Canadian real estate giant Brookfield Asset Management is moving to head off trouble with loans backed by office towers in Brooklyn and Denver.
This week, Brookfield disclosed that a $130M loan on 15 MetroTech Center, a 675K SF office tower on Myrtle Avenue in Brooklyn, is being transferred to special servicing ahead of its maturity date.
The CMBS on the MetroTech tower currently is not in default, and Brookfield said it's hopeful it can reach a deal to modify the loan, Bloomberg reported. Brookfield will continue to manage and lease 15 MetroTech Center.
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