The Oceanwide Plaza saga: Sean Burton’s Cityview becomes backup for graffiti-covered eyesore

Oceanwide Plaza’s latest $470 million offer is encountering pushback in bankruptcy court, and more details are emerging on an all-cash offer behind the scenes that The Real Deal previously reported on. The all-cash offer is via a foreign investment group. The overseas investor has an agreement with Sean Burton’s Cityview that it would be a fee-based developer, according to a person familiar with the matter. The Los Angeles company would develop it and work with the city. It may help that Burton has a relationship with Mayor Karen Bass. Either way, Cityview would not be a part owner.  But, let’s […]This article originally appeared on The Real Deal. Click here to read the full story.