Dallas-Fort Worth commercial property foreclosures surge
Dallas-Fort Worth commercial property foreclosures surge
Foreclosure postings for several high-profile North Texas properties caused commercial real estate loan default filings to surge this month.The properties scheduled for forced sale by lenders at next month’s foreclosure auctions in Dallas-Fort Worth represent a total of more than $900 million in debt.
About 250 properties, including office buildings, hotels, shopping centers, warehouses and commercial land, are posted for the March sale, according to statistics from Addison-based Foreclosure Listing Service.
The two largest foreclosure filings were for the Four Seasons Resort and Club in Las Colinas, with $183 million in debt, and the Mosaic apartment buildings in downtown Dallas, which had $66.5 million in original mortgages.
