The transaction constitutes the cornerstone of the Debtor's Plan of Liquidation, which sets forth the treatment and distribution of claims of creditors of the bankruptcy estate and paves the way for the revitalization of a landmark site to deliver a world-class, mixed-use destination to the heart of Los Angeles ahead of the 2028 Summer Olympic Games.
"From the moment we were engaged, our mandate was clear: run a disciplined, global marketing process to find the right buyer who could unlock the full potential of this extraordinary site and deliver on the promise of Oceanwide Plaza for the City of Los Angeles and the millions of visitors who will arrive for the 2028 Olympic Games," said Jeffrey Azuse, Executive Director, Head of Brokerage Operations, at Hilco Global. "We are proud to have delivered on that mandate."
Oceanwide Plaza, located at 1101 South Flower Street in Downtown Los Angeles, directly across Figueroa Street from Crypto.com Arena, home of the NBA's Los Angeles Lakers, and steps from LA Live and the Los Angeles Convention Center, is one of the largest mixed-use development projects in the history of Southern California. The project is part of the long-standing effort to transform this section of Downtown into a Times Square-like destination zone, anchored by the Sports and Entertainment District. The project encompasses three high-rise towers ...
