Financial Drama Peaks For Wade Park
Bamcap Partners is officially bringing down the hammer on Wade Park, setting April 3 as the day it will be sold in a foreclosure auction.
Last month, Bamcap and Gamma Real Estate threatened to force the $2B development to sell this month following Wade Park’s default on $130M in loans owed to the two companies. Both lenders stayed their hands, but now Bamcap has scheduled the forced sale, according to the Dallas Morning News.
Wade Park is also on the hook for $10M in liens from contractors and other firms, and construction is at a standstill.