The largest hotel in Oakland is bound for a foreclosure auction later this month.
The Oakland Marriott City Center is scheduled to be sold in a foreclosure auction on June 24. The San Francisco Business Times reports Hong Kong-based Gaw Capital Partners, the hotel’s owner defaulted on a $100 million loan guaranteed by the property. Gaw Capital bought 21-story, 500-room hotel in 2017 for $143 million, or $286,000 per room.
Invesco acquired Gaw Capital’s Oakland Marriott debt in May 2024, and an affiliate of the global real estate investor filed the original default notice in February.
The property is attached to the Oakland Convention Center and also serves as the headquarters and practice facility of the WNBA’s Golden State Valkyries. A team spokesperson said in a statement that it did “not anticipate impact to our business or basketball operations at the Valkyries Performance Center.”
Photo courtesy of Gaw Capital Partners
