KPC Development to Acquire Oceanwide Plaza for $470M

Deal Summary

California real‑estate developer KPC Development Co., led by Kali P. Chaudhuri, has emerged as the buyer of the graffiti‑covered Oceanwide Plaza in downtown Los Angeles for $470 million, pending bankruptcy‑court approval by April 9. The acquisition, filed with partner Lendlease, aims to complete the stalled $1.2‑billion mixed‑use project and transform the site into housing, a hotel, retail and restaurants.