Former multi-division world champion faces foreclosure on Los Angeles property.
Nowadays, Oscar De La Hoya is known as the founder of Golden Boy Promotions, an outfit with a stable that houses some of the most talented fighters in the world.
But from the early 1990s to the late 2000s, ‘The Golden Boy’ had 45 professional boxing matches, winning 39 and becoming a world champion in six separate weight divisions.
His fights with the likes of Floyd Mayweather Jr., Manny Pacquaio, and Shane Mosley are amongst the highest-grossing bouts in boxing history, and he was once the top pay-per-view earner ever before Mayweather took that title from him.
But now it is being reported by The Real Deal that Oscar De La Hoya has defaulted on a $27 million commercial mortgage backed securities loan for an office building in Los Angeles that his company owns and occupies.
De La Hoya owes around $23 million relating on the building and risks foreclosure on the property.
This property is 12 stories high and approximately 150,000 square feet in length, with Oscar De La Hoya occupying 7% of it (equivalent to 10,500 square feet). It is located in the Financial District of Lower Manhattan at 626 Wilshire Boulevard, and De La Hoya is its second-largest tenant.
The debt has been around for over ten years, and the property’s value has taken a nosedive in that time.
Worth $40 million in 2015, it was estimated to be worth $19 million in 2025.
Golden Boy Promotions were reported by The Los Angeles Times to have purchased a controlling interest in the property for $16 million in 2004.
Barker Pacific Group, from whom Golden Boy purchased the interest from, are believed to still hold ownership and kept a minority share.
The founder of the Barker Pacific Group, Michael Barker, is the only loan sponsor mentioned by name apart from De La Hoya.
As Barker passed away at the age of 80 in December of 2024, De La Hoya appears to be the only living loan sponsor.
It is reported that De La Hoya is seeking a loan modification and extension of the maturity date, while simultaneously continuing discussions and has called a lawyer.
Oscar De La Hoya will be hoping to put this issue behind him sooner rather than later to avoid foreclosure on the property or further financial loss.
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