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Jade Enterprises Faces Sawtelle Foreclosure | Real Estate News
Jade Enterprises faces a $30M foreclosure crisis on its Sawtelle office building, with occupancy at just 35% and cash flow barely breaking even — all while battling a stubborn lender and a sluggish West LA market. The firm’s recent $50M Santa Monica sale lost $13.5M, and they’re already reeling from a $40M Pasadena default last year. With no fresh appraisal in a decade and special servicers now controlling the property’s cash flow, refinancing looks like an uphill climb — and this isn’t just one bad deal; it’s a warning sign for the entire post-pandemic office sector. Listen in comfort:Get a…
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