Byron Nelson event site faces foreclosure
Thursday, January 14, 2010
IRVING, Texas – A 400-acre luxury resort that hosts the annual Byron Nelson Championship is facing foreclosure.
U.S. Bank has posted the Four Seasons Resort and Club in suburban Dallas, with its more than 400-room hotel and spa, for a Feb. 2 auction. The bank is seeking payment on a $183 million note with Los Angeles-based BentleyForbes.
The real estate investment company did not immediately respond Thursday to a request for comment from The Associated Press.
Four Seasons general manager Michael Newcombe says the owner has been in talks with lenders on ways to restructure debt. He says the posting will not affect the property’s daily operations.
This year’s Byron Nelson Championship is scheduled for May 20-23.
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