ARLINGTON High Point Church in south Arlington, which bought the huge 107-acre former Johnson & Johnson Medical complex more than a decade ago and turned it into a campus for its church and schools, now may lose the property to its lender.
Evangelical Christian Credit Union in Brea, Calif., which according to its website is a banking resource for growing ministries nationwide, has posted the property, at 2500 Arbrook Blvd., for the June 3 foreclosure auction on the steps of the Tarrant County Courthouse.
The foreclosure posting says the church has defaulted on $31.5 million in loans. The posting offered no other details. The money was borrowed in 2008 and due in 2013, deed records show.
Jac La Tour, a spokesman for the financial institution, declined to comment on the filing.
High Point Pastor Gary Simons said in an email statement that the church was 'shocked' about the foreclosure proceedings.
'High Point Church is completely current on its mortgage payments through the end of the term of the notes and has attempted, in good faith, to meet every demand made upon it by ECCU,' he said. 'Never in our discussions was there a mention of the possibility of ECCU not renewing the note and demanding the full payment at the end of the five years. A rollover loan was the stated and expected course of action.'
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