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 Debtor's Plan of Liquidation, which sets forth the treatment and distribution of claims of creditors of the bankruptcy estate and paves the way for the revitalization of a landmark site to deliver a world-class, mixed-use destination to the heart of Los Angeles ahead of the 2028 Summer Olympic Games.
"From the moment we were engaged, our mandate was