Free Republic

Troubles of Brookfield DTLA show how some office-sector bets are starting to unravel ... A major Los Angeles office owner operated by Brookfield Asset Management is struggling to make mortgage payments as vacancies and rising interest rates disrupt the city’s commercial real-estate market. The company, known as Brookfield DTLA Fund Office Trust Investor Inc., owns six Los Angeles office buildings and a retail center. Five of the office buildings face the risk of foreclosure, according to its public filings, and at least two of its mortgages are in default. The company on April 21 filed to delist from the New...

The downtown office market in major cities continues to struggle after changes brought on by the pandemic, as another major investor has defaulted on loans for a pair of Downtown Los Angeles skyscrapers. According to an SEC filing, Brookfield DTLA Fund Office Trust Investor said that subsidiaries that owned the 52-story Gas Company Tower at 555 W. 5th St were in default on $465 million in loans related to the building. In addition, Brookfield DTLA has defaulted on $319 million in loans related to its 52-story building on S. Figueroa Street, the 777 Tower. In both cases, lenders for both...

So which is it: Are people fleeing California and the Bay Area for cheaper housing, or swarming here for high-paying jobs? The answer is: both. A flurry of recent population reports have painted a confusing picture.

NEW YORK - A closely watched index shows home prices tumbling by the sharpest annual rate ever in July, but the rate of decline is slowing.