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. This is the latest failure to stabilize a prominent downtown property. Other properties in downtown Oakland have also faced financial difficulties, including the Oakland Marriott City Center hotel and the 24-story Clorox Building. These actions threaten property values and tax revenue streams crucial to public agencies.
发表 : 4天前 经过 George Avalos 在 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]
