Deeds and WeedsJanuary 13, 2010

Byron Nelson Championship Site Faces Foreclosure

The Four Seasons Resort and Club Dallas at Las Colinas -- better known to this audience as the home of the PGA Tour's HP Byron Nelson Championship -- was the subject of a foreclosure filing today in Dallas.

According to reports, the facility's creditor, U.S. Bank NA, "is seeking repayment of a $183 million loan on the property" from the resort's owner, Los Angeles-based BentleyForbes, "and has scheduled a forced sale on Feb. 2."

The Dallas Morning News called the foreclosure filing "the largest in North Texas in more than 20 years." The newspaper's story on the filing is here. The Dallas Business Journal's report is here.

Of course -- as in many foreclosure and bankruptcy proceedings -- three words are being used to describe the activity at the facility in question: business as usual.

"We do not expect any change in our day-to-day operations or services," Las Colinas Four Seasons general manager Michael Newcombe told the Dallas Morning News. "We are proud of the nearly $60 million in improvements that our owners have made to our property over the past two years."

-- G.R.