Brookfield DTLA Fund Office Trust Investor, a bellwether for the city's downtown office space, said subsidiaries that owned the 52-story Gas Company Tower at 555 W. 5th St. were in default on roughly $465 million in loans related to the building, according to a filing to the Securities and Exchange Commission. Lenders now may foreclose on the building, but the lenders had yet to exercise any of their options after the default as of Feb. 10.

Meanwhile, Brookfield DTLA defaulted on roughly $318.6 million in loans related to its 52-story 777 Tower at 777 S. Figueroa St., according to the filing. Similar to the Gas Company Tower, lenders have not exercised their options after the default, which includes foreclosure, as of Feb. 10. CoStar Group leases space in the 777 Tower.

The Brookfield DTLA fund, partially owned by Brookfield, owns six Class A office properties and a retail center in downtown Los Angeles totaling roughly 7.6 million square feet.

https://www.costar.com/article/104362755/brookfiel...

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