NEW YORK CITY-A tentative deal with LNR Property Corp. would allow developer Jared Kushner to retain his ownership of an office tower located at 666 Fifth Avenue by restructuring a loan worth $1.2 billion on the office part of the tower. He is also in discussion with Vornado Realty Trust, which would invest into the deal to finance the upcoming expenditures.
Vornado would acquire about 50% share in the office tower. Kushner purchased the property for $1.8 billion in 2007. For the full story, go to Wall Street Journal .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.