Kushners’ troubled CMBS-financed tower finds hope in Brookfield

CMBS bondholders and commercial real estate lenders are exhaling with relief following news that Brookfield Asset Management closed a lease on 666 Fifth Avenue, which is currently owned by Kushner Companies. Brookfield will pay upfront for the lease, helping Kushner Companies pay off more than $1bn in CMBS debt that helped finance the building’s acquisition in 2007.