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Three Austin real estate figures, each contending with their own criminal complaints, are continuing a yearslong battle for control of a downtown property, according to the Austin Business Journal.
The 0.8-acre lot is currently home to an IHOP at 707 E. Cesar Chavez St., which is surrounded by skyscrapers.
The property has been owned by Nate Paul's World Class Holdings through an LLC since 2016. In recent years, the company has used a series of bankruptcy filings to stave off foreclosure.
Most recently, it was slated to go to auction on Dec. 2, 2025, but World Class' LLC filed a voluntary petition for Chapter 11 bankruptcy the day of the scheduled proceeding.
When the sale didn't go through, lender Cesar Rainey Street LLC challenged the bankruptcy case in a motion stating it was a tactic to protect against foreclosure. Cesar Rainey Street has tried to foreclose on the property several times since it purchased a $2.7M loan for it from lender Amplify Credit Union in 2020.
Cesar Rainey Street is managed by Justin Bayne, president of Bayne Commercial, and operated by Bryan Hardeman, founder of Continental Automotive Group.
World Class allegedly has missed payments since 2020 and now owes $5.1M. In court filings, World Class claims it can pay off its debt and that the lender has refused to provide payoff information.
The three principals involved each have had recent brushes with the law.
In 2025, Paul pleaded guilty to a charge of making false statements to lenders. He was central to allegations levied against Texas Attorney General Ken Paxton that Paxton had used his office to advance Paul's business interests.
Paul is serving five years of supervised release following four months of daily house arrest. He also paid a $1M fine.
The allegations led to impeachment proceedings against the Texas attorney general, and Paxton was acquitted by the Texas Senate in September 2023.
In 2025, Bayne was arrested for his alleged participation in a high-end cocaine distribution enterprise. A year before, Hardeman was arrested for allegedly committing arson and burglary. Bayne and Hardeman are reportedly both scheduled to appear in court on Jan. 21.
The IHOP’s location at the north end of the popular Rainey Street Historic District has recently transformed into a haven for high rises. The pancake house’s next-door neighbor is Waterline, the tallest building in Texas at 1,025 feet.
IHOP’s original 20-year lease at the property reportedly expired in 2024, and it used the first of its four five-year renewal options, extending its current triple-net deal to June 2029.
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