SANTA CLARA — The 9-acre site for a development that could produce as many as 950 housing units in Santa Clara has been seized by a lender, documents on file with Santa Clara city planners show.
An affiliate of Related Cos. surrendered its ownership of the property at 2101 Tasman Dr. and 2222 Calle de Luna, public real estate documents filed on Aug. 12 show.
BrightSpire Capital, acting through an affiliate, is the lender that took control of the property through a deed in lieu of foreclosure, according to Santa Clara County documents.
In 2019, BrightSpire Capital provided the Related California affiliate with the loan. The Related-controlled entity bought the two parcels in 2015, paying $64.1 million.
The foreclosed housing development site as envisioned by Related California had yet to begin vertical construction, a direct observation by this news organization shows.
Related California did not respond to requests for comment.
BrightSpire this year also foreclosed on the Signia by Hilton San Jose hotel. BrightSpire may put the tower on the sales block sometime in 2026. It’s unclear what BrightSpire’s plans might be for the Santa Clara site.
Separately, Related California has plans to develop a mixed-use village near the corner of Great America Parkway and Stars and Stripes Drive. A weak office market prodded it to scale back its plans for office development in the village.