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Moinian Still Going

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TheWall Street Journal has nothing but good things to say about Joe Moinian, the developer whose holdings include that proposed LA Central project across from Staples Center. As the paper notes, Mr. Moinian is "taking advantage of lenders' reluctance to foreclose on property during the downturn," and recently "closed on a deal to reduce the interest rate and change other terms to a loan of about $120 million backing the International Jewelry Center in Los Angeles, allowing him to hold on to the property." [WSJ]