A wave of borrowers defaulted on loans tied to commercial properties across L.A. and Orange County this year, as they struggled to make mortgage payments tied to offices, construction projects and malls.
Brookfield Properties' DTLA fund defaulted on about $1.1 billion worth of debt tied to three towers in Downtown L.A. between February and May, after rising rates hiked monthly debt payments on the towers.
[
add
]
[
|
|
...
]