Jamestown LP has been served with notices of default on loans backed by two San Francisco office buildings.
The notices involve a loan of about $61M for the Rialto Building, a 135K SF property at 116 New Montgomery Street and a $32.5M loan backed by 731 Market Street, a 93K building, according to a report in the San Francisco Business Times.
A notice of default sets a deadline of 90 days for a building owner to repay the loan. If the default is not cured, the lender may elect to sell the property in order to recoup the loan.
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