Brookfield Asset Management secured an option to buy the land under 666 Fifth Avenue from Kushner Companies as part of a deal to lease the office tower for 99 years, according to the memorandum of lease. The option to buy the so-called fee interest becomes available “at certain limited times and circumstances during the term of the lease,” the memorandum reads. It wasn’t immediately clear under what times and circumstances the purchase option is permitted. […]
source https://therealdeal.com/2018/08/13/brookfield-secures-option-to-buy-land-under-666-fifth/
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