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Elroy Jetson

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Elroy Jetson

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Saturday, 05/20/2023 3:59:31 AM

Saturday, May 20, 2023 3:59:31 AM

Post# of 110563
A year ago, Brookfield Property Partner’s downtown Los Angeles office portfolio encompassed 8 million square feet, including four of the city’s highest-profile trophy towers. It was not a stretch to say that the Canadian REIT dominated the downtown Los Angeles skyline.

What a difference a year makes: Brookfield has now defaulted or missed payments on collateralized mortgage backed security loans encompassing more than $1 Billion that are backed by three of its largest downtown Los Angeles office trophies.

https://www.globest.com/2023/05/18/brookfields-downtown-l-a-trophy-towers-falling-like-dominoes/?slreturn=20230420035147

We've run out of other people's Social Security taxes needed to subsidize our low income tax rates.

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