Timothy Bumb Acquires Bay 101 Casino In San Jose For $71.7M Financed By Western Alliance Bank

A commercial asset located at 1788 North 1st Street in San Jose was sold for a total of $71,700,000. The transaction involved Timothy Bumb acquiring the Bay 101 Casino property, which was financed with a loan from Western Alliance Bank. The deal significantly increased the property's assessed value from January 2024, while the casino's operations remain unchanged.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $71,700,000
• Buyer: Timothy Bumb
• Company: Sutter’s Place Inc
• Lender: Western Alliance Bank

This transaction resolved internal disputes by allowing Timothy Bumb to buy out family members, including Brian Bumb, thereby solidifying his control over the property.