LA’s Gas Company Tower, dumped by owner, faces foreclosure sale

The Gas Company Tower was appraised in 2020 at $632 million but is now worth closer to $200 million, based on the $141-square-foot price cited by Barclays. An office tower in downtown Los Angeles is facing foreclosure a year after the owner, an affiliate of Brookfield Asset Management Ltd., walked away from the building.A notice of trustee’s sale for the Gas Company Tower, located at 555 West 5th St.

A nearby Brookfield tower at 777 S. Figueroa is being sold for about $145 million, roughly 50% less than the outstanding debt on the property.The Gas Company Tower was appraised in 2020 at $632 million but is now worth closer to $200 million, based on the $141-square-foot price cited by Barclays. Dodgers’ Shohei Ohtani says he never bet on sports, interpreter Ippei Mizuhara stole money, told lies

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