One of S.F.'s largest landlords could lose up to 428 units of housing

"The California real estate empire of Mosser Living, a company that owns 61 buildings in San Francisco but has been selling off parts of its portfolio, could lose another 428 housing units in the coming months, according to documents obtained by Mission Local. Mosser is one of the largest corporate landlords in San Francisco. The company, founded in 1955, received receivership orders for 14 of its San Francisco buildings - 13 residential and one commercial - between June 5 and October 15."

"The buildings affected are in the Tenderloin, Nob Hill, Pacific Heights, SoMa and Hayes Valley, and house 428 units. While receivership does not on its own mean buildings are for sale, many have already received notices for public auction. "Notices of trustee sale," which indicate a default on a loan and a subsequent sale, were sent to six Mosser buildings between August and October that house 141 units. Those face imminent foreclosure if Mosser doesn't come to an agreement with its lender, JP Morgan Chase."

"The real estate company, which owns 3,500 units in California, has struggled to recover from the pandemic. Mosser has already lost at least 14 buildings in the last two years. In early 2024, the company defaulted on a $88 million loan, losing 12 buildings with 459 apartments. In September, the company defaulted on two loans totaling over $26 million for two properties: the Hotel North Beach and the apartment complex at 1499 California St."

Mosser Living, a major California landlord owning 61 San Francisco buildings and 3,500 units statewide, received receivership orders for 14 San Francisco properties between June 5 and October 15. The affected buildings—13 residential and one commercial—house 428 units across Tenderloin, Nob Hill, Pacific Heights, SoMa and Hayes Valley. Six buildings housing 141 units received notices of trustee sale between August and October and face imminent foreclosure by lender JP Morgan Chase if agreements are not reached. Mosser has struggled to recover from pandemic-era income losses, has lost at least 14 buildings in two years, and defaulted on large loans in 2024.

Read at Mission Local