The Orsini, left, is one of several buildings that have incurred financial losses as a result of an eviction moratorium, according to a new lawsuit filed against the city of Los Angeles. (Luis Sinco / Los Angeles Times)
Los Angeles Times - One of the region’s most prolific apartment builders has sued the city of Los Angeles over its COVID-19 eviction moratorium, saying his companies have experienced “astronomical” financial losses and are legally entitled to compensation from the city.
GHP Management Corp., owned by real estate developer Geoffrey Palmer, said in its lawsuit that 12 buildings it manages have experienced more than $20 million in lost rental income as a result of the measure. GHP, which filed the lawsuit along with several other Palmer companies, expects that number to triple by the time the moratorium’s provisions have expired.
The city enacted its temporary eviction restrictions in March 2020 — just as COVID-19 was triggering business shutdowns that threw people out of work — barring building owners from forcing out tenants who could not pay rent because of hardships caused by the pandemic.
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