1111 Broadway Oakland Owners Default on $194M Loan
Another downtown Oakland tower is in trouble: 1111 Broadway's owners just defaulted on a $194 million loan. The owners of a 24-story office tower in downtown Oakland, 1111 Broadway, have defaulted on a loan with an unpaid principal balance of $194.1 million, according to documents filed with the Alameda County Recorder's Office. The building was purchased by affiliates, Swift Real Estate, for $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 default is not an isolated occurrence, with multiple other office buildings, apartment towers, and hotels in downtown having experienced failed financing or foreclosures in recent years. Among the most visible casualties is the historic 22-story Tribune Tower at 409 13th Street, whose owner is also in loan default. The 500-room Oakland Marriott City Center at 1001 Broadway is now owned by a lender after its site loan in 2025 valued the tower at $70.2 million.
Diterbitkan : Kemarin oleh Tony Ng di dalam Business Finance
The owners of a 24-story office tower at the heart of downtown Oakland have defaulted on a loan carrying an unpaid principal balance of $194.1 million, according to documents filed with county officia... [4533 symbols]
Topik: Theater
