Sep 14, 2009
Ridglea Theater Owners Must Sell By November 3
By: Kevin Buchanan
According to Sandra Baker in the Star-Telegram, the owners of the Ridglea Theater must sell the property by November 3rd or face foreclosure.
The trustee of the R.K. Maulsby Family Trust, owner of the historic Ridglea Theater on the city’s west side, has until Nov. 4 to sell the property in a pending deal or face foreclosure, a Fort Worth bankruptcy judge ruled Thursday.
Trustee Doug King told Bankruptcy Judge Russell Nelms that he accepted a contract on Saturday from a buyer who is putting down $50,000 in earnest money and agreed to pay $1,075,000 for the Camp Bowie Boulevard property.
Selling the property would give the trust enough money to pay its creditors, King said. After the hearing, King declined to disclose the name of the possible buyer.
The saga continues. Will the Ridglea be sold, or will it head into a foreclosure auction? We’ll find out no later than early November, it seems.
I wonder who the buyer is. Surely that price is high enough that their intent is to maintain the building. There’s no way the dirt is worth that much.
That place would make an awesome brewpub… If only I had the cash.
Neil,
Something along these lines, perhaps?
http://www.mcmenamins.com/index.php?loc=9&category=Location%20Homepage
That would be perfect. I used to go to the Baghdad on Hawthorne for microbrews, pizza,and dollar flicks frequently when I lived in Portland. Fort Worth could really use something like that.
Exactly!!
Yes, good call on the Bagdad theater reference. It looks awesome. I wonder why they spell it that way.