Skip to content

Brookfield Defaults on Two Los Angeles Office Towers

  • Properties include the Gas Company Tower and the 777 Tower
  • Brookfield DTLA Fund had warned it may face foreclosures
Bloomberg business news
Brookfield’s Flatt Says Commercial Real Estate Market a 'Tale of Two Cities'

Brookfield Corp., parent of the largest office landlord in downtown Los Angeles, is defaulting on loans tied to two buildings rather than refinancing the debt as demand for space weakens in the center of the second-largest US city.

The two properties in default, part of a portfolio called Brookfield DTLA Fund Office Trust Investor, are the Gas Company Tower, with $465 million in loans, and the 777 Tower, with about $290 million in debt, according to a filing. The fund manager had warned in November that it may face foreclosure on properties.