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A little while ago, a Friend of Unfair Park forwarded along a piece from the Deutschland version of Financial Times detailing the potentially big trouble brewing at Victory Park, where, it appears, Hillwood is in danger of defaulting on a $185 million loan. Steve Brown has more or less rewritten the original story in the English for those into that kind of thing. But, truthfully, it’s a far better read when translated from the original German:
The “Victory Park” around the American Airlines Center, venue of the Dallas Mavericks basketball team with the German professional Dirk Nowitzki has not hoped to develop the new center. Retailers are extracted, only a portion of the condominium was sold. But this is not the only reason for the unfortunate development.
David Pelletier, director of corporate communications for Hillwood, was unavailable for comment when we called this afternoon. I’ve also been trying to get a response from Victory Park spokesperson Dustee Tucker, who’s in a meeting. Will update accordingly.
Update: No, nobody’s called back yet, but I did forget to point out the last graf of the two-page piece, in which Matt Pulle’s original story on Victory Park is cited. I think.
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