Landmark Oakland office tower is mired in $111 million loan default

"Three downtown Oakland properties, including the historic Tribune Tower that for a century has become one of the East Bay city's best-known landmarks, are mired in a $111 million loan default. Highbridge Equity Partners, a real estate investor that's active in downtown Oakland, added the three properties to its portfolio in recent years but now faces a foreclosure if it can't repay the loan from an affiliate of Rialto Capital, a finance firm."

"The Rialto affiliate filed the loan default against the three properties on Sept. 16, according to documents filed with the Alameda County Recorder's Office. In 2018, an affiliate of Highbridge Equity paid $48 million for the Tribune Tower and the attached structure at 13th and Franklin streets. The 1500 Broadway building was bought for $36.6 million in 2016 by Highbridge. Highbridge Equity in 2022 obtained from Rialto Capital the $111.2 million loan that is now delinquent."

Three downtown Oakland properties, including the 22-story Tribune Tower and two adjacent buildings, are in default on a $111.2 million loan from a Rialto Capital affiliate. Highbridge Equity Partners acquired the properties between 2016 and 2018 and secured the loan in 2022. The Rialto affiliate filed the default on Sept. 16 and could foreclose if Highbridge cannot repay, obtain forbearance, or restructure financing. The downtown Oakland office market had a 37.2% vacancy rate in Q2 2025. A separate Highbridge-owned building at 1544 Broadway is not involved in the default.

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