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Brookfield Asset Management’s (US:BAM) real estate subsidiary, Brookfield Property Partners (CA:BPYP-A), recently defaulted on $275 million of CMBS (commercial mortgage-backed securities) underpinning the financing on its 41-story office tower at 725 South Figueroa St. in downtown Los Angeles. It is the second office tower in Los Angeles that Brookfield has defaulted on. So how […] ....
A major Los Angeles office owner operated by Brookfield Asset Management is struggling to make mortgage payments as vacancies and rising interest rates… ....