SOUTH CREEK ADDITION Block 8R
Bedrooms
Bathrooms
Sq Ft
Year Built
Noy 1 NOTICE OF SUBSTITUTE TRUSTEE’S MC 2 2 PARTIAL SALE (LEASEHOLD ESTATE ONLY) “Ho, AND APPOINTMENT OF SUBSTITUTE TRUSTEE DEED OF TRUST: Amended and Restated Fee and Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (together with any and all amendments, extensions, or other modifications, the “Deed of Trust’) described as follows:
Date: December 19, 2024
Grantors: TIDES ON WESTCREEK OWNER, LLC, a Delaware li company and PECOS HOUSING FINANCE CORPOR public nonprofit housing finance corporation.
Original Trustee: | KELLY BIERIG c/o Fidelity National Title Group 12404 Park Central Drive, Ste. 200S Dallas, Texas 75251
Beneficiary: BSPRT 2023-FL10 ISSUER, L a Delaw: ited liability company.
Recorded: Document No. D224227395 ip perty records of Tarrant County, Texas. Leasehold The leasehold estate i L ph ocated in Tarrant County, Texas, more Estate: particularly describ, IDA (the “Leasehold Estate’) attached hereto
NOTE: Promissory Not restatements, and/or replac' any and all amendments, renewals, modifications, f. the “Mote”) described as follows:
Date:
Maker: IN WESTCREEK OWNER, LLC, a Delaware limited liability any.
BSPRT CRE FINANCE, LLC, a Delaware limited liability company.
Original THIRTY-TWO MILLION EIGHT HUNDRED TWENTY THOUSAND Principal AND NO/100 DOLLARS ($32,820,000.00). Amount:
BSPRT 2023-FL10 ISSUER, LLC, a Delaware limited liability company is the current holder of the Note, Deed of Trust, and other Loan Documents (as defined in the Loan Agreement). P225011758 Default has occurred in the payment of the Note and in the performance of the obligations under the Deed of Trust. Because of that default, BSPRT 2023-FL10 ISSUER, LLC has requested Substitute Trustee to sell the Leasehold Estate. TRUSTEE’S SALE OF LEASEHOLD ESTATE:
Mortgagee: BSPRF 2023-FL10 ISSUER, LLC, a Delaware limited liability company (as successor-in-interest to BSPRT CRE FINANCE, LLC) (“Mortgagee’). Mortgagor: TIDES ON WESTBROOK OWNER, a Delaware limited liability cgmha Date: DECEMBER 2, 2025, the first Tuesday of the month. Time: The sale of the Leasehold Estate will be held between th; and 4:00 p.m. local time; the earliest time at which the Leasehold Estate will begin is 10:15 a.m. tla thereafter. Place The area designated by the Commissioner: rt farrant County, Texas, pursuant to Section 51.002 of the s Prop e, or if no such location is designated by the Commissioner rt, the sale will be conducted at the place where this Notice of Substi e’s Partial Sale has been posted. Terms of Sale: | The Trustee’s Sale will Be-Ban public auction and the Leasehold Estate will be sold to the hishe for cash, except that Mortgagee’s bid may be by credit agai htedness secured by the lien of the Deed of Trust. The pyShasd price %s\dife and payable without delay on Substitute
Substitute Trustees:
» rchaser’s bid. Cc
Dallas, Texas 75219 Email: [email protected] Xenna K. Davis, Esq. Nelson Mullins Riley & Scarborough LLP 5830 Granite Parkway, Suite 1000 Plano, Texas 75024 Email: [email protected] FILED . 5 elson Mullins Riley & Scarborough LLP NOV 10 ae 3433 Lee Parkway, Suite 750 CANT CER TO OY Page 2 of 7
P225011758 Page 3 of 7
Miranda Granchi, Esq. Nelson Mullins Riley & Scarborough LLP 1111 Bagby Street, Suite 2100 FILED Houston, Texas 77002 NOV 10 25 Email: [email protected]
COUNTY CLERK, TARRANT CO., TEXAS DEPUTY
The Deed of Trust encumbers, inter alia, both the fee interest and the leasehold interest jn real property. Formal notice is hereby given of Mortgagee’s election to proceed against and | s the Leasehold Estate described in the Deed of Trust in accordance with Mortgagee’s remedies under the Deed of Trust. The sale is referred to herein as the “Trusteg-s.8 Leasehold Estate” because Mortgagee is selling only the Leasehold Estate.
