Pimco, Witkoff Firm Default on $400 Million LA Apartment Complex

Pacific Investment Management Co. and Witkoff Group, the real estate developer founded by US special envoy Steve Witkoff, are in default on a $400 million-plus loan tied to a luxury...

By Bella Farr, John Gittelsohn · Bloomberg Markets

Pacific Investment Management Co. and Witkoff Group, the real estate developer founded by US special envoy Steve Witkoff, are in default on a $400 million-plus loan tied to a luxury apartment complex in Santa Monica, California, according to a notice filed with Los Angeles County.