The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Brookfield Entity Defaults on $784 Mil of Loans on Two DTLA Office Towers

2/16/23

Brookfield DTLA Fund Office Trust Investor, one of the largest office landlords in downtown Los Angeles, has defaulted on $784 mil of loans on two DTLA office towers, according to multiple media reports. The publicly traded entity was formed by and is owned in part by Canada-based Brookfield.

The company defaulted on $465 mil in loans secured by the Gas Company Tower, a 52-story high-rise at 555 West 5th St. Brookfield also defaulted on $319 mil in loans on 777 South Figueroa St, another 52-story skyscraper in L.A.’s CBD.

Gas Company Tower
Gas Company Tower
The financing on the 52-story Gas Company Tower consists of a $350 mil mortgage loan, a $65 mil mezzanine loan and a $50 mil junior mezzanine loan. The loan package on 777 S. Figueroa consists of a $269 mil mortgage and a $50 mil mezzanine loan.

Citi Real Estate Funding and Morgan Stanley hold the two-year, floating rate mortgage on the Gas Company Tower, and teamed with a Principal Financial Group entity on the mezzanine loans. Wells Fargo holds the mortgage loan on 777 S. Figueroa.

The two high-rises are part of six Class A office properties and a retail center totaling 7.6 msf in downtown Los Angeles owned by Brookfield DTLA Fund Office Trust Investor. The other assets, not affected by these defaults, include the 1.4 msf FIGat7th retail center and the 1.4 msf Bank of America Plaza.





Return to the Archive page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media