Brookfield Defaults on $161 Million Office-Property Debt
- Buildings are located mostly in the Washington, DC, region
- Brookfield has also had issues with properties in Los Angeles
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Brookfield Corp. funds have defaulted on a $161.4 million mortgage for a dozen office buildings, mostly around Washington, DC, as rising vacancies hit property values.
The loan transferred to a special servicer who is working with “the borrower to execute a pre-negotiation agreement and to determine the path forward,” according to a filing on the commercial mortgage-backed security.