Deutsche Bank Moves Toward Foreclosure on Vacant Former eBay Campus in San Jose

A 250,100-square-foot, four-building North San Jose office campus once occupied by eBay is heading toward foreclosure after owners Ocean West Capital Partners and Hana Asset Management defaulted on an $88.1 million loan from Deutsche Bank AG, which filed an initial notice of default in July 2026. The Real Deal and Hoodline reported October 15 and 17, 2026 that the unpaid balance has grown to $98.4 million and that Deutsche Bank plans a full foreclosure; the owners bought the vacant campus for $132.5 million in 2018, and Morningstar now values it at roughly $54.7 million.

Why it matters

The nearly 59% decline in appraised value since the 2018 purchase, against an unpaid loan balance now approaching double that appraisal, illustrates why lenders on underwater, income-less office collateral increasingly choose to foreclose rather than restructure. Prospective buyers already circling the asset ahead of a completed foreclosure should distinguish carefully between acquiring the loan, buying REO from the lender, or taking a negotiated deed-in-lieu, since each carries different risk.

Part of the Office Foreclosure & Receivership Tracker: every related matter in one table.

Case timeline · 5 entries Latest: October 15, 2026 — The Real Deal reports the unpaid balance has grown to $98.4 million amid investor interest in the distressed asset

Looking for something else?

Search the litigation tracker

Search

More lending & foreclosure matters

• Freddie Mac v. Nord Group Affiliate (Edgewater Apartments Post-Foreclosure Rent Diversion Dispute)October 15, 2026 · Pending
• Jefferies LoanCore Declares Default on Archer Aviation-Anchored North San Jose Office CampusOctober 13, 2026 · Filed
• Quinlan Development Group v. Maple 1 Farley Owner LLC (Penn Plaza Life-Sciences Site Foreclosure)October 13, 2026 · Filed
• ACORE Capital Declares Default on GPI Companies' West End Office CampusOctober 12, 2026 · Filed
• Merchants Bank of Indiana v. GRV Jackson Park LLC: $6.4M Foreclosure on Three South Side Chicago Apartment BuildingsOctober 10, 2026 · Filed

Other matters in California

• Pacific Collective, LLC v. TGS CC Ventures, LLC: California Appeals Court Holds Build-to-Suit Landlord's Slow Land Purchase Let Jushi Unit Rescind Culver City Dispensary LeaseOctober 12, 2026 · Ruling Issued
• Lenox Mortgage IX LLC v. San Francisco Care Center, L.P.: Ninth Circuit BAP Limits Lender's Fee Recovery Under Old HUD Loan Documents After Assisted-Living Facility SaleOctober 9, 2026 · Ruling Issued
• In re Duplex at Sleepy Hollow, LLC: Ninth Circuit BAP Upholds Retroactive Stay Annulment That Validated Enterprise Bank's Nine Laguna Beach ForeclosuresOctober 7, 2026 · Ruling Issued
• Landlord Sues Physical Intelligence Over San Francisco Warehouse Holdover as Anthropic Waits to Move InOctober 6, 2026 · Filed
• N17 Development v. City of Menlo Park (Willow Park Towers Builder's Remedy Suit)October 2, 2026 · Filed

Recently added

• Jefferies LoanCore Declares Default on Archer Aviation-Anchored North San Jose Office CampusOctober 13, 2026 · Filed
• ACORE Capital Declares Default on GPI Companies' West End Office CampusOctober 12, 2026 · Filed
• Freddie Mac v. Nord Group Affiliate (Edgewater Apartments Post-Foreclosure Rent Diversion Dispute)October 15, 2026 · Pending
• Quinlan Development Group v. Maple 1 Farley Owner LLC (Penn Plaza Life-Sciences Site Foreclosure)October 13, 2026 · Filed
• Straus Group v. Antheus Capital (Lake Meadows Investor Buyout Dispute)October 6, 2026 · Filed

CREdocket summarizes public court records and reporting; see our sourcing standards and corrections log. Not legal advice. Facing something similar? Contact us.