Notwithstanding the sale of the Leasehold Estate, conduct a sale, by foreclosure, power of saleor o in parcels, at such time and place, upon such Yégfn or permitted by law, of (a) the fee interest
e’Deed of Trust; (b) the personal property eal property secured by the Deed of Trust. If Mortgagee passes the rescheduled foreclosure sale requirements of the Deed o d and refiled in accordance with the posting and filing e Texas Property Code. ecessarily be made subject to all prior matters of record affecting the to the extent that they remain in force and effect and have not been BE SOLD “AS IS,” WITHOUT ANY EXPRESSED OR IMPLIED WARRANTIES, except as to the warranties (if any) provided for under the Deed of Trust. Prospective bidders are advised to conduct an independent investigation of the nature and physical condition of the real property. Pursuant to Section 51.0075(a) of the Texas Property Code, Substitute Trustee reserves the right to set further reasonable conditions for conducting the Trustee’s Sale of the Leasehold Estate. Any P225011758 Page 4 of 7 such further conditions shall be announced before bidding is opened for the first sale of the day held by Substitute Trustee. NOTICE: ASSERT AND PROTECT YOUR RIGHTS AS A MEMBER OF THE ARMED FORCES OF THE UNITED STATES. IF YOU OR YOUR SPOUSE IS SERVING ON ACTIVE MILITARY DUTY, INCLUDING ACTIVE MILITARY DUTY AS A MEMBER OF THE TEXAS NATIONAL GUARD OR THE NATIONAL GUARD OF ANOTHER STATE OR AS A MEMBER OF A RESERVE COMPONENT OF THE ARMED FORCES OF THE UNITED STATES, PLEASE SEND WRITTEN NOTICE OF THE ACTIVE DUTY MILITARY SERVICE TO THE SENDER OF THIS NOTICE IMMEDIATEBY.
IN THIS NOTICE OF SALE THE PERSON SIGNING THIS ATTORNEY OR AUTHORIZED AGENT OF THE MORTGAGE SERVICER.
ofthe Texas Property Trust, Mortgagee has appointed Jacob Sparks, Brent T. Buyse, Xenna K,Davis,\antMirgnda Granchi (each, the “Substitute Trustee’), as the substitute trustees, in th place and Stead of and to succeed to all of the rights, titles, estates, powers, privileges, and authoNti¢\ granted in the Deed of Trust to the original trustee and any previously appointed su 3 trustges. The name and address of the Substitute Trustees are as follows:
ent. Buyse, Esq. son Mullins Riley & Scarborough LLP 3333 Lee Parkway, Suite 750 Dallas, Texas 75219 ins) Email: [email protected] Miranda Granchi, Esq. gh LLP Nelson Mullins Riley & Scarborough LLP 5830 Granite Parkwé (Su 1111 Bagby Street, Suite 2100 Plano, Texas 7 Houston, Texas 77002 Email: Xen fa elsonMullins.com Email: [email protected] Jacob Sparks, Esq. Nelson Mullins Riley & Scarbor 5830 Granite Parkway, Suite | Plano, Texas 75024 Email: Jacob.Sparks@N
Xenna K. Davis, Esq. Nelson Mullins Riley&-s
[The remainder of this page is intentionally left blank.] ree yor W oe sn wn SN P225011758 Page 5 of 7 IN WITNESS WHEREOF, the Substitute Trustee has signed this Notice of Substitute Trustee’s Partial Sale (Leasehold Estate Only) as of November 10, 2025. SUBSTITUTE TRUSTEE: mL eer L/
AO Xenna K. Davis, { sq. Nelson Mullins Riley & Scarborough LLP 5830 Granite Parkway, Suite 1000 Plano, Texas 75024 Tel: (469) 484-4841 Cy Email: Xenna.Davis@NelsonMuJhys° Jacob Sparks, Esq. Nelson Mullins Réle
exas 75219 14 (469) 484-4962 SN il: [email protected] Miranda Granchi, Esq. Nelson Mullins Riley & Scarborough LLP 1111 Bagby Street, Suite 2100 Houston, Texas 77002 Tel: (346) 646-5803 Email: Miranda [email protected] P225011758 Page 6 of 7 STATE OF TEXAS § § COUNTY OF COLLIN § This instrument was ACKNOWLEDGED before me on November 10, 2025, by Xenna K. Davis, known to me to be the person whose name is subscribed to the foregoing instrument. JESSICA ROSE CANNON Notary ID #124903 186 ? My Commission Expires /\4) a September 27, 2028 ; No jan) Public in and for the State o 2
wo 0 gt we a P225011758 Page 7 of 7 EXHIBIT A LEGAL DESCRIPTION Being all of Block 8-R, of South Creek Addition, a subdivision in Tarrant County, Texas, according to the map or plat thercof recorded in Volume 388-171, Page 65, of the Plat Records of Tarrant County, Texas. LEASEHOLD ESTATE 1. Ground Lease, dated December 19, 2024, exccuted by Fee Owner, a Borrower, as tenant.
DP Regulatory Agreement and Declaration of Restrictive 6 t Co December 19, 2024, executed by Fee Owner and Borrower.
Appraised Value
$33,857,834
Default Amount
$32,820,000
Potential Savings: $1,037,834
Auction Date
December 2, 2025 10:00 AM
Foreclosure Type
mortgage
Current Owner
PECOS HOUSING FINANCE CORPORAT
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