Heavyweights Hit Dallas-Fort Worth Foreclosure List

The sale date is May 7. Triad has a habit of wrestling a last-minute reprieve. This time could be different if street talk is true. Word has it that Triad is bartering deeds in lieu of debt. Triad Dallas did not return telephone calls before press time to comment on the latest turn of events.

Triad isn't the only high-ticket owner on the roster. The deed holder to 1,791 acres on the south side of Texas 114, just west of its intersection with US Highway 156 in northeast Tarrant County, is facing recall on a series of loans totaling $20.5 million, George Roddy Sr. of Foreclosure Listing Services Inc. tells GlobeSt.com. The mortgager is Texas 156 Alliance Partners and the lender, a trustee. Additional information was not available by press time.

This month's foreclosure list also includes three hotels and a 163,000-sf shopping center. Mainstay Suites at 15200 Addison Rd. in Addison is up for a $1 million note from US Bank. Rail Hotels Corp. is the mortgager of the 43,000-sf holding, valued at $3.2 million. A hotel at 13400 N. Freeway in Fort Worth has had an $800,000 second lien recalled by lender Phillip Cascio Sr., according to Roddy. Alliance Hotel Ltd. is the mortgager of the $3.9-million assessed property. In Irving, a hotel valued at $2.5 million also made the list. The note holder is State Street Bank & Trust. Larvine Investment Corp. is the mortgager for 1223 Greenway Dr.

Redbird Square at 3107 W. Camp Wisdom Rd. is up for a $4.6-million note. The shopping center, valued at nearly $9.2 million, is owned by Brookwood Texas Retail. LaSalle Bank is the lender.

"We're not hitting the real critical numbers," Roddy says, "but slowly and surely, we're pushing north." So far, class A and class B office product--with the exception of Triad--have managed to stay off the list. For now, he says, foreclosure seems to be more of a worry for the small investor.