Texas’ Biggest Loans Headed to Foreclosure Auctions in May

Commercial real estate distress across Texas cooled in April, but the chill was short-lived.

The total value of loans flagged for foreclosure this month surged past $1 billion in the Texas Triangle — the first time it’s done so since The Real Deal started tracking monthly foreclosures in May 2025.

The analysis uses data from Roddy’s Foreclosure Listing Service to track foreclosures across seven counties that include the state’s five largest metros: Houston, San Antonio, Dallas, Fort Worth and Austin.

Across the state, 43 commercial properties are scheduled to be auctioned on Tuesday, the vast majority of which are apartment complexes.

Here are the biggest loans up for auction. It’s possible that some of these borrowers and lenders will reach agreements to avoid auction.

Houston

The office building at 3000 Post Oak Boulevard is finally hitting the auction block after years of uncertainty about the building’s future in the wake of the exit of its anchor tenant. Engineering and construction firm Bechtel, which occupied 99 percent of the building, announced plans to leave in 2022. The $80 million commercial mortgage-backed securities loan tied to the property was issued in 2020 and matured in March 2025. The property is owned by AIP Asset Management and Five Mile Partners.

Austin

New York-based Nord Group, which once described itself as “inexperienced” in a bankruptcy filing, could finally lose the keys to the Park at Crestview Apartments after seeking bankruptcy protection for the property starting in November 2024. Lumen Real Capital provided the $42 million mortgage for the 248-unit property, at 8200 Research Boulevard, in 2023. The loan works out to about $169,000 per unit.

San Antonio

Lubbock-based Madera Residential is facing foreclosure on the Summit at Salado Creek Apartments, at 12727 Vista Del Norte, after the property’s last owner, Platte Canyon Capital, lost the property to foreclosure. Madera assumed the $45 million loan from Benefit Street Partners when it bought the apartment building. The loan works out to about $128,000 per unit for the 352-unit property.

Dallas & Fort Worth

This month’s largest new distressed loan is tied to properties throughout the Metroplex in Dallas and Tarrant counties. Shakti C’Ganti’s Ashland Greene is facing foreclosure on a four-property portfolio totaling 1,530 units. The firm allegedly defaulted on a $177 million loan from Blackstone backed by the portfolio.

Repeat offenders

Of the properties scheduled for auction, 12 have been flagged for foreclosure sales multiple times, sometimes reflecting a loan modification or ongoing litigation. Here are the properties that have been on the block before, according to Roddy’s Foreclosure Listing Service data:

Ventura Apartments, a 657-unit complex at 2513 Summer Tree Circle in Arlington ($63.3 million);
Reserve at 63 Sixty-Three, a 468-unit apartment complex at 6363 West Airport Boulevard in Houston ($37.3 million loan);
Stratton Apartment Homes, a 452-unit complex at 2420 East Abram Street in Arlington ($33.5 million);
Northbrooke Apartments, a 240-unit complex at 17111 Hafer Street in Houston ($32.5 million loan);
Tides at North Dallas, a 232-unit complex at 13250 Emily Road in Dallas ($28.5 million loan);
Oakmont Apartment Homes, a 224-unit complex at 834 Timberlake Drive in Arlington ($23.1 million loan);
Casa Azul Townhouses, a 211-unit apartment complex at 12247 Sunset Meadow in Houston ($21.1 million loan);

A retail property at 13376 North U.S. Highway 183 in Austin ($16 million);
A parking garage at 400 North Ervay Street in Dallas ($13.1 million loan);
Mueller Square, a 58-unit apartment building at 5005 Manor Road in Austin ($10.2 million);

A retail building at 6610 Low Bid Lane, home to Soccer Central, in San Antonio ($10 million loan);
La Bella Vista Apartments, a 153-unit complex at 3600 South Shaver Street in Houston ($9.2 million);
Estrella at Seminary Apartments, a 98-unit complex at 1350 East Seminary Drive in Fort Worth ($6.9 million);
A plot of land 3531 McLarry Road ($5.8 million);
The Caspian, an event space at 63 Tarragona Drive in Fort Worth ($5.3 million loan);
A storage facility at 2870 Virginia Parkway in McKinney ($5.1 million loan);
A plot of land 10850 Luna Road in Dallas ($5 million loan); and
Maison De Ville Apartments, a 121-unit complex at 707 Greens Road in Houston ($4.7 million);