A New York lender is suing Billionaire Bros. in a $2.5 billion hotel project in Los Angeles

By Joyce Hanson (March 4, 2022, 7:24 PM EST) – A New York-based lender for a $2.5 billion hotel project in Los Angeles has slapped an investment advisory firm linked to billionaire brothers Simon and David Reuben with a breach of contract lawsuit in state court, alleging the company failed to protect its financial interests following the default of a borrower.

The lender, CDCF IV Century Mezz LLC, claims advisory firm Motcomb Estates Ltd., which was set up to serve the real estate interests of the British brothers, has breached its contractual obligations as administrative agent under a September 2020 participation involving the leading mezzanine lenders of the Century Plaza Hotel redevelopment.

In July…

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