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🔺 Real Estate Giant Defaults on over $1.1B in Debt 🔺
Brookfield, a major real estate firm, is facing huge losses in its Downtown L.A. office portfolio, defaulting on over $1.1B in related debt. #RealEstate #LosAngeles
Brookfield, a major real estate firm, is facing huge losses in its Downtown L.A. office portfolio, defaulting on over $1.1B in related debt. #RealEstate #LosAngeles
🏢 The company has lost two prominent assets, the Gas Company Tower and EY Plaza, to court-appointed receivers as the pandemic continues to challenge the office real estate market. #Pandemic #RemoteWork
📉 #Brookfield's Downtown L.A. office portfolio saw occupancy drop to 77.2% at the end of 2021, and around 30% of all office space in the area is now vacant. #OfficeSpace
Violent clashes broke out among police and demonstrators in downtown L.A. amid protests at City Hall and the Federal Building
ktla.com/news/local-new…
ktla.com/news/local-new…
Protesters also marched along the 101 Freeway in #downtownLA while chanting: “What do we want? Justice! When do we want it? Now!”
LAPD has declared a citywide tactical alert amid the demonstrations
