The owner of The Mountain of Beverly Hills mega-listing has filed for bankruptcy protection, The Real Deal has learned. The Chapter 11 proceeding marks the giant bubble bursting on the 157-acre spread of undeveloped land, listed last July for a record-breaking $1 billion. The sprawling development site on Tower Grove Drive remains on the market, now for nearly half the price. The owner, Secured Capital Partners, filed for Chapter 11 on Wednesday, a day before […]
source https://therealdeal.com/la/2019/05/30/from-billion-to-bankrupt-owner-of-the-mountain-of-beverly-hills-files-chapter-11/#new_tab
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