Loan on Oscar De La Hoya’s DTLA office tower sells
The non-performing note on ex-boxer Oscar De La Hoya’s Downtown Los Angeles office tower sold. The buyer is Farzad Essapour, according to an assignment of deed of trust dated early May. The price and Essapour’s plan for the real estate at 626 Wilshire Boulevard are unknown, but either a deed in lieu of foreclosure or foreclosure are likely. Essapour declined to comment. In April, after the world champion boxer defaulted on the $27 million loan, the special servicer shopped the debt via an online marketplace. The starting bid was $5.5 million, which is much less than the $22 million De […]This article originally appeared on The Real Deal. Click here to read the full story.
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