Tides Equities Loses Fort Worth Apartments to Lender at Foreclosure

Tides Equities has lost Tides on Westcreek, an apartment property at 6776 West Creek Drive in Fort Worth, to its lender at foreclosure. Tarrant County Clerk record D226194903, a Foreclosure Sale Deed recorded Oct. 6, 2026, conveys the property to BSPRT 2023-FL10 Issuer LLC, the loan’s beneficiary.

For Fort Worth operators and buyers, it marks one more syndicator-owned complex now controlled by a lender rather than a sponsor.

Why it matters

Tides Equities is a Los Angeles-based multifamily syndicator that bought heavily in Texas when rates were low. Westcreek did not change hands through a negotiated handback. The deed shows a substitute trustee’s sale at the Tarrant County Courthouse, the standard Texas non-judicial foreclosure.

The lender did not pay cash. Per the deed, it bought the property with a credit bid against the unpaid balance of the loan. That puts Westcreek in the hands of a securitization vehicle, not an operator, until it is resold.

The numbers

The foreclosed loan rests on a promissory note dated May 26, 2022, made by Tides on Westcreek Owner LLC and originally payable to BSPRT CRE Finance LLC. The deed of trust securing it is dated Dec. 19, 2024. That instrument lists Pecos Housing Finance Corporation, a Texas public entity, as a co-grantor alongside the Tides entity.

The sale was held at 10:15 a.m. on Oct. 6. The substitute trustees were appointed by a separate Tarrant County filing, D226180137. The credit bid amount is printed on the deed, but the clerk’s searchable text of that figure is not legible, so we are not reporting a number until it is confirmed from the page image.

What’s next

BSPRT 2023-FL10 Issuer LLC now holds title and controls leasing and any resale of Westcreek. Watch the Tarrant County Clerk’s foreclosure postings for other Tides properties in the county. Follow distress and ownership changes across the metro on the Dallas-Fort Worth market page.