The lender of The Line Hotel in Koreatown has bought back the lodging out of foreclosure in a landmark sale for Los Angeles this year. Corten Real Estate Partners purchased the hotel at 3515 Wilshire Boulevard from RECP Sydell Wilshire for $68 million, Bisnow reported, citing a midyear report from Atlas Hospitality Group. The foreclosure sale marks the largest hotel transaction in Los Angeles County so far this year. RECP Sydell Wilshire defaulted on a $100 million loan from Corten in February after failing to make a critical payment the previous month. The total amount of debt on the 384-room […]
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