Deep Ellum's Biggest Property Owner Looking to Buy Even More
Ask anyone where to find the liveliest nightlife and characters in Dallas and chances are they’ll point you toward Deep Ellum. Home to concert venues, nightclubs, and trendy restaurants, this has been one of the most popular neighborhoods since the 1980s.
The biggest new property owner in Deep Ellum is North Carolina-based Asana Partners. The group recently purchased 28 buildings and eight parking lots there — and they’re looking to buy more.
Asana Partners’ properties and parking lots in Deep Ellum are located along Elm, Commerce, Main, and Canton Streets. Dallas-based 42 Deep Ellum LP owned the properties until 2012.
The properties owned by the Charlotte, NC firm include some familiar and popular names, like Pecan Lodge, High & Tight, BrainDead Brewing, and Dot’s Hop House and Cocktail Courtyard. Service at these establishments should be unaffected by the change in property ownership.
Asana Partners is a two-year-old firm that has a $500 million fund to make strategic investments in urban locations, and it clearly sees value in investing in the Deep Ellum neighborhood.
Their investment will allow for upgrades to existing properties, such as common area improvements, updates to parking lots and sidewalks and improved lighting and security. Deep Ellum is a neighborhood that reinvents itself every few years and the latest swath of investment hopes to facilitate ongoing revival.
However, 42 Deep Ellum is still a major player in the local area. 42 Deep Ellum still owns multiple buildings in the neighborhood and will consult with Asana on the projects.