fading values have begun to haunt a growing number of office buildings<\/a> in the East Bay\u2019s largest city.<\/p>\nAn alliance of private equity titan KKR and real estate firm TMG Partners returned the Clorox Building to its lender as a result of the swift foreclosure, the county documents show.<\/p>\n
Heitman Capital Management took back the office tower, which is part of the City Center mixed-use complex. The Heitman Capital affiliate that now owns the property placed a value of $258.3 million on the Clorox Building through the foreclosure.<\/p>\n
An affiliate of KKR and TMG bought the Clorox Building in 2018, paying $253.5 million for the tower, Alameda County documents show. KKR obtained a $239.6 million loan from Heitman Capital at the time of its purchase.<\/p>\n
At the time that transaction occurred, commercial real estate experts described the purchase as the largest single-asset purchase in Oakland\u2019s history. The Clorox tower totals about 535,000 square feet.<\/p>\n
In 2015, the Clorox Building was bought for $165.4 million, according to Alameda County property documents.<\/p>\n
Oakland-based Clorox has its world headquarters in the building and is the anchor tenant for the tower. In 2012, Clorox sold the building for $110 million. The Clorox tower\u2019s other tenants include Brown & Towland.<\/p>\n","protected":false},"excerpt":{"rendered":"OAKLAND \u2014 One of the landmarks of the Oakland skyline has been foreclosed due to a failed loan,…\n","protected":false},"author":2,"featured_media":365700,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[389,184,387,7,8,3010,8520,332,1533,181,100,143,145,144,388,94685],"class_list":["post-365699","post","type-post","status-publish","format-standard","has-post-thumbnail","category-oakland","tag-alameda-county","tag-bay-area","tag-business","tag-california","tag-california-news","tag-commercial-real-estate","tag-downtown-oakland","tag-east-bay","tag-keywee","tag-latest-headlines","tag-news","tag-oakland","tag-oakland-headlines","tag-oakland-news","tag-real-estate","tag-social-alert"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/365699","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=365699"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/365699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/365700"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=365699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=365699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=365699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}