The largest apartment landlord in San Francisco, Veritas Investments, is facing the loss of more than a third of its multifamily portfolio in the city as its lenders seek to offload $1B in loans that are in default.
Eastdil Secured is marketing the unpaid mortgage loans, which are backed by 95 apartment buildings in San Francisco encompassing 2,452 units and 45 ground-floor commercial storefronts, the San Francisco Business Times reported.
The properties are described in a marketing brochure as "trophy buildings in the city's most coveted neighborhoods," the report said.
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