OCEANWIDE HOLDINGS(SZ:000046) Xin Lang Cai Jing·2026-02-25 08:42Core Viewpoint - The Los Angeles "Graffiti Tower," which has been stalled for seven years, has officially found a buyer in a joint venture between KPC Group and Lendlease for a total price of $470 million, significantly lower than the initial budget of $1.2 billion, at only 39% of the original estimate [1] Group 1: Transaction Details - The acquisition price of $470 million is subject to confirmation by the U.S. bankruptcy court by April 9, 2023, with no higher bids expected [1] - The project, located directly across from the Crypto.com Arena, consists of twin towers of 55 and 42 stories, along with an 11-story hotel, and is approximately 60% complete [1] Group 2: Financial Allocation - Out of the $470 million, $70 million in cash will be prioritized for paying back taxes, security, and expenses incurred during the bankruptcy period [1] - The remaining $400 million will be allocated for the continuation of construction [1]