Real estate: Loan default rattles bankrupt developer’s San Jose project

Real estate: Loan default rattles bankrupt developer’s San Jose project

3 years ago
Anonymous $hYN7Hy7o7J

https://www.siliconvalley.com/2021/03/01/real-estate-loan-default-strikes-bankrupt-developers-san-jose-project/

SAN JOSE — A loan default has rattled a San Jose project proposed by bankrupt developer Sanjeev Acharya and his company Silicon Sage Builders, creating more financial challenges for Acharya, who is the focus of securities fraud allegations.

A lender has filed a notice that a delinquent loan could trigger a foreclosure of Silicon Sage Builder properties at 2149 Alum Rock Ave. in east San Jose, according to documents filed with Santa Clara County officials.

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