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.
The unpaid debt for the three office buildings totals $442.1 million, the financial titan’s affiliate stated in the filing, which was a deed in lieu of foreclosure, the county records show.
The original loan that Deutsche Bank provided to Starwood totaled $364.5 million, Alameda County real estate records show.
The buildings are located at 2101 Webster St., 1901 Harrison St., and 2100 Franklin St., according to the public filing…