The firms have been selected to lead an orderly sale effort of Downtown L.A.’s most ambitious development.
Los Angeles, Calif. May 7, 2024 – Colliers, with Hilco Real Estate, is pleased to announce they have been awarded the listing assignment for one of Downtown Los Angeles’ largest and most ambitious development projects, the mixed-use residential, hotel and retail complex, Oceanwide Plaza. The assignment, subject to bankruptcy court approval, comes to the firms following an appointment by Oceanwide Plaza, LLC. The team of experts tapped to lead the disposition and marketing of the development comprises Colliers’ Mark Tarczynski and Nathan A. Fong, Executive Vice Presidents; Adam Tischer, Senior Vice President; Andy Y. Kazama, Vice President; and Hilco Real Estate’s Jeffrey Azuse, Executive Vice President, and Daniel Miggins and Jamie Cote, Vice Presidents.
“Representing a truly remarkable opportunity, Oceanwide Plaza is an important and iconic development, central to Downtown Los Angeles and across from Crypto.com Arena. We are determined to run a disciplined and orderly process to identify the right developer to finish the project in time for the 2028 Summer Olympics,” said Mark Tarczynski.
The team’s collective expertise includes exclusive focus and a proven track record in the disposition of development properties in Downtown Los Angeles. Leveraging the extensive combined global networks of Colliers and Hilco, and utilizing innovative targeted marketing capabilities, they are tasked with securing a qualified buyer who aligns with the vision of the site to create a premier destination.
“Oceanwide Plaza represents an extraordinary opportunity to complete one of the largest Downtown mixed-use developments, encompassing best-in-class residential, hotel, retail, dining, and entertainment within the heart of Downtown Los Angeles, adjacent to Crypto Arena and L.A. LIVE,” said Nathan A. Fong
Oceanwide Plaza, one of the largest mixed-use developments in the history of Downtown Los Angeles, encompasses three towers occupying an entire city block at 1101 South Flower Street, designed to house a Park Hyatt hotel, serviced residences, and luxury condominiums, enhanced by expansive retail space and private parks. Once completed, Oceanwide Plaza will span a staggering 1.5 million square feet of real estate in the epicenter of Downtown Los Angeles, Southern California’s largest and most diverse commercial market.
