LA’s Bankrupt ‘Graffiti Towers’ Finds Buyer for $470 Million

The bankrupt Los Angeles project dubbed the “Graffiti Towers” is being acquired by a joint venture of KPC Group and Lendlease Corp. for total consideration of $470 million, according to a court filing Monday.

The Oceanwide Plaza, whose developers spent $1.2 billion, has been stalled since 2018, when the Chinese-based builders ran out of money. It was tagged by graffiti artists in 2024, earning its nickname, before being forced into bankruptcy.

“We are excited to move forward with a catalytic investment that creates a path to turn around a key part of Downtown LA,” Kali P. Chaudhuri, founder of ...