Four Seasons Resort, site of Byron Nelson golf tournament in Texas, facing foreclosure
By APThursday, January 14, 2010
Site of Byron Nelson tournament faces foreclosure
IRVING, Texas — A 400-acre luxury resort that hosts the annual Byron Nelson Championship golf tournament 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.
James Kasim, the president of BentleyForbes, said Thursday that the filing was expected and was required by lenders. He says BentleyForbes remains in talks with its lenders.
Four Seasons general manager Michael Newcombe says the posting will not affect the property’s daily operations.
This year’s Byron Nelson Championship is scheduled for May 20-23.
