Los Angeles Office Tower Dumped by Brookfield Faces Foreclosure Sale [Yahoo! Finance]
Barclays PLC (BCS)
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Source: Yahoo! Finance
Most Read from Bloomberg Biden Gains Ground Against Trump in Six Key States, Poll Shows Japan Amps Up Intervention Threat as Yen Hits Lowest Since 1990 Trump's Net Worth Hits $6.5 Billion, Making Him One of World's 500 Richest People Using Your Premium Credit Card May Cost More After Visa-Mastercard Deal London Insurers Face Baltimore Bridge Payouts Worth Billions A notice of trustee's sale for the Gas Company Tower, located at 555 West 5th St., was filed March 21 with the Los Angeles County Recorder's office, setting the stage for a foreclosure sale as soon as 90 days after the filing. The foreclosure comes as the value of office buildings has plunged amid higher vacancies. Elevated interest rates have also weighed on prices, making it difficult for building owners to refinance debt. The price for office space in downtown Los Angeles is averaging about $141 a square foot ($1,517 per square meter), according to a note Wednesday by Barclays Plc. A nearby Brookfield t
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