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New Buyer Emerges for Graffiti-Covered Oceanwide Plaza Towers in Downtown LA
KPC Group and Lendlease plan to revitalize the stalled Oceanwide Plaza project after bankruptcy, with city officials demanding immediate cleanup of the graffiti-covered towers.
- On Monday, KPC Group and Lendlease filed for ownership after the bankruptcy court approved the takeover of Oceanwide Plaza’s three high-risers on Flower Street.
- After Oceanwide Holdings defaulted, construction stalled on Oceanwide Plaza, a 2015 mixed-use project halted by foreclosure and bankruptcy proceedings.
- The vacant towers were covered in graffiti and attracted stunts, while Los Angeles Police Department officers logged thousands of hours and added overtime patrols, with then-LAPD Chief Michel Moore saying, `This has strained our deployment.`
- City leaders urged the new owners to secure and clean the property soon, with Councilmember Ysabel Jurado saying, `I really hope that the new owner is going to be a good neighbor. You know, it's right across the street from the Convention Center and some have said the graffiti towers are the front door to downtown, and so we want to make sure that... whoever the owner is, takes responsibility and they clean it up.`
- KPC called the deal a catalytic investment, and the buyers said they will release more details once court filings are complete and the approval process progresses.
23 Articles
23 Articles
Buyer Emerges for Downtown LA's Infamous Graffiti Towers in $470 Million Deal
February 24, 2026 – A long-stalled luxury development in downtown Los Angeles, known for its graffiti-covered skyscrapers, is poised for revival after a Riverside County developer submitted a $470 million bid to acquire the unfinished Oceanwide Plaza project. The KPC Group, led by Dr. Kali P. Chaudhuri, along with partner Lendlease-the original contractor-filed the purchase agreement in federal ba...
LA’s infamous graffiti towers finally get a buyer — and he’s got huge plans after splashing $500M
The unfinished three-tower complex, once slated to be a $1.2 billion luxury oasis across from Crypto.com Arena, has attracted attention over the last couple of years essentially as a canvas for vandals.
Bankruptcy Plan Filed to Pave Way for Sale of Oceanwide Plaza, Downtown Los Angeles' "Graffiti Towers"
LOS ANGELES, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Hilco Global ("Hilco"), in its capacity as court-approved real estate broker, announced today that Oceanwide Plaza LLC ("Debtor") has entered into a Purchase and Sale Agreement ("PSA") for the sale of Oceanwide Plaza — one of Downtown Los Angeles' most ambitious and closely watched development projects — for $470 million in total consideration. The transaction constitutes the cornerstone of the Debt…
Pasadena Star News
New buyer emerges for graffiti-covered Oceanwide Plaza Towers in Downtown LA
The graffiti-covered Oceanwide Plaza towers in downtown Los Angeles — an abandoned high-rise development that has drawn attention for massive tagging and daredevil base jumpers — moved closer to a potential sale today after a new buyer emerged in bankruptcy proceedings. Kali P. Chaudhuri, founder and chairman of The KPC Group, which bills itself as “global enterprise” advancing real estate and healthcare, is seeking to purchase and finalize the …
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