Lenders are looking to sell the debt connected to the Brookfield-owned EY Plaza after a deal to purchase the distressed downtown office tower fell apart. Colliers peddled the $275 million non-performing loan in an offering memorandum, stressing “a massive discount to note balance,” while playing up what it called an iconic tower. The 41-story, 900,000 square foot property at 725 South Figueroa Street was placed in receivership two years ago after a debt default. The last appraisal put its value at $150 million compared to $446 million when the note was issued. That happens to be more than what the […]
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