The property asset involved in this transaction is an office located at 1101 South Flower Street in Los Angeles. The purchase agreement is valued at $470 million as the KPC Group, led by Kali P. Chaudhuri, acquires the long-stalled Oceanwide Plaza, a mixed-use project which has faced significant delays and issues since its abandonment in 2019.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $470,000,000
• Buyer: Kali P. Chaudhuri
• Company: The KPC Group
• Date: 02/23/2026
• Address: 1101 South Flower Street, Los Angeles
• Original Contractor: Lendlease
• Market: Los Angeles

This transaction was filed in federal bankruptcy court with the court reviewing higher bids by April 9. The acquisition is crucial as it is expected to contribute significantly to the revitalization of downtown Los Angeles, particularly in light of the upcoming Olympics, with support from local government officials including Mayor Karen Bass.