SAN JOSE — The owner of a San Jose apartment complex that’s weighed down by a failed real estate loan might be able to hang on to the property because the site’s lender appears willing to hold off on a foreclosure — at least for now.
The Neo on First, a 50-unit residential site at 975 South First St. near downtown San Jose, is in default on a $21 million loan that lender CTBC Bank provided to the complex in 2017.
Neo Assets, a Cupertino-based business entity, owns the apartment hub. Xuhan Yu is listed as the entity’s chief executive officer, according to state public documents…