Now that a federal bankruptcy judge approved an intramural battle between lenders on Oceanwide Plaza, creditors are facing a decision: Make their own or joint credit bids and try to finish the project or sell it off in hopes of recouping sunk costs, a person with knowledge of the matter told The Real Deal. The decision is imminent, the source said. The project is estimated to require another $1 billion or more to complete. The bankruptcy exit agreement recently reached over downtown Los Angeles’ problem project clears the way for a potential deal. The latest framework appears to offer the […]
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