Bay Area real estate investors have bought a San Jose site that had toppled into foreclosure.
SAN JOSE — Bay Area real estate investors have bought a San Jose site that toppled into foreclosure due to a delinquent loan — but the property’s future wasn’t immediately certain despite the purchase.
132-room, four-story hotel at 1510 South De Anza Boulevard in San Jose, concept. The site, located at the corner of South De Anza Boulevard and Sharon Drive, totals 0.9 acres, according to a county real estate database.Weijia Que, based in Dublin; and Xinghua Hu, based in San Jose, are listed as the principal managers of HQS LLC, the affiliate that bought the property, state business records show.
That previous group, North Star Hotel Development, had pitched a 132-room hotel for the site. The hotel was never built. In 2019, the North Star Hotel group paid $6.5 million to buy the property. The difference in the prices points to a 15% decline in the property’s value over the five years.
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