SAN JOSE — A downtown San Jose office building linked to the co-founder of WeWork and once part of a plan to convert it to housing tumbled into default due to a failed loan, documents show.
The nine-story building at 152 North Third St. and next to St. James Park defaulted on a $45 million loan that was issued in 2021, documents filed on July 15 at the Santa Clara County Recorder’s Office show.
The building is owned by a group controlled by Nazare Capital Management, whose principal executive and founder is Adam Neumann, co-founder of WeWork. The site totals 130,700 square feet, a property brochure states…