Jump to content
JWTalk - Jehovah's Witnesses Online Community

Wilbur Ross raising money for purchase of Jehovah's Witnesses' Brooklyn headquarters


We lock topics that are over 365 days old, and the last reply made in this topic was 3971 days ago. If you want to discuss this subject, we prefer that you start a new topic.

Recommended Posts

This article goes well with the previous Topic "End of av Era".

 

 

brooklyn.jpg

 

New York – Billionaire investor Wilbur Ross is raising $75 million for Invesco Advisers’ deal to buy the Brooklyn headquarters of Jehovah’s Witnesses, The Post has learned.

Invesco has emerged as the third — and dominant — investor in the $240 million real-estate transaction, which has been heralded as the borough’s largest real-estate deal this year.

Invesco has teamed with Jared Kushner’s Kushner Cos. and Aby Rosen’s RFR Holdings. The deal is already in contract and is set to close on Sept. 3.

The Invesco Mortgage Recovery Fund will put 90 percent of the equity in the deal, according to a confidential July 24 memo to prospective investors from WL Ross & Co., which is affiliated with Invesco.

Ross could not be reached for comment.

RFR and Kushner will put up the rest of the $167 million in equity, while the Natixis bank has committed to providing $244 million of financing.

The property includes a five-building complex encompassing about 973,000 square feet of office and retail space located in the DUMBO portion of the Brooklyn waterfront, according to the memo.

It has served as the headquarters for Jehovah’s Witnesses since the early 1900s. The group is selling it as part of a move to consolidate its operations in upstate New York.

In the memo, a copy of which was seen by The Post, Ross said, “The fund is comfortable investing the full equity amount but is willing to accept up to $75 million in co-investment capital.”

Investors have until noon today to sign on.

Article written by MICHELLE CELARIER on NEW YORK POST

http://www.nypost.com/p/news/business/ross_for_jehovah_witnesses_bldgs_KOMLwtYiTfQj3e0Ly5fSMK

 

Link to comment
Share on other sites

  • Recently Browsing   0 members

    • No registered users viewing this page.

About JWTalk.net - Jehovah's Witnesses Online Community

Since 2006, JWTalk has proved to be a well-moderated online community for real Jehovah's Witnesses on the web. However, our community is not an official website of Jehovah's Witnesses. It is not endorsed, sponsored, or maintained by any legal entity used by Jehovah's Witnