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Kushners ink deal to exit controversial New York property: report

The Hill logo The Hill 8/4/2018 Jacqueline Thomsen
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The family business of President Trump's son-in-law Jared Kushner has reached a deal to lease out a Manhattan building that has reportedly faced scrutiny from special counsel Robert Mueller.

The Wall Street Journal reported Friday that Kushner Cos. has agreed to lease the building at 666 Fifth Avenue to Brookfield Asset Management for 99 years.

The real estate company purchased the building in 2007 for $1.8 billion, a decision made under the leadership of Kushner.

The Journal reported that, while the details of the agreement were not disclosed, people involved in the negotiations said Kushner Cos. would receive enough to pay off the more than $1.1 billion debt it has on the building, or buy out its partner, Vornado Realty Trust, for $120 million.

CNN reported earlier this year that the building has caught the eye of Mueller, as he is seemingly examining Kushner's attempts to secure foreign investments for the family real estate business during the presidential transition.

Mueller is reportedly examining meetings between Kushner and potential Chinese and Qatari investors for the Fifth Avenue property.

Questions have been raised about Kushner Cos. since Kushner joined the White House as an adviser to Trump last year.

The White House aide sold his stake in the Fifth Avenue property, but still faced concerns over whether his position was benefiting the family company.


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