![\"Placeholder\"\/](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/1750589843_18_placeholder.png\")
<\/p>\n <\/p>\n
\n A 2015 photo of the Figat7th shopping center\n <\/p>\n
Brookfield<\/a> is listing another Downtown property, but this time, it’s a\u00a0well-occupied retail center instead of a distressed office building.<\/p>\n JLL<\/a> is marketing Brookfield’s\u00a0FIGat7th,\u00a0according to\u00a0The Real Deal<\/a>, which viewed an offering memorandum for the property. \u00a0\u00a0<\/p>\n The 330K SF shopping center at\u00a0735 S. Figueroa St. boasts higher occupancy than some of the office towers Brookfield has jettisoned in the last few years. The outdoor retail\u00a0center counts Target, Sephora and Zara as anchor tenants. It is\u00a0nearly 86% occupied.\u00a0<\/p>\n Brookfield\u00a0previously\u00a0fought to hold on to\u00a0the property<\/a>. In 2023, it secured\u00a0a three-year extension on the $58.5M outstanding on a loan\u00a0MetLife<\/a> originated in 2018. The exact maturity date is unknown, but the extension would put maturity in or around the first quarter of\u00a02026.\u00a0\u00a0<\/p>\n While the memorandum didn’t mention a price, TRD cited sources estimating that the property could sell for $70M, or about $210 per SF, a bargain compared to recent retail sales in other submarkets.\u00a0<\/p>\n Runway Playa Vista<\/a>‘s retail segment\u00a0sold for\u00a0about\u00a0$915 per SF<\/a>\u00a0earlier this year, and\u00a0One Westside<\/a> in Sawtelle sold for\u00a0$711 per SF. Those properties are in affluent Westside neighborhoods. Downtown, on the other hand, has suffered a hit to its reputation that has affected offices as well as multifamily.\u00a0<\/p>\n Brookfield has a handful of office towers on the market in Downtown, including Bank of America Plaza<\/a>, the Wells Fargo Center towers<\/a>\u00a0and EY Plaza<\/a>. These three properties have roughly $1B of debt in default between them.\u00a0<\/p>\n Brookfield is also seeking to offload another retail property in Downtown. Halo, the retail property\u00a0Brookfield\u00a0owns at Wells Fargo Center\u2019s North Tower, is part of\u00a0Eastdil Secured<\/a>\u2019s\u00a0marketing\u00a0of the mortgage loan<\/a>\u00a0connected to that property.<\/p>\n","protected":false},"excerpt":{"rendered":"A 2015 photo of the Figat7th shopping center Brookfield is listing another Downtown property, but this time, it’s…\n","protected":false},"author":3,"featured_media":455035,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5123],"tags":[26489,1582,276,2499,2961,224,208505,5337],"class_list":{"0":"post-455034","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-los-angeles","8":"tag-brookfield-properties","9":"tag-ca","10":"tag-california","11":"tag-downtown-los-angeles","12":"tag-la","13":"tag-los-angeles","14":"tag-los-angeles-retail","15":"tag-losangeles"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115739253295599315","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/455034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=455034"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/455034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/455035"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=455034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=455034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=455034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}