The article reports that Los Angeles owner BentleyForbes, whichacquired the assetin 2006, has been in a dispute with the project's lenderssince fall 2009. The borrowers deliberately missed a scheduledpayment on the 400-acre asset at 4150 N. MacArthur Blvd. tonegotiate with the mortgage holders.
Withholding payment has been a commontactic in the current market to get lenders' attention inattempts to renegotiate loans. However, the Morning News notes thatthe Four Seasons has been on watch lists of major propertiescarrying troubled debt for several months.
"BentleyForbes remains in proactive discussions with its lendersat the Four Seasons Dallas and is committed to working out asuccessful financial structure recognizing the interests of allvested entities that will bridge the challenges of the currentsituation," spokesman Chris Egger tells the Morning News.
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