EY Plaza can’t catch a break, or at least its lenders can’t. It wasn’t enough for a deal to purchase the distressed downtown office tower to fall apart, no, its value also took a hit. It’s now worth about $135 million, down about 10 percent from its last valuation, according to Morningstar Credit. That’s a significant drop from the $446 million it was once worth. It’s becoming more apparent that Adam Rubin and Andrew Shanfeld’s Carolwood dodged a bullet when its $130 million deal collapsed. The 900,000 square foot, 41-story, Class A office building at 725 S. Figueroa Street was […]
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