Real Estate
Former Mervyn’s HQ in Hayward turned into apartment complex is bought for $200 million-plus
By Katherine Langford
Real estate firm completes foreclosure of loan for San Jose tech hub
Katherine Langford
Katherine Langford
Editor-in-Chief · Edina, MN
Katherine oversees editorial operations across all six brands. Before joining The Meridan Group, she spent 14 years at the Minneapolis Star Tribune, where she led the metro desk through its digital transformation. She holds a Master's in Journalism from Northwestern's Medill School.
More from Katherine →Editor-in-Chief · Friday, October 30, 2026 at 6:59 PM · 1 min read
SAN JOSE BioSquare Silicon Valley, a San Jose office campus touted as a hub for up-and-coming tech and biotech companies, was officially seized by a Los Gatos-based real estate firm that foreclosed on the property s failed loan. The tech park is now owned by South Bay Development Co., which initially attempted a speedy property transfer but eventually had to take control of the campus through a full-fledged foreclosure. South Bay Development Co. paid $50 million for the campus as a result of the foreclosure proceeding, documents filed on Oct. 29 in Santa Clara County show. The foreclosure indicates that the property s value has nosedived in recent years. The latest price is 65% below the $144.5 million that a group led by real estate firm PCCP paid in 2018. In 2022, the real estate venture landed $207 million in financing from investment management firm Pimco. The unpaid debt at the time of the foreclosure was $167.9 million. Pimco s affiliate assigned the $207 million loan to United
Up nextFormer Mervyn’s HQ in Hayward turned into apartment complex is bought for $200 million-plusReal Estate · 1 min read
