According to watch lists, eight of Brookfield's US mall properties in financial distress and at least one super-regional has arrived at the same destination as two of the Canadian real estate giant's trophy office buildings in Los Angeles: receivership.

Foreclosure proceedings began in January on one of Brookfield's largest malls, the 1.7M SF Woodbridge Center, which sits at the confluence of four major highways in New Jersey where the Driscoll Bridge spans the Raritan River and connects northern NJ with the Jersey Shore.

Woodbridge Center has been under water since the beginning of the pandemic. In June 2020, two months after the mall lost its anchor, Sears, Brookfield started missing payments on a debt package valued at $366M on issuance and the loan was transferred to special servicing, Morningstar reported.