Brookfield Acquires 99-Year Lease Of Kushner's Manhattan Tower
Brookfield Asset Management said on Friday it acquired a 99 year lease on a Manhattan office tower majority-owned by a company that was previously run by Jared Kushner, son-in-law of U.S. President Donald Trump.
The financial details of the deal were not disclosed.
The building has been in the news after Trump became president because of potential conflicts of interest. Jared Kushner stepped down as chief executive of Kushner Companies in January 2017, when his ownership stake was put in a trust.
In May, Reuters reported that Brookfield would oversee the redevelopment of the building - 666 Fifth Avenue, a 39-story tower controlled by Kushner Companies.
Brookfield Properties said it would operate the building and plan a major redevelopment program to upgrade it.
The financial details of the deal were not disclosed.
The building has been in the news after Trump became president because of potential conflicts of interest. Jared Kushner stepped down as chief executive of Kushner Companies in January 2017, when his ownership stake was put in a trust.
In May, Reuters reported that Brookfield would oversee the redevelopment of the building - 666 Fifth Avenue, a 39-story tower controlled by Kushner Companies.
Brookfield Properties said it would operate the building and plan a major redevelopment program to upgrade it.