, 3 tweets, 2 min read Read on Twitter
Qatari sovereign wealth fund (QIA) & Crown Acquisitions buy stakes in NYC properties from Vornado Realty including retail level at 666 Fifth Ave - Vornado to use $390m of $1.3bn cash from Crown & QIA to pay off loan on 666 Fifth bldg co-owned w/Kushner Cos
ft.com/content/59378b…
The QIA & Crown stakes in Vornado portfolio is likely to attract scrutiny given close ties between Qatari royal family and Jared Kushner, whose own family real estate empire ran into difficulty in recent years and was indirectly helped by QIA.
ft.com/content/59378b…
More on Vornado, which co-owns 666 Fifth Ave w/Kushner Cos (Brookfield has 99 yr lease from Kushner Cos for office bldg, QIA/Crown is buying stake in Vornado's lower retail part) - Vornado also partners w/Donald Trump on 2 of his most profitable properties
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