For those who prefer text to YouTube videos, here are some interesting things included on the NBC LA
website regarding the sale of Oceanwide:
“We have multiple offers significantly higher than that and it could possibly trade for more than a billion dollars,” Tischer said. “All bidders will be invited, and I have no doubt that we will have interest from typical developers all the way through and including sovereign wealth funds from different countries.”
“Our process is a methodical and fair process,” Tischer said. “A lot of the process will be qualifying the bidders, making sure they have the resources to finish it because what we don’t want is another false start.”
The Colliers team believes a new buyer will be announced and work will re-start by the end of the year.
They hope the new owner will complete the project in time for the 2028 Olympics.
“I want our city to come off in our best light in 2028, and this is the lynch pin to having that happen,” Tarczynski said. “We live here, and it’s important to us that it gets into the right hands and that it gets finished.”