East Bay retail and dining hub in swanky neighborhood faces foreclosure

"DANVILLE An East Bay retail and dining hub that has fallen on hard times faces receivership and a loan foreclosure as tenants depart or shun the high-profile commercial center that serves a posh enclave next to the property. Blackhawk Plaza, a one-time magnet for shoppers, restaurant goers, and moviegoers in Danville, is losing tenants, and its principal owners may lose control of the property, depending on the outcome of a court proceeding in Southern California."

"Blackhawk Plaza has addresses that include 3340, 3464, 4000, 4024, 4050, 4080, and 4100 Blackhawk Plaza Circle, public records show. Nano Banc, which in September 2024 provided $5 million in financing to the principal owner of Blackhawk Plaza, an affiliate of Ramanujan Group, has filed a lawsuit that ultimately seeks a receiver that can accomplish a foreclosure of the property's loan, documents in Orange County Superior Court show."

"Defendants (Ramanujan Group and its affiliates) have ignored maintenance and repair obligations, thus allowing the slow decay of the Plaza, the business owners stated in the Contra Costa County court filing. The businesses that filed the lawsuit include the owners and operators of the Blackhawk Automotive and Cultural Museum and office building owners in the plaza, court records show. Ever-widening cracks and potholes in parking lots, decrepit and non-functioning light stanchions, rusted and broken staircase railings, crumbling stairs, broken and inoperab"

Blackhawk Plaza in Danville has lost multiple tenants and faces receivership and loan foreclosure as businesses depart or avoid the center. Draeger's Market, the plaza's primary anchor, announced plans to close and leave the center adjacent to the affluent Blackhawk neighborhood. Nano Banc provided $5 million in September 2024 to an affiliate of Ramanujan Group and has filed suit seeking a receiver to accomplish foreclosure of the property's loan. A group of commercial property owners sued in Contra Costa County, alleging owners neglected maintenance and repair obligations, resulting in structural decay and hazardous conditions.

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