Brookfield in talks to acquire stake in Kushner-owned tower: source

NEW YORK (Reuters) – Brookfield Property Partners is in talks to acquire a stake in a Fifth Avenue office tower majority owned by a company that was previously run by Jared Kushner, son-in-law of President Donald Trump, a source familiar with a potential deal said on Thursday.

White House Senior Advisor Jared Kushner arrives for U.S. first lady Melania Trump’s “launch of her initiatives” and “Be Best” campaign in the Rose Garden at the White House in Washington, U.S., May 7, 2018. REUTERS/Kevin Lamarque

Brookfield (BPY.O), one of the world’s largest real estate companies, would oversee the redevelopment of 666 Fifth Avenue, which is controlled by Kushner Companies, the source said.

Contrary to a published report, the Qatar Investment Authority is not an investor in the transaction, the source said.

Reporting by Herbert Lash; Editing by Phil Berlowitz

JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/businessNews/~3/2aShFF64szo/brookfield-in-talks-to-acquire-stake-in-kushner-owned-tower-source-idUSKCN1II2RH

Author: JEFFREY LIPTON BARBADOS