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Commercial Real Estate Under Pressure as Brookfield Walks Away From Property Over Reported Refinancing Costs
Brookfield’s equity was effectively wiped out by debt costs, brokers say; Apollo-owned Bridge is working to sell the loan.
TLDR
In summer 2026, Brookfield said it was walking away from a $600 million project less than four years after it opened. Refinancing the property’s roughly $360 million loan reportedly would have required tens of millions in additional costs because of high interest rates. Apollo-owned Bridge Investment Group is working to sell the loan; real-estate brokers say debt costs effectively wiped out Brookfield’s equity.
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