Core Insights - Oakland, California, is experiencing a rise in distressed apartments, although not as severe as in New York City or Houston [1] Group 1: Auction and Foreclosure Details - Two apartment properties in Oakland, owned by Trumbull Property Growth & Income Fund, are set to go to auction [2] - The 78-unit Moran defaulted on a $20.7 million loan, while the 97-unit Telegraph Arts defaulted on a $31.6 million loan, both in July 2024 [3] - CBRE Capital Markets, which financed these properties in 2020, plans to foreclose in the spring [3] Group 2: Recent Transactions and Market Trends - The Leamington was sold for $14.4 million after foreclosure, representing a 58.3% discount from its previous value of $34.5 million [4] - In January, Parkview Financial REIT foreclosed on a 102-unit property at 1919 Market St. due to a loan failure, with unpaid debt of $58.5 million [5][6] - The Residences at Lake Merritt submarket is experiencing rent declines of 30% compared to pre-pandemic levels, with concessions lasting two to three months [7]