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Kushners near deal with Qatar-linked company: report

AFP  |  New York 

The company owned by the family of Donald Trump's son-in-law, Jared Kushner, is close to receiving a bailout of its flagship from a company with ties to Qatar, reported today.

Companies is in advanced talks with over a partnership to take control of the 41-story 666 Fifth Avenue, the newspaper reported, quoting two

Brookfield is a publicly traded company, headquartered in Canada, one of whose major investors is the Investment Authority.

Companies did not immediately respond to a request for comment. The bought the office tower 11 years ago for a record $1.8 billion but the building today only generates about half its annual mortgage payment, and 30 percent of the 41-story tower is vacant, reported.

Talks on another deal for Chinese conglomerate to invest in 666 Fifth Avenue collapsed a year ago amid criticism over the connection between Jared Kushner's political role and the family business, said.

left the family after Trump's election and is a key to the White House, but has retained most of his stake in the firm. said the Brookfield deal is likely to raise further concerns about his dual role in the and in

Earlier this year, Kushner lost his top-level security clearance. According to The Washington Post, China, Israel, and the had considered how to leverage Kushner's and political vulnerabilities.

The Investment Authority and have teamed up on several and also control the in London, the Times reported. Brookfield, which will take over leasing and operating the Fifth Avenue building, plans to spend hundreds of millions of dollars to give the 61-year-old structure a major face-lift, the newspaper added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 01:15 IST