Financial Analyst

Agreement reached on sale of graffiti-covered downtown LA building. LOS ANGELES (KESQ) - A U.S. Bankruptcy Court judge today cleared the path for sale of the abandoned graffiti-covered Oceanwide Plaza.development in downtown Los Angeles. The ruling from the Judge Deborah J. Saltzman followed the withdrawal of objections by both the city of Los Angeles and Los Angeles County during Monday's hearing. Saltzman's confirmation order is expected to be filed Tuesday morning, according to a statement from Hilco Global, the court-approved broker for the bankruptcy sale of Oceanwide Plaza. Hilco Global had announced on Feb. 23 an agreement by KPC Square, LLC, owned by a new joint venture by affiliates of Oceanwide senior creditors, The KPC Group and Lendlease, to purchase the property from Oceanwide Plaza LLC for $470 million. "This confirmation is the culmination of a long and complex process, and it delivers exactly what we set out to achieve: a credible path to finally bring this project back to life," Bradley Sharp, Oceanwide's chief restructuring officer, said in a statement. "We are grateful to the court, the creditors, and the city and county for working with us toward a resolution that serves everyone's interests, including the people of Los Angeles." The city's withdrawal of its objection, filed Monday morning, came after months of negotiations between the city and KPC Square, facilitated by Sharp on behalf of the debtor. Counsel for Los Angeles County also confirmed the county's withdrawal on the record during the hearing, the statement said. As part of the amended plan confirmed by the court, the debtor will begin the removal of all visible graffiti on the site within 30 days, with the support of KPC Square, the statement said. The KPC Group bills itself as "global enterprise" advancing real estate and healthcare. Lendlease was the original contractor for the project. The development has drawn attention for massive tagging and daredevil base jumpers. Oceanwide Plaza, a planned $1 billion multi-use complex, began construction years ago, but stalled in 2019 when Beijing-based developer Oceanwide Holdings could no longer finance it. The complex would have included housing, hotel space and retail stores, building up the area near Crypto.com Arena. In 2024, the unfinished towers became a major downtown eyesore after graffiti vandals covered at least 25 floors, followed by dangerous stunts including base jumping that were captured on video and widely shared on social media. That same year, Lendlease filed an involuntary Chapter 11 bankruptcy petition against Oceanwide Holdings to force a sale and repay creditors, according to the Los Angeles Times. Oceanwide also owes back taxes to Los Angeles County and the city, the newspaper reported. City officials previously approved about $1.1 million to install fencing along 12th Street between Figueroa and Flower streets and secure ground-floor areas, along with allocating funds for temporary Los Angeles Police Department security at the property.

Hilco global-unused WEINMANN/HOMAG wood panel system up for sale. Hilco Global's commercial industrial practice and Integra Asset Solutions are pleased to announce the immediate sale of a never used or installed WEINMANN / HOMAG premium engineered automated prefabricated wood panel manufacturing system for offsite construction. The system is ideal for offsite construction firms, modular builders, and wood product manufacturers seeking to expand capacity without having to wait on long OEM lead times. This sale offers a comprehensive collection of premium machinery and equipment originally configured for large-scale production of prefabricated wood building components. The system was engineered for high-volume production of prefabricated wood building components, including floors, roofs, and interior and exterior wall panels for multi-family offsite construction. "This equipment also offers flexibility for general industrial wood processing applications and is available for immediate purchase and delivery - significantly reducing lead times compared to ordering new from the manufacturer," said John Magnuson, President & Managing Partner of Integra Asset Solutions. System Highlights: * (6) Distinct automated production lines comprised of over (85) individual components * The modular nature of the equipment allows for partial acquisition of specific production lines or individual components to match existing operations or create custom manufacturing workflows * Equipment was new between 2021 - 2023, has never been placed into production, and has been stored in original condition & packaging since delivery from Germany * All equipment features UL/CSA compliance for North American electrical standards * Documentation includes original technical specifications, equipment layout schematic, and detailed equipment listing with serial numbers PRODUCTION CAPABILITY Element dimensions: 1.5 to 3.2 meters wide, up to 16 meters long Frame heights: 75-200mm with adjustable configurations Processing accuracy: +/-1mm positioning tolerance Assets Location: All equipment is professionally wrapped and stored in a climate-controlled warehouse in Windsor Locks, Connecticut, USA. Additional Information: Detailed equipment lists, photos, and specifications are available at Integra's website. Opportunities to acquire a turnkey, never-installed system of this scale and quality are extremely limited in the secondary market. Interested parties can contact: Tim Pfister at 708-765-4029 or [email protected]. About Integra Asset Solutions Integra Asset Solutions specializes in the valuation and liquidation of commercial and industrial assets, delivering a high-touch, client-first approach that sets the firm apart in the marketplace. Integra's clients benefit from direct access to decision-makers and an experienced in-house team capable of executing complex projects efficiently from start to finish. With decades of experience maximizing recovery values across a broad range of industries, Integra serves both small businesses and multinational corporations. Visit integra-as.com. About Hilco Global Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions helping clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, brand and intellectual property sectors, and more. Hilco Global provides a range of customized solutions to healthy, stressed, and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents.

White Oak Commercial Finance has closed a $192 million senior secured credit facility for Royal Cup Coffee and Tea, comprising a $155 million revolver and a $37 million term loan. White Oak acted as sole lead arranger and revolver lender, whilst Hilco Global served as administrative agent on the term loan. The financing enabled Royal Cup, a Braemont Capital portfolio company, to acquire Farmer Brothers Coffee Co. and provide working capital for the combined businesses. The acquisition expands Royal Cup's national footprint and manufacturing capabilities whilst strengthening its position across commercial beverage markets. Founded in 1896, Royal Cup manufactures and distributes coffee and tea throughout the United States, Mexico, Canada and the Caribbean, serving food service, hospitality, convenience and office markets.