Robert Bass and friends sold the Electric Building in downtown to a group called Atlas Properties.
Over the years I have heard a myriad of real estate folks talk of tentative plans for the Electric Building, but none of them ever really deliver. Not so of Atlas. I am sure that the group of investors will put some cash and elbow grease into the historic residential building, and view it as capable of delivering a nice ROI.
In my eyes the important thing here is that the building is staying in local hands. There are plenty of groups nationwide who are well funded and looking to capitalize on a down market. At least we can keep ownership local, for now.
