Dallas-Fort Worth commercial foreclosure filings top $1 billion

Commercial property foreclosure filings in the Dallas-Fort Worth area top $1 billion for the upcoming April sales.  That’s much higher than commercial foreclosure posting totals in recent months.  ”It’s certainly the highest we’ve seen in this cycle,” George Roddy of Foreclosure Listing Service said Monday. The Addison-based foreclosure-tracking firm counts 333 D-FW commercial properties scheduled for auction by lenders next month.

During the last few months, the auction totals have averaged about 250.  Among the properties set for sale next month are the Element Hotel in Irving, with $13.1 million in debt, and the Firewheel Distribution Center in Garland, with $13.1 million in debt, according to Foreclosure Listing Service.  From the Dallas News….Click here for full article….