South County Chrysler Dodge Jeep Ram dealership at 455 Automall Drive in Gilroy, March 2019. A loan default notice has been filed against the Gilroy property that is the location of an automobile dealership, a fresh sign of coronavirus-linked economic woes.
GILROY — A loan default notice has been filed against the Gilroy property that is the location of an automobile dealership, a fresh sign of coronavirus-linked economic woes.
The Gilroy property is the location of South County Chrysler Jeep Dodge Ram, whose telephone recording stated on Tuesday that it was closed at present due to government-ordered business shutdowns.
The notice of default was filed against South County Properties Gilroy for a mortgage on two sites in Gilroy, Santa Clara County public documents show.
The two parcels entangled by the loan default include the location where South County Chrysler Jeep Dodge Ram has been operating an auto dealership at 455 Automall Parkway in Gilroy, public documents show.
Kamran Virani, an executive based in Houston, is listed as the principal executive for loan borrower South County Properties Gilroy. Virani and his co-borrower on the loan, Noworen Moeenuddin, couldn’t be reached for comment on Tuesday and in recent days.
The Virani-led group bought the two parcels in 2018 from seller Global Health Care Management, according to property documents.
South County Gilroy Properties paid $6.5 million for the parcels, a records database shows.
The purchased parcels have addresses of 455 Automall Dr., which is the dealership building; and 6700 Automall Ct., which is a parking lot, county assessment records show.
At the same time as the purchase of the Gilroy sites, South County Gilroy Properties obtained a $5.2 million loan from Commercial Closing Department, which filed the notice of default against the borrower.
The default notice states that it is possible the lender could attempt to seize the property if the loan isn’t repaid in full. It wasn’t immediately clear what was the unpaid balance.
A telephone message at the dealership’s phone number states the business is not now operating.
“Thank you for calling South County Chrysler Jeep Dodge Ram,” the recording states. “Due to the current state-issued shelter-in-place order, the dealership is currently closed.”