GPI defaults on loan, faces foreclosure of West LA creative office campus
GPI owes $82.5 million, and its lender is coming to collect. Acore Capital declared the default of GPI Companies’ loan on its West L.A. creative office campus, September records reveal. Now GPI faces foreclosure of the campus, which appears to be totally vacant. Neither GPI’s co-founders and managing partners, Cliff Goldstein and Drew Planting, nor Acore representatives immediately responded to a request for comment. GPI developed the 235,000-square-foot campus at 10730 West Pico Boulevard after purchasing a shuttered Macy’s store at the former Westside Pavilion. Victor Coleman’s Hudson Pacific Properties and Macerich purchased the rest of the shopping center, then […]This article originally appeared on The Real Deal. Click here to read the full story.
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