Owners of downtown Oakland office tower suffer loan default
A landmark Oakland office tower is in default on more than $200 million in financing. The owners of a downtown Oakland office tower are in default on a multimillion dollar loan, according to documents filed with the Alameda County Recorder's Office. The affiliates controlled by Swift Real Estate have an unpaid principal loan balance of $194.1 million for the tower at 1111 Broadway, which they paid $327.5 million in 2021. The loan was provided by a business entity based at the New York City offices of investment firm Brookfield Partners. This is the latest setback for a number of properties in downtown Oakland facing financial difficulties. Other office buildings, apartment towers, and hotels in downtown have also experienced failed financing or foreclosures, which could cause property values to plummet.
نشرت : منذ 3 أيام بواسطة George Avalos في Business Finance
OAKLAND — The owners of a landmark downtown Oakland office tower are in default on a multimillion dollar loan, the latest failure to jolt a prominent downtown property.
Documents filed on Oct. 21 wit... [1594 symbols]
