OAKLAND — The owners of a landmark downtown Oakland office tower are in default on a multimillion dollar loan, the latest failure to jolt a prominent downtown property.
Documents filed on Oct. 21 with the Alameda County Recorder’s Office show that affiliates controlled by Swift Real Estate have an unpaid principal loan balance of $194.1 million for the tower at 1111 Broadway.
In 2021, the affiliates paid $327.5 million for the 572,300-square-foot, 24-story high-rise…