United Commercial Bank Goes Down
November 6, 2009
United Commercial Bank of San Francisco has bitten the dust. The FDIC took over UCB on Friday. United Commercial Bank got into a lot of trouble with its commercial real estate loan portfolio recently, taking hits on loans made on assets such as Vietnam Town, and Cupertino Square/Vallco Mall. It has significant assets however, including [...]
Read More >>Gramercy Capital Sells Cupetino Square For $60M
October 19, 2009
The Business Journal is reporting that Gramercy Capital, who took control of Cupertino Square (formerly known as Vallco Mall) in Cupertino through foreclosure, last month sold the mall to a Vietnamese buyer for $60M.
The buyer was Vallco Shopping Mall LLC, who is driven by Tram Be, a businessman out of Vietnam. We’ll see what happens [...]
Gramercy Capital Takes Control of Cupertino Square
June 26, 2009
It seemed like only a matter of time, but Cupertino Square has finally gone back to the lender. Not much to say except that I hope the new owners will make better decisions that the previous ones who in my opinion had a difficult job in the first place but made some short-sighted leasing decisions.
The [...]
Cupertino Square Bankruptcy
April 6, 2009
We’ve heard there was a court event on March 31 involving Cupertino Square LLC, but we’re not sure what the status of the bankruptcy is. It’s been almost half a year since the mall declared bankruptcy to halt the foreclosure process, and since then things haven’t gotten much better for the troubled shopping mall.
If anybody [...]
Cupertino Square Bankruptcy Update
February 3, 2009
Cupertino Square, which filed for bankruptcy on September 2, 2008, recently filed a joint plan for reorganization with the bankruptcy court. According to NetDockets, the terms of the reorganization which are being proposed by the mall’s owners, Cupertino Square LLC and Vallco International Shopping Center LLC are that a newly-formed entity would acquire the center for [...]
Read More >>Cupertino Square Hires New Leasing Team to Help Save Itself
October 8, 2008
When Vallco Mall (former name of Cupertino Square) was acquired out of bankruptcy a few years ago, the developers intended on creating an ethnically themed shopping center. After some struggles, the group brought onboard an AMC Theatre, a Lucky Strikes Bowling Alley, and a few other anchor restaurant tenants (Alexander’s Steakhouse, Dynasty Chinese Restaurant) and [...]
Read More >>Cupertino Square Trouble Continues as Gramercy Capital Pursues Foreclosure
August 21, 2008
Fighting between Cupertino Square Mall and Gramery Capital has culminated with a notice of default and sale being issued by the lender with a tentative auction date set for September 10th. The lender, Gramercy Warehouse Funding I LLC and United Commercial Bank, claim that Cupertino Square LLC is in default of its loan for the center.
The [...]
