Anglo Irish Bank has agreed to restructure a $125m debt it is owed on a skyscraper in Dallas.
US investors Barrow Street Capital and Ashkenazy & Agus Ventures bought the 42-story building in 2007.
The skyscraper was revamped but affected by the credit crunch. However, the owners have recently secured new tenants and restructured debts with Anglo, the Dallas Morning News reported.
Florida-based Ashkenazy & Agus and its financial partner, Barrow Street Capital of Connecticut, had planned to convert part of the building into residential when they bought the 1.3 million-square-foot tower.
But when the apartment market went south, the owners decided to revamp the existing office space.
They spent several million dollars upgrading the 22-year-old skyscraper, including building a 40,000-square-foot health club. There are also plans to build adjoining retail units.
