The Financial Post reports in its Thursday edition that unnamed sources say Brookfield Asset Management is in talks with banks to refinance a loan that had backed its purchase of a Shanghai-based office tower complex five years ago. A Bloomberg dispatch to the Post reports that sources say Brookfield has a $700-million offshore senior loan due by year-end, which financed its 2019 purchase of a mixed-use property from Greenland Hong Kong Holdings (all figures U.S.). Brookfield is working on a financing package that includes offshore and onshore components. Brookfield is seeking over $900-million in offshore financing and have secured a 15-year onshore loan of $276-million from Bank of China at about 4-per-cent interest. Discussions are ongoing amid China's real estate slump, which has led to increased commercial vacancy rates. A spokesman for Brookfield and Bank of China declined to comment. Shanghai's prestigious business districts saw office vacancies rise to 21.5 per cent in the third quarter, the highest in nearly two decades, as reported by CBRE Group. This year, the risk is increasing due to a supply pipeline expected to be the highest in five years. Brookfield acquired the complex from Greenland Hong Kong in 2019.