BERKELEY — The owner of a Berkeley apartment complex that faces foreclosure has filed for bankruptcy in a legal gambit meant to delay a lender’s efforts to seize or auction off the property.

The 97-unit University Park Apartments had been headed toward an auction and foreclosure over a $28.3 million loan provided in 2023 by Terra Property Trust.

Those efforts now face an uncertain timeline after the property owner, an affiliate of Academy West Investments, filed for Chapter 11 bankruptcy to reorganize its finances.

A U.S. Bankruptcy Court in California has set a hearing for early September to discuss the status of the court filings in the case. The court has also scheduled a September meeting of the creditors.

An affiliate of Academy West Investments bought the five-story apartment com

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