MERUELOMADDUX FILES CHAPTER 11 BANKRUPTCY

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LOS ANGELES — Los Angeles-based MerueloMaddux, a self-managed, full-service real estate company, along with a number of its subsidiaries, has filed, or will be filing, for voluntary petitions for relief under Chapter 11 Bankruptcy Code in California. The company plans to implement a comprehensive reorganization to restructure its debt. Excluded from the filing is the company’s 35-story 717 West 9th Street Tower, a residential tower project in Los Angeles that is currently under construction. The company expects to continue to manage its real estate portfolio and does not currently anticipate any disruption to its tenants.

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