Jared Kushner's Company Nears Deal With Qatari-Backed Firm

Jared Kushner Family-Run Company Reportedly Set to Receive Bailout From Company Linked to Qatar Gov't

Brookfield Properties and the Kushner Companies have been contacted for comment.

A company linked to the Qatari government looks set to bail out White House adviser Jared Kushner's family after they have spent years struggling to sell a stake in their flagship NY property, it has been reported. The Qatar Investment Authority is Brookfield's second largest shareholder and the two have collaborated multiple real-estate developments over the years. The Times reported revenue from the building produces just half its annual mortgage payment.

They had previously made a deal with troubled Chinese holding company Anbang and Qatari billionaire Hamad bin Jassim Al-Thani to demolish the building and replace it with a US$7.5 billion luxury tower.

Jared Kushner's family business is nearing a deal on 666 Fifth Avenue Manhattan, the 41-story tower in Midtown Manhattan that's been described as a "growing problem" for the firm.

Kushner resigned as head of Kushner Companies when he joined the Trump administration past year, but retains a stake in the firm.

In his role as senior White House Advisor, Jared Kushner was later at the forefront of the effort that has led to a blockade of Qatar, raising questions over whether Kushner was acting to punish the country over the soured deal.

Strategic Wealth Advisors Group LLC Acquires 50264 Shares of Freeport-McMoRan (FCX)
The 52-week low presently is 49.00%, and the 52-week high is now set up at -18.69%. ( NYSE : FCX ) to report earnings on July, 24. For example, a stock may near its 52 week low in a price correction after earnings expectations for future quarters were revised.

The acquiring entity would be a Brookfield-managed private real estate fund, the source said.

The Kushner Cos. and Brookfield both declined to comment, and the White House and the Qatar Investment Authority did not immediately return requests for comment.

The deal would have included $500 million from the sheikh's investment firm, contingent on investment from others. Brookfield and Qatar also control the Canary Wharf office complex in London.

The deal would allow Kushner Companies to buy out Vornado Realty Trust's 49.5 percent stake in the tower.

Kushner will pay Vornado $120 million to settle an $80 million high-interest loan Vornado provided for the office building six years ago.

The building at 666 Fifth Avenue, owned by Kushner Companies, rises above pedestrians in New York, NY, U.S., March 30, 2017.

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