San Antonio shopping center owned by company tied to Nate Paul heading for foreclosure

A shopping center that was once home to dance hall Midnight Rodeo — and is owned by an affiliate of World Class Holdings, a company founded by Nate Paul — may be headed for foreclosure next month.

Paul is the Austin businessman at the center of the scandal currently engulfing Texas Attorney General Ken Paxton.

The property at 12260 Nacogdoches is set to be auctioned off Nov. 3, Bexar County property records show, although county officials have repeatedly postponed foreclosure sales due to the coronavirus pandemic.

Sonora Bank first pushed to foreclose in December and subsequently filed notices again this spring and summer, most recently last month. The bank’s promissory note is for roughly $4.7 million.

Two other San Antonio properties owned by entities connected to World Class were slated for foreclosure this summer.

Lenders sought to foreclose on warehouses at 639 Lanark on Aug. 4, a sale that was

Read More Read more

Austin’s Nate Paul, tied to Paxton complaint, known for real estate empire, legal entanglements – Business – Austin American-Statesman

Austin businessman Nate Paul and his company, World Class Property, have generated headlines for years, first for a meteoric rise in the real estate industry but more recently for a spate of bankruptcies, legal skirmishes and a search of Paul’s downtown headquarters by federal agents in August 2019.

Paul, who is still in his early 30s, has amassed a portfolio of high-profile holdings in the Austin area and elsewhere since founding World Class in 2007, growing the company into one of the nation’s largest privately owned real estate firms.

Now, Paul’s alleged relationship with Texas Attorney General Ken Paxton has sparked a major legal and political whirlwind in the top echelons of Texas government. Seven senior Paxton aides have filed a criminal complaint against the attorney general that they say stems from his dealings with Paul. They asked federal agents to investigate their boss for potential crimes that include bribery

Read More Read more