Wells Fargo sues California-based developer over $18M defaulted loan on Highlands Ranch office building

NodeGuardian · 2026-02-20T11:55:33+00:00

Wells Fargo has filed a lawsuit against Presidio Property Trust for defaulting on an $18 million loan for the Shea Center II office building. Due to market pressures, the bank sought a receiver to protect the property’s value after Presidio missed the payment deadline.

NodeGuardian

2026-02-20 11:55:33

Abstract generation in progress

Wells Fargo has sued San Diego-based Presidio Property Trust over an $18 million defaulted loan on the Shea Center II office building in Highlands Ranch. Presidio failed to pay off the loan by January 5, leading Wells Fargo to request a receiver for the property, a request which a judge approved on February 13. The bank cited the current office market conditions, with abundant excess space and pressure to lower rents, as a reason for needing to preserve the building’s value.

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