Big San Jose housing complex with hundreds of units flops into default

Big San Jose housing complex with hundreds of units flops into default

on Friday
Anonymous $genLyrxdTY

https://www.siliconvalley.com/2024/10/11/san-jose-home-house-loan-build-economy-china-property-real-estate/

SAN JOSE — A big San Jose housing complex with hundreds of units is in default on a loan that tops a quarter-billion dollars, a setback that could lead to a foreclosure of the property’s delinquent financing.

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The $264 million construction loan for the double-tower housing highrise at 188 West St. James Street, formerly known as Silvery Towers, is in default, documents filed on Oct. 10 with the Santa Clara County Recorder’s Office show.

Big San Jose housing complex with hundreds of units flops into default

Fri Oct 11, 1:13pm UTC
https://www.siliconvalley.com/2024/10/11/san-jose-home-house-loan-build-economy-china-property-real-estate/ > SAN JOSE — A big San Jose housing complex with hundreds of units is in default on a loan that tops a quarter-billion dollars, a setback that could lead to a foreclosure of the property’s delinquent financing. > Related Articles Oakland office tower lands buyer for huge loss in property value Downtown San Jose housing tower project site loan default is canceled Big apartment complex in Milpitas is bought for more than $100 million VTA picks downtown San Jose office tower for transit agency’s new HQ Office vacancy levels soar to record highs in biggest Bay Area markets The $264 million construction loan for the double-tower housing highrise at 188 West St. James Street, formerly known as Silvery Towers, is in default, documents filed on Oct. 10 with the Santa Clara County Recorder’s Office show.