Posted Feb 18, 2026, 6:34 AM
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Moderator
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Join Date: Jan 2009
Location: Austin, TX / Portland,OR / Chicago, IL
Posts: 14,391
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LA’s $1.2 Billion Graffiti Towers Reach Bankruptcy Exit Deal
Quote:
The long-stalled Oceanwide Plaza project in downtown Los Angeles has struck a bankruptcy-exit agreement with creditors, clearing the way for a potential sale after its Chinese developers invested about $1.2 billion.
The settlement resolves an inter-creditor dispute over the residential complex — dubbed the Graffiti Towers for its spray-painted exterior — which has been stalled since 2018 after developer China Oceanwide ran out of funding when Beijing curbed overseas investment by Chinese firms.
A potential investor is negotiating to buy the property, a deal that hinges on resolving the bankruptcy, according to people with knowledge of the matter, who asked not to be identified discussing confidential information.
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