Cowtown’s tallest tower sold after foreclosure

FORT WORTH – Pinnacle Bank has purchased the city’s tallest tower, Burnett Plaza, at a foreclosure auction.

Pinnacle bought the 40-story, one-million-sf building with a roughly $12.3 million credit bid.

The tower’s former owner, Burnett Cherry Street LLC, an entity of New York-based Opal Holdings LLC, defaulted on a $13 million loan after buying the tower for more than $137.5 million in 2021.

The tower at 801 Cherry St., was most recently appraised at $104.5 million.

Tenants include General Motors Financial Co. Inc., Kimley-Horn and Associates Inc., Huckabee Inc., and Freese and Nichols Inc.