DANVILLE — Financial woes have mounted for a high-profile East Bay dining and shopping hub next to the posh Blackhawk subdivision in Danville now that the property’s primary lender has filed two loan defaults against the property.
The owner of Blackhawk Plaza in Danville is in default on two loans totaling a combined $31 million that were provided to the property by Preferred Bank, according to documents filed on Jan. 30 with the Contra Costa County Recorder’s Office.
These new delinquencies are separate from $5 million in financing that Nano Banc provided to the owner of the property, whose addresses include 3380 Blackhawk Plaza Circle, county real estate files show.
Once a magnet for shoppers and diners, Blackhawk Plaza has fallen on hard times and faces a murky future due to the foreclosure threats from primary lender Preferred Bank and the property’s other lender, Nano Banc.
In 2020, Ramanujan Group bought Blackhawk Plaza for $28.3 million. This means that the combined face value of $36 million for the three loans from the two lenders exceeds what the borrower paid for the commercial hub by 27%…