OAKLAND — A building that is part of Oakland’s historic warehouse district and was constructed at the start of the 20th century has tumbled into foreclosure because of a failed real estate loan.
The Parker Electric Manufacturing building at 221 Washington St. in the Jack London Square area has been seized by its lender through a speedy foreclosure process.
The existing building, totaling 8,800 square feet, 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 Environmental Science Associates, a consulting firm.
Despite the blaze, much of the exterior of the building, which was constructed around 1892, was incorporated into the new building that has survived to the present day.
Bay City Iron Works sold the 221 Washington St. property in 1924 to Parker Electric as part of the iron works firm’s relocation to a larger building, the consultant’s report stated.
The property’s lender, an affiliate of Bridger Fund, is now the owner of the building, documents filed Sept. 24 with the Alameda County recorder’s office show.
Bridger Fund’s affiliate provided a now-foreclosed $1.65 million loan in 2025 to an entity headed by W. Bradford Paley, who is a cognitive engineer, according to his LinkedIn page.
Paley is the founder of the Oakland-based Parker Electric Foundation, an arts, community and performance venue that operates at the 221 Washington site.
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.