Aside from having Brookfield in the name, the publically listed fund (REIT) that owns these DTLA office properties is really on its own and only has a small equity investment from Brookfield. Subsequently Brookfield is making asset management fees off management of the investment vehicle.

Reading the latest quarterly report is not great news for the REIT (ticker DTLA-P). They have very limited cash flow, multiple layers of debt and declining occupancies. It's like the debt holders are working with the fund to restructure the debt.

There are various reasons groups might invest in these properties including union pension funds that have trades that serve these buildings. There are some really good credit tenants in the buildings but they don't make up enough space for it be a "good" business case.

Bottom line, Brookfield the parent company should do fine. In the coming 5-10 years the equity investors here may come out with some kind of return but your money is probably better invested elsewhere.