Christian Candy, a Monaco-based real estate entrepreneur, will hand over an eight-acre site in Beverly Hills to settle a dispute over a $365.5m loan that’s in default.

Project Lotus, controlled by Candy’s CPC Group, will transfer 9900 Wilshire tomorrow to a group of lenders led by Mexico’s Banco Inbursa, said a person involved with the deal who asked not to be named because the information is confidential. An Inbursa spokesman, who declined to be identified because of company policy, confirmed the arrangement.