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Airline Moves to Shore Up Financing on Los Angeles’ Tallest Building

In Tough Hotel and Office Market, Korean Air Could Sell Stake in Wilshire Grand Center
Korean Air Lines is lending $950 million to its Hanjin International Corp. subsidiary as part of a refinancing of Wilshire Grand Center, which houses commercial offices and an InterContinental hotel in downtown Los Angeles. (CoStar)
Korean Air Lines is lending $950 million to its Hanjin International Corp. subsidiary as part of a refinancing of Wilshire Grand Center, which houses commercial offices and an InterContinental hotel in downtown Los Angeles. (CoStar)
CoStar News
September 19, 2020 | 1:40 P.M.

The airline owner of Los Angeles' tallest tower may be seeking to sell some or all of it as it extends $950 million in loans to the building's hotel operator. The move comes as the coronavirus pandemic further hammers the hospitality industry.

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