Los Angeles
Dec 7, 2023
Shangri-La Industries sued after defaulting on Project Homekey loan
Lender asks for receiver on motel conversion while state looks at “apparent violations”
Salinas
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Los Angeles
Jan 15, 2024
Shangri-La Industries loses control of two more Project Homekey sites
Receiver takes helm for motel conversions in San Bernardino and Salinas
Los Angeles
Dec 19, 2023
Shangri-La’s Project Homekey motel in Salinas heads to receivership
CEO blames state for loan defaults and cites “tens of millions of dollars in overages”