Court Confirms Behringer's Frisco Square Plan

FRISCO, TX-A press release issued by Behringer Harvard announced that Chief Judge Brenda T. Rhoades of the US Bankruptcy Court for the Eastern District of Texas confirmed the Plan of Reorganization filed by Behringer Harvard Frisco Square LP, et al, which, upon Rhoades’s order, will allow the property to emerge from Chapter 11 bankruptcy soon.

The Addison, TX-based Behringer Harvard had Chapter 11 bankruptcy on Frisco Square last June after being unable to restructure its debt with Bank of America NA, the property’s lender. Frisco Square, located at the intersection of Dallas North Tollway and Main Street, is a 147-acre, mixed use development that contains five office, retail and residential buildings totaling 103,000 square feet of office space, as well as 114 multifamily units and 65,000 square feet of retail space. According to media reports, during early 2012, the entity defaulted on the $44.1 million in loans it took out for its Frisco Square investment.