The Solarium building is owned by an Austin-based firm.
The Solarium building is owned by an Austin-based firm.
Lead Funding plans to eventually sell the property formerly owned by developer Leon Cisneros.
America’s Capital Partners still owns the nearby Tuscany Plaza building.
Fortress Capital’s takeover follows years of court battles with Nelson Partners.
“This project had been on a pause over the last six to eight months and during that time we did fall behind,” Flywheel Capital founder Ben Hrouda said.
It’s the fourth downtown office building to enter foreclosure since the pandemic.
The building is leased to RiNo Country Club, a bar with an outdoor mini golf course.
A bankruptcy case complicated Fortress Capital’s previous efforts to take over 1051 14th St.
Expansive still owns two other area properties whose loans are in default.
The owner of the Ramada purchased it for $3.1 million in 2001.
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