San Jose apartment hub owner files for bankruptcy ahead of foreclosure

SAN JOSE — The owner of a San Jose apartment complex that has teetered on the brink of foreclosure has filed for bankruptcy in a move that is poised to delay an auction of the property.

The residential hub is The Neo on First, a 50-unit apartment building that is in default on its mortgage, which lender CTBC Bank Corp. provided to the owner in 2017, according to public documents.

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