OAKLAND — The Parker Electric Manufacturing building in Oakland’s historic warehouse district was seized by its lender through a speedy foreclosure process due to a failed real estate loan.
The property’s lender, an affiliate of Bridger Fund, now owns the building at 221 Washington St., documents filed Sept. 24 with the Alameda County recorder’s office show.
The affiliate provided a now-foreclosed $1.65 million loan in 2025 to an entity headed by W. Bradford Paley, the founder of the Oakland-based Parker Electric Foundation, an arts, community and performance venue that operates at the site.
In the Jack London Square area, the 8,800-square-foot building was constructed in 1905 by Bay City Iron Works to replace a prior structure that was wrecked by a fire, according to a 2019 report prepared by consulting firm Environmental Science Associates.
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Despite the blaze, much of the exterior of the building, which was constructed around 1892, was incorporated into the new building that survived. Bay City Iron Works sold the property in 1924 to Parker Electric.
At least one other historic building in Oakland has suffered from a delinquent loan in recent years. The landmark Tribune Tower building at 409 13th St. is mired in a mortgage default.