All yours, Carlos. The 9900 Wilshire site
Bloomberg News reports that the 9900 Wilshire plot, site of architect Richard Meier's proposed hotel/condo project, is expected to go back to the lender today, in this case, Mexico's Bank Inbursa. The Courier first broke the news that Bank Inbursa intended to foreclose on the project--at a Norwalk auction--two weeks ago. Via Businessweek: "Christian Candy, a Monaco-based real estate entrepreneur, will hand over an eight-acre site in Beverly Hills to settle a dispute over a $365.5 million loan that’s in default, according to a person involved with the deal."
· Candy Said to Surrender 8-Acre Beverly Hills Property (Update1) [BW]
· Candy brothers' US site to be sold after development collapse [ES]