Redcar hands back keys to Santa Monica creative offices to lender
Redcar returned the keys to its Santa Monica creative offices to Bank OZK through a deed in lieu of foreclosure after defaulting on a $50 million loan. The Silicon Beach property, popular with creative tenants, now sits with the lender. LA entrepreneurs face tighter credit and fewer flexible workspace options as lenders take back distressed assets.
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Summary written by Entrepreneurs Of Los Angeles. The original reporting belongs to The Real Deal; we do not republish the article.