{"id":269661,"date":"2026-04-15T21:29:29","date_gmt":"2026-04-15T21:29:29","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/269661\/"},"modified":"2026-04-15T21:29:29","modified_gmt":"2026-04-15T21:29:29","slug":"east-bay-hotel-cant-find-buyer-lender-urges-court-to-ok-foreclosure-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/269661\/","title":{"rendered":"East Bay hotel can’t find buyer, lender urges court to OK foreclosure"},"content":{"rendered":"

BERKELEY \u2014 A Berkeley hotel could head to the auction block now that a lender has urged a bankruptcy court to pave the way for the property\u2019s foreclosure.<\/p>\n

The University Inn & Suites hotel<\/a> at 920 University Ave. is mired in a bankruptcy court case that its owner, Kubera Hotel Properties, filed as a way to ward off a foreclosure.<\/p>\n

Hotel lender Wilmington Trust says it is concerned that Kubera Hotel Properties has failed in several instances to land a buyer<\/a> for the site as a way to pay off the property\u2019s debts. The lender has asked a bankruptcy court judge to terminate the legal proceeding.<\/p>\n

The 113-room hotel went into default in February 2025 on a $10.5 million loan, Alameda County real estate records show.<\/p>\n

Kubera Hotel Properties filed for bankruptcy in June 2025 and began to scout for a buyer to take ownership, court papers show.<\/p>\n

\u201cThroughout this period, Kubera Hotel Properties has made four unsuccessful sale efforts, all of which were nothing more than empty gestures designed to buy additional time,\u201d Wilmington Trust stated in a bankruptcy court filing on April 7.<\/p>\n

Wilmington Trust requested that the bankruptcy court lift an automatic stay that is preventing the lender from scheduling an auction and foreclosure of the hotel.<\/p>\n

Kubera Hotel Properties and its chief executive officer, Pradeep Khatri, didn\u2019t immediately file a response to the Wilmington Trust declarations, the court docket shows.<\/p>\n

The hotel\u2019s owner says it has made at least four attempts to sell the hotel, consisting of two efforts prior to the bankruptcy filing and two during the court case.<\/p>\n

In September 2025, Goldfin Ventures emerged as a buyer but ultimately backed out. Another buyer surfaced in March with a plan to convert the hotel to affordable housing.<\/p>\n

\u201cAfter the Goldfin proposed sale fell through, Kubera did not make any identifiable progress in this case for several months until it filed the second sale motion,\u201d Wilmington stated in its court filing. \u201cThe second sale was also dead on arrival.\u201d<\/p>\n

Effects of the COVID-19 pandemic hurt the hotel, according to a declaration that principal hotel owner Khatri filed with the bankruptcy court in August 2025.<\/p>\n

\u201cLike many businesses, COVID was devastating,\u201d Khatri stated in his filing. \u201cThe hotel struggled through the COVID pandemic and was not operating profitably.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"BERKELEY \u2014 A Berkeley hotel could head to the auction block now that a lender has urged a…\n","protected":false},"author":2,"featured_media":88274,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[389,184,764,387,7,8,3010,1335,332,383,4731,1533,181,100,143,145,144,388,94685],"class_list":{"0":"post-269661","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-oakland","8":"tag-alameda-county","9":"tag-bay-area","10":"tag-berkeley","11":"tag-business","12":"tag-california","13":"tag-california-news","14":"tag-commercial-real-estate","15":"tag-development","16":"tag-east-bay","17":"tag-economy","18":"tag-hotels","19":"tag-keywee","20":"tag-latest-headlines","21":"tag-news","22":"tag-oakland","23":"tag-oakland-headlines","24":"tag-oakland-news","25":"tag-real-estate","26":"tag-social-alert"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/269661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=269661"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/269661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/88274"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=269661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=269661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=269661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}