This morning, we happened to catch developer Richard Meruelo, CEO of Meruelo Maddux Properties (now in Chapter 11), cleaning the windows of a loft at Grand Lofts, one of his properties (just the unit, not the building) at 12th* and Grand. You do the windows yourself, we said. Impressive! "Someone has to do it," he told us, noting the windows were getting a bit grimy. We asked him when the terrible market would get better. "Probably not till the beginning of next year. But I don't think we're going to get any worse." In the meantime, Windex spritzes for all.
· Commercial landlord Meruelo Maddux seeks Chapter 11 [LA Times]