Brookfield Seeks to Restructure Loan on London’s CityPoint Tower

Brookfield Corp. is seeking approval to restructure a loan secured against London’s CityPoint tower after failing to sell or refinance the building ahead of an extended deadline.

The firm has asked bondholders to agree to a further extension of the loan to January 2028 from its current deadline of April 20, according to a notice Tuesday. It has also proposed securing an additional loan with a margin of 15% that would help cover the cost of fees associated with the restructuring and amendments to a change of control clause that would allow the private equity firm to transfer the asset to another Brookfield managed vehicle.