The $2-billion Wade Park foreclosure saga continues, as lenders set an April 3, 2018 forced sale of the mixed-use property in Frisco, TX. The 175-acre development at Lebanon Road and the Dallas North Tollway had been granted a stay from a March 6 auction sale, after lenders foreclosed on construction loans made to developer Thomas Land & Development.

Meanwhile, Gamma Real Estate and Bamcap Partners have been seeking repayment on a combined total of $130 million. Construction on the project stopped in December 2017. Curtis Roddy with Roddy Information Services told the Dallas Business Journal that the massive property will likely end up sold at auction, though he indicated that Wade Park isn’t the typical foreclosure candidate.

“It was crazy to see that Wade Park was posted,” Roddy said. “You don’t see developments in that prime of location up for foreclosure.” Thomas Land & Development is trying to obtain new funding for the development.

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