Deals
Anbang Says 'There Is No Investment' in Kushner Office Tower
- Denial follows report of potential $4-billion building deal
- Proposal is seeking more investors and may need approvals
666 Fifth Avenue.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
One day after Bloomberg News reported on a potential deal between Anbang Insurance Group and Kushner Cos. for a Manhattan office tower, the Chinese insurer said it hadn’t invested in the building.
Bloomberg News reported Monday on a financing proposal circulated to investors that would make Kushner Cos. and Anbang partners in the tower, with the Kushners’ firm standing to receive more than $400 million from the insurer. The planned $4 billion transaction, details of which were shared with Bloomberg, includes terms that some real estate experts consider unusually favorable for Kushner Cos., and its current partners in the building, Vornado Realty Trust.