Bankruptcy court appears poised to confirm sale of Oceanwide Plaza
After an hours-long confirmation hearing and a lengthy break that got the lawyers on the same page, a federal bankruptcy court appears ready to confirm the sale of Oceanwide Plaza. The City of Los Angeles earlier today pulled its May objection to the KPC-Lendlease JV’s proposed $470 million purchase of Oceanwide Plaza — the three-tower, multimillion-square-foot, unfinished development in the heart of downtown Los Angeles. The joint venture’s offer is mostly a credit bid, as KPC came into the mix via its purchase of another creditor’s claim, and Lendlease was the general contractor. Earlier this month, the JV filed an […]This article originally appeared on The Real Deal. Click here to read the full story.
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