The Breuner Building, located at 2201 Broadway in Oakland, was acquired by B3 Investors for a transaction amount of $14,000,000. This property encompasses a total square footage of 197,870 and was purchased following a deed in lieu of foreclosure, wherein B3 Investors acquired a $42 million loan from Wells Fargo for approximately $14 million. The transaction concluded with a valuation of about $70 per square foot, reflecting a significant discount from its previous sale in 2016.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $14,000,000
• Size: 197,870 SF
• Address: 2201 Broadway
• Market: Oakland
• Seller: Wells Fargo
• Buyer: B3 Investors
• Brokers: Steven Golubchik & Darren Hollak - Newmark

Newmark's Steven Golubchik and Darren Hollak represented Wells Fargo throughout this transaction, playing a pivotal role in facilitating the deal. This acquisition was part of a strategic financial maneuver following the foreclosure process, allowing B3 Investors to secure the property at a significantly reduced price compared to its earlier market value.