OAKLAND — Holy Names University, a Catholic college in Oakland, has defaulted on the loan for its property, a fresh financial jolt for the 154-year-old school as it prepares to shut down later this year.
The school, nestled in the East Bay hills, is in default on a loan from lender Preston Hollow Community Capital, according to documents filed on Feb. 23 with the Alameda County Recorder’s Office.
The loan, issued in 2019, totals $49 million, the county property records show. Preston Hollow could attempt to seize the property through foreclosure on the financing package.
“Holy Names continues to struggle,” said Sam Singer, a spokesperson for the co-educational private university.