When the plan for it was unveiled in 2019, the massive redevelopment of Horton Plaza appeared to represent a westward shift of the center of gravity for downtown San Diego’s office market.
Now, just a few months from completion and bereft of any announced pre-leased office tenants, the 1.3M SF Campus at Horton is facing foreclosure.
The lender behind Stockdale Capital Partners’ seven-block mega-project between First and Fourth avenues has started a foreclosure process to recoup $351M in unpaid debt backed by the mixed-use development.
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