Newport Beach-based Newoprt Capital Advisors has just won a $50.3 million judgment against Connecticut-based Commonfund Realty Investors for pushing it out of four big Hollywood developments. Of course, all four are currently arrested and sound pretty dead--they include the renovation of the Hollywood Palladium (finished) and an adjacent residential/hotel tower project, a 16 story hotel on Argyle Ave., a 24 story hotel and a 16 story office tower near Hollywood and Highland, and a hotel/residential project at Hollywood Blvd. and Cherokee Ave. The Palladium is currently in receivership. [OC Register]
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