Los Angeles office skyscraper faces foreclosure sale [Yahoo! Finance]
Brookfield Corporation Class A Limited Voting Shares (BN)
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Source: Yahoo! Finance
A notice of trustee's sale for the high-rise on Bunker Hill was filed March 21 with the Los Angeles County Registrar-Recorder/County Clerk, setting the stage for a foreclosure sale as soon as 90 days after the filing. The sale may complicate plans by the city of Los Angeles to lease more than 300,000 square feet in the building. The city has been negotiating with the receiver in control of the property for months to sign what would be one of the region's largest office leases of the year if it is approved by the City Council. The foreclosure comes as the value of office buildings has plunged amid higher vacancies. Elevated interest rates have also weighed on prices and made it difficult for building owners to refinance debt. The 52-story Gas Company Tower at 555 W. 5th St. was widely considered one of the city's most prestigious office buildings when it was completed in 1991. In recent years the office market has turned against landlords as many tenants reduced their office foo
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BN
Earnings
- 2/8/24 - Miss
BN
Sec Filings
- 4/12/24 - Form 6-K
- 4/9/24 - Form 6-K
- 4/9/24 - Form 6-K
- BN's page on the SEC website