctioning elevators to only having one elevator open at a time, to random fire alarms at odd hours. “We all assume they are gaining access because there are no security guards at Mosiac,” the resident stated. How did they gain access to the building? One resident, who evacuated the building from the 23rd floor, said that the fire wasn’t the only surprise she discovered about the building today.Īs she was evacuating down the stairwells of the 31-story high-rise apartment building, she discovered that there were several homeless encampments on different floors throughout the building. According to building management in messages relayed to tenants, an investigation is ongoing. Residents who were in the building at the time say that a fire was started in the trash chute/lobby. The apartment building, which has two towers - one at 20 stories and a second at 30 stories - was evacuated after a fire alarm went off. For more information, please visit Mosaic Building, a high-rise apartment building in Downtown Dallas, caught fire the afternoon of July 13. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. “IPA in Texas provides investors with a large inventory of high-quality multifamily investment opportunities in every market, offering local market research and sales expertise in Dallas-Fort Worth, Houston, Austin and San Antonio,” said Balthrope.Ībout Institutional Property Advisors (IPA) Select units have loft-style, penthouse, or townhome floor plans. Apartments have bright, contemporary interiors and skyline views. Mosaic Dallas’ community amenities include a rooftop swimming pool, hot tub, indoor putting lounge, valet and concierge services, fitness center , dry cleaning service and a parking garage. The Akard Street DART station is across the street. The Dallas Museum of Art and the Nasher Sculpture Center are nearby, and the Dallas World Aquarium is a short distance away. Nearby neighborhoods include the historic West End area, which is a growing corporate innovation center, Uptown Dallas, and Deep Ellum, one of the city’s top destinations for live music. Corporate headquarters in the immediate area of the property are Comerica, Jacobs Engineering Group Inc., Dean Foods and Builders FirstSource. Mosaic Dallas is less than a half mile from a recently announced project that is expected to house 5,000 Goldman Sachs employees by 2028. “The area is one of the largest employment centers in the Metroplex and Mosaic Dallas directly benefits from its central location close to all of Downtown’s amenities and employers.”ĭowntown Dallas is home to over 14,000 residents and more than 135,000 working professionals.
“Downtown Dallas has experienced extraordinary growth in recent years, and currently there are more than 20 developments valued at $4 billion underway,” said Kile. Tumminello and IPA’s Drew Kile, Taylor Hill, Michael Ware, Grant Raymond, and Will Balthrope represented the seller, Olympus Property, and procured the buyer, a New York-based investment manager. “Constructed as office buildings between 19, Mosaic Dallas was converted to apartments in 2006-2007 and is now one of the city’s top places to live for residents seeking a live-work-play environment in the City Center District,” said Joey Tumminello, IPA senior managing director. Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announces the sale of Mosaic Dallas, a two-tower multifamily high-rise with 440 apartments and 8,766 square feet of ground-floor retail in Downtown Dallas, Texas.
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