Meruelo and Maddux are both out at Downtown development firm Meruelo Maddux as a bankruptcy reorganization plan takes effect today. The Downtown News reports that under the agreement, there's a new CEO at the company (Martin Caverly, most recently with LA-based Hackman Capital) and $23.6 million in new equity from investors. The paper says a name change is likely (makes sense) and the firm could sell the Union Lofts and other Downtown buildings. Pictured: the building formerly known as Meruelo Maddux's 717 W. Ninth [Downtown News]
Filed under:
Neither Meruelo Nor Maddux
The Latest
Curbed LA Is Closing
Head to Curbed.com — soon to be a part of the New York Magazine family — for more of the Curbed LA that you know and love.
Koreatown Craftsman With Lots of Hand-Carved Woodwork Asks $1.5M
Built in 1910, the house sits on a lush property that includes a recording studio out back.
Loading comments...