OAKLAND — Two apartment complexes in downtown Oakland’s Uptown district have gone into default on their real estate loans, according to documents filed on July 15 with the Alameda County Recorder’s Office.
Telegraph Arts, a 97-unit apartment building at 471 26th St., is in default on a $31.6 million loan issued to its owner. The Moran, a 78-unit five-story apartment property at 570 21st St., has defaulted on a $20.7 million loan provided to its owner, county files show.
Both properties are owned by Switzerland-based investment company UBS, acting through an affiliate of its Trumbull Property Fund.
In 2020, CBRE Capital Markets provided the financing packages, Alameda County documents show.
The UBS Trumbull Property affiliates developed both of the apartment properties, which are separated by less than a mile…