Oscar De La Hoya is facing potential foreclosure on an office building he owns in downtown Los Angeles that houses the headquarters of Golden Boy Promotions. According to real estate news outlet The Real Deal, De La Hoya has defaulted on a $27 million loan tied to the property after missing a repayment deadline.
The report states that De La Hoya now owes nearly $23 million and is attempting to avoid foreclosure by seeking modified loan terms. If no agreement is reached, the lender could move forward with foreclosure proceedings on the building.
The 12-story property spans 150,000 square feet and is currently 40% vacant. Golden Boy Promotions occupies approximately 7% of the building, which has reportedly been affected by difficulties in attracting and retaining tenants, limiting revenue needed to service the loan.
Located at 626 Wilshire Boulevard, the building sits within walking distance of the Crypto.com Arena, where a statue honoring De La Hoya remains in place.
As negotiations continue, the situation places uncertainty over a property closely tied to one of boxing’s most recognizable promotional companies.
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