WASHINGTON, DC—A foundation launched by billionaireMichael Milken is reportedly in talks to acquirethe former headquarters of Riggs Bank located near the WhiteHouse.
The foundation confirmed its interest in the property that isnow owned by PNC Bank, according to the WashingtonPost. “The Milken Family Foundation is exploring having ameaningful presence in our nation's capital consistent with itswork since 1982 to improve K-12 education and medical research asit continues to celebrate and recognize outstanding educators andothers who are making a difference in our lives,” saysBonnie Somers, a spokeswoman for thefoundation.
The foundation, which Milken founded with his brother Lowell,focuses for the most part on education and medical researchinitiatives, including programs in the Washington, DC area.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
