Eastridge Center, a popular shopping and dining destination in San Jose, has been acquired by a Texas-based buyer for $135 million. The sale was led by real estate group Jiashu Xu through an affiliate and financed with $98 million from Bank of China Los Angeles Branch.
The purchase includes the majority of the mall located at 2190 and 2200 Eastridge Loop, as well as adjacent properties such as one on Tully Rd. The seller was GS Pacific ER, an affiliate controlled by Silver Eagle Capital Partners and Pacific Retail Capital Partners who purchased Eastridge Center for $225 million in 2016.
Since then, GS Pacific has sold seven parcels near the mall for a total of $42.7 million and completed extensive renovations to the 1.4-million-square-foot center.
Last year, it was reported that a mortgage loan tied to the original purchase had gone into default according to sources cited by Mercury News .
