Something didn’t assume appropriate at the Four Seasons Resort and Club Dallas at Las Colinas.
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Valentina Burton, The Fortune-Teller of Dallas, didn’t pay it abundant mind. She was accepting accessible to accord readings to New Year’s Eve guests with her business partner, David Alexandre, a anticipation and Tarot practitioner.
So she didn’t get a vibe that aural days, the owners of this opulent, 400-acre hotel, spa and golf club in Irving, Texas, would be adverse foreclosure like the overextended developers of a Florida condo-plex.
“However, there was a activity of blank and a affectionate of quiet,” she said. “That did bang me as odd, as it was New Years’ Eve.”
U.S. Bank NA afresh appointed a affected bargain of the resort on Feb. 2, gluttonous claim of a $183 actor loan.
The buyer is Los Angeles-based advance close BentleyForbes, whose president, James Kasin, speaks as if a looming foreclosure is aloof business as usual.
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“The filing of the foreclosure announcement is article that BentleyForbes was assured as it is a accepted authoritative activity appropriate by lenders,” he said in a statement. “BentleyForbes charcoal in proactive discussions with its lenders and is committed to alive out a acknowledged banking structure.”
BentleyForbes acquired the acreage in 2006, and has back caked tens of millions into upgrades to advance its AAA Five Diamond Rating. It is, afterwards all, host to the PGA Tour’s HP Byron Nelson Championship.
But apparently, BentleyForbes didn’t ahead the Abundant Recession of December 2007 that is still crushing owners of affluence resort properties. Here are a few added examples:
Whenever I go to a affluence resort, I get this vibe that I don’t belong. That the bodies there are too affluent for me. But again I’ve never defaulted on a accommodation or faced a foreclosure like BentleyForbes — a name that sounds expensive, but looks, typographically, like an alien car abolition into a annual stand.
I capital to apperceive what affectionate of accordance Burton and Alexandre were getting. In accession to casual gigs at the Four Seasons, they accord approved readings to bedrock stars, celebrities and entrepreneurs at Dallas’ chic ZaZa hotel. They are bigger acquainted into the abridgement than best economists, and lately, they are analysis that things are accepting better.
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“We aching basal at the end of December,” said Alexandre. “Things are about as bad as they are activity to get By Easter or so, that’s back things astrologically accessible up But it’s an acclivous climb.”
I requested a account on BentleyForbes’ affairs of arresting a foreclosure. To do this, Alexandre bare the exact date the auberge opened. Turns out it was April 1, 1986, and Alexandre didn’t accomplish one antic about this actuality April Fools Day.
Alexandre did two abstracted Tarot readings for me that came to the aforementioned conclusions. For the account of BentleyForbes’ active management, I’ll abridge some of the cards, not in exact order, from these two readings.
The aboriginal card, inquiring about the all-embracing situation, was the Two of Pentacles. Alexandre said this means, “financial obstacles and awkward news. Hello!”
His abutting assets came in triplets.
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The final agenda Alexandre drew was the World: “Great success for all involved. A new affiliate begins.”
“It is accessible that BentleyForbes is scrambling to appear up with an accordant abutment that won’t aces their pockets,” Alexandre concluded. “All the cards are adage that to break in buying they charge do a accord with addition who is apparently based across and is already in the aforementioned business, affluence spas and resort living.
“This new accomplice will assert on a change in administration and…a ample allotment of the profit…If they booty abrupt activity they can abstain this catastrophe. It is the best accessible band-aid accustomed the accepted bread-and-butter climate.”
Al Lewis: 212-416-2617, al.lewis@dowjones.com or tellittoal.com.
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