By John Gittelsohn | Bloomberg

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.

Also see: Southern California’s empty offices surge 67% in pandemic era

A notice of trustee’s sale for the Gas Company Tower, located at 555 West 5th St., was filed March 21 with the Los Angeles County Recorder’s office, setting the stage for a foreclosure sale as soon as 90 days after the filing.

The foreclosure comes as the value of office buildings has plunged amid higher vacancies. Elevated