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Home Finance Fallas Family’s 88-Unit Metropolitan in Downtown LA Heads to Receivership as $32MM CMBS Loan Hits Foreclosure
FinanceIndustry NewsLos AngelesResidentialRetail

Fallas Family’s 88-Unit Metropolitan in Downtown LA Heads to Receivership as $32MM CMBS Loan Hits Foreclosure

July 31, 20263 Mins read1k
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A Los Angeles judge has handed control of the historic 88-unit Metropolitan on Broadway to a receiver while lender Natixis and special servicer LNR push a parallel foreclosure, capping a default tied to the collapse of the Fallas family's discount-retail empire.

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