Acore Capital files default notice against GPI Companies after developer fails to make payments.
Foreclosure proceedings are underway for a vacant 235,000-square-foot office campus along West Pico Boulevard after real estate firm GPI Companies defaulted on its loan obligations, as reported by The Real Deal.
Lender Acore Capital filed a formal notice of default and election to sell for the property at 10730 W. Pico Blvd., citing missed payments on a debt package that now carries an outstanding balance of $82.5 million…