"DANVILLE Financial woes have mounted for a high-profile East Bay dining and shopping hub next to the posh Blackhawk subdivision in Danville now that the property's primary lender has filed two loan defaults against the property. The owner of Blackhawk Plaza in Danville is in default on two loans totaling a combined $31 million that were provided to the property by Preferred Bank, according to documents filed on Jan. 30 with the Contra Costa County Recorder's Office."
"A dried-up water feature at Blackhawk Plaza in Danville, seen on Feb. 5, 2026. (Jane Tyska/Bay Area News Group) These new delinquencies are separate from $5 million in financing that Nano Banc provided to the owner of the property, whose addresses include 3380 Blackhawk Plaza Circle, county real estate files show. Once a magnet for shoppers and diners, Blackhawk Plaza has fallen on hard times and faces a murky future due to the foreclosure threats from primary lender Preferred Bank and the property's other lender, Nano Banc."
"In 2020, Ramanujan Group bought Blackhawk Plaza for $28.3 million. This means that the combined face value of $36 million for the three loans from the two lenders exceeds what the borrower paid for the commercial hub by 27%. Preferred Bank provided Blackhawk Plaza with a $28 million loan in 2020, the county records show. Then in 2023, Preferred added a second loan totaling $3 million. In 2024, Blackhawk Plaza landed the $5 million Nano Banc funding. Some tenants, such as Draeger's Market, have decided to close their doors. Separately, a would-be tenant, Apple Cinemas, said in 2023 that it wished to open a movie house at Blackhawk Plaza that would have replaced the long-departed Century Theaters that abruptly closed in 2022. In addition to the default notices, a group of commercial property owners at Blackhawk Plaza have filed a lawsuit in Contra Costa County Superior C"
Preferred Bank filed two loan defaults against Blackhawk Plaza, representing $31 million in delinquencies. Those delinquencies are separate from a $5 million loan provided by Nano Banc, bringing total face value of loans to $36 million. Ramanujan Group purchased the property in 2020 for $28.3 million, meaning loan face value exceeds the purchase price by roughly 27%. The property shows physical decline, including a dried-up water feature and stagnant fountain water. Several tenants have closed, and a planned Apple Cinemas replacement for the closed Century Theaters did not materialize. Commercial owners have filed a lawsuit amid looming foreclosure threats.
Read at www.mercurynews.com
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