Four Seasons' Foreclosure in Dallas

Four Seasons in Dallas, Texas
Four Seasons in Dallas, Texas

Can you imagine a Four Seasons hotel slipping into foreclosure? Well, that's exactly what happened in Texas two weeks ago to the owners of the Four Seasons Las Colinas in Irving, Texas, just outside of Dallas.

With $183 million in debt, the Four Seasons, which manages the property owned by Los Angeles-based BentlyForbes, is a pristine five-star hotel property and the site of the annual celebrity-studded Byron Nelson golf tournament.

But that didn't stop this property and other commercial properties in the Dallas-Fort Worth area from going into debt and foreclosure. Some think the debt may continue to grow as commercial owners struggle to pay property taxes that were due Jan. 31 in the Lone Star State.