GlassRatner Advises Oceanwide Plaza LLC on Chapter 11 Restructuring

GlassRatner Advisory & Capital Group is pleased to serve as financial advisor to Oceanwide Plaza LLC in connection with its Chapter 11 Plan of Liquidation, which has culminated in a $470 million Purchase and Sale Agreement for the sale of Oceanwide Plaza — one of Downtown Los Angeles’ most ambitious and closely watched development projects.

GlassRatner advised on the structuring of the Chapter 11 plan, which represents a significant milestone in resolving creditor claims and establishing a clear path forward for this high-profile asset. The plan paves the way for the revitalization of a landmark site and the delivery of a world-class, mixed-use destination in the heart of Los Angeles ahead of the 2028 Summer Olympic Games.

Oceanwide Plaza, located at 1101 South Flower Street in Downtown Los Angeles directly across from Crypto.com Arena and steps from LA Live and the Los Angeles Convention Center is one of the largest mixed-use development projects in the history of Southern California. Upon completion, the project will encompass approximately 1.5 million square feet across three high-rise towers, including what will be Los Angeles’ tallest residential building.