Deutsche Bank Takes Control of Three Oakland Office Towers in 975,000 SQFT Deal

Deutsche Bank Takes Control of Three Oakland Office Towers in 975,000 SQFT Deal

Deutsche Bank has seized ownership of three prominent Class A office towers in downtown Oakland from Starwood Capital Group through a deed in lieu of foreclosure, bringing an end to one of the most closely watched distressed office situations in the East Bay market. The bank brought on Harvest Properties as an operating partner to […] The post Deutsche Bank Takes Control of Three Oakland Office Towers in 975,000 SQFT Deal appeared first on The R…

Three Oakland office towers are seized by lender in speedy foreclosure

OAKLAND — Three high-profile office towers in downtown Oakland have been seized through a foreclosure due to a loan failure that shows economic maladies still afflict the commercial property sector in the East Bay’s largest city. Deutsche Bank AG New York Branch, through an affiliate, took ownership of the three office towers in a streamlined foreclosure process, according to documents filed on Jan. 20 with the Alameda County Recorder’s Office. …