![\"Placeholder\"\/](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/1750589843_18_placeholder.png\")
<\/p>\n <\/p>\n
\n Lender AllianceBernstein has taken over the Campus at Horton in San Diego.\n <\/p>\n
A Stockdale Capital Partners<\/a> project in downtown San Diego\u00a0is now in the hands of its lender,\u00a0AllianceBernstein<\/a>.\u00a0<\/p>\n Stockdale owed $384.3M, including fees and interest, to AllianceBernstein, according to a trustee’s deed upon sale, recorded on Aug. 26 in San Diego County and reviewed by\u00a0Bisnow.<\/p>\n The property\u00a0went to the lender after an auction failed to produce other interested bidders. AllianceBernstein made a $130M credit bid to secure the property,\u00a0the deed shows.<\/p>\n It is unclear what comes next for the property. Neither Stockdale nor AllianceBernstein responded to requests for comment from\u00a0Bisnow.\u00a0<\/p>\n In March, the lender\u00a0recorded\u00a0a notice of default<\/a>\u00a0in San Diego County. In May, an auction date\u00a0was set<\/a>\u00a0for that same month, but the notice of sale wasn’t recorded with San Diego County until late last month.\u00a0<\/p>\n Stockdale wanted\u00a0to turn the former Horton Plaza mall<\/a> into a mixed-use project with\u00a0office space for life sciences and tech tenants<\/a>.\u00a0<\/p>\n Plans were for 700K SF of office, along with\u00a0300K SF of restaurants, retail and entertainment uses. Stockdale had spent\u00a0around\u00a0$500M on the project,\u00a0including the $175M spent to buy the mall, when it\u00a0spoke to\u00a0Bisnow\u00a0in 2021.<\/p>\n AllianceBernstein won another foreclosure auction earlier in August,\u00a0taking\u00a0over an office property<\/a>\u00a0in Washington, D.C.,\u00a0for $20.1M. AB had bid nearly $60M for the same property three months prior, also in a foreclosure auction.\u00a0<\/p>\n Nationwide, life sciences has grappled with a less-than-robust leasing market. Asking rents have declined and\u00a0vacancy has reached record highs, according to a midyear report from Cushman & Wakefield.<\/p>\n Although Alexandria Real Estate Equities<\/a>\u00a0in July signed Novartis<\/a> to a nearly 500K SF lease in San Diego, the\u00a0market’s life sciences\u00a0space is 26.3% vacant, the Cushman report says.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Lender AllianceBernstein has taken over the Campus at Horton in San Diego. A Stockdale Capital Partners project in…\n","protected":false},"author":3,"featured_media":217891,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5134],"tags":[118946,5229,1582,276,108742,118948,109211,118947,3549,7264,118945,67,586,132,5230,68,2969],"class_list":{"0":"post-217890","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-san-diego","8":"tag-alliancebernstein","9":"tag-america","10":"tag-ca","11":"tag-california","12":"tag-foreclosure","13":"tag-foreclosure-auction","14":"tag-foreclosures","15":"tag-horton-plaza","16":"tag-san-diego","17":"tag-sandiego","18":"tag-stockdale-capital-partners","19":"tag-united-states","20":"tag-united-states-of-america","21":"tag-unitedstates","22":"tag-unitedstatesofamerica","23":"tag-us","24":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115185109344892259","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/217890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=217890"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/217890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/217891"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=217890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=217890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=217890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}