Delinquent In Dallas: The State Of Underwater Loans In DFW
As of last month, there were 23 delinquent loans outstanding in the DFW area, according to Trepp data. Office buildings and retail centers are the hardest hit. Last week, Vista Ridge Mall and its outstanding $64M loan went back to the lender. Collin Creek Mall in Plano is now in default for nearly $55M, followed by Lakeside Market, an open-air, upscale shopping and dining area, that's in default for $31M.
While there are more office buildings delinquent, the amounts owed are smaller. Park Venture Office Center in Plano needs $15.7M to get right with its lenders, and The Hills needs $14M.
There are only three multifamily properties in default—two apartment buildings and one senior living facility.
On the other side of the coin, Hall Office Park was issued a $28M loan, and McCallum Courts and McCallum Glen, multifamily complexes, took on $19M of new debt.
Nationwide, delinquencies dropped last year.
