Oceanwide Plaza buyer loses city’s favor, confirmation hearing pushed again
The hearing that could seal the fate of Oceanwide Plaza has been pushed, again, and is now scheduled for July. Last time, the City of Los Angeles wanted more time. Now, new court documents reveal it is against the proposed $470 million purchaser: Dr. Kali Chaudhuri’s KPC Group and Lendlease. Theirs is mostly a credit bid. Lendlease was the one-time general contractor for the stalled megadevelopment, and KPC came into the mix via its purchase of another creditor’s claim. The city pleaded for more time in March, basically to see if KPC was up for the job. It needed to […]This article originally appeared on The Real Deal. Click here to read the full story.
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