W
estbank has acquired the Charles Davidson Building, a downtown San Jose office building and adjacent parking lot at 255 West Julian St., for approximately $14.2 million. The sale was facilitated by an affiliate of Westbank, which purchased the property from individuals and groups affiliated with the Davidson Family Trust.

    The financing for this acquisition came from Acore Capital Mortgage, which provided up to $207.9 million in funding secured against several properties owned by Westbank affiliates in downtown San Jose. These properties include a proposed housing tower and data center at 323 Terraine St., known as Terraine, which would feature 345 residential units.

    This project is part of a larger initiative to create eco-friendly housing towers and data centers that can generate green energy in the downtown area. Westbank, a Canada-based company, is also exploring other projects in San Jose, including the renovation of the historic Bank of Italy tower and the development of high-rise housing on several lots.

    These plans align with efforts by Oakland-based PG&E, Westbank, and San Jose officials to create sustainable energy solutions for downtown San Jose.