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 [...]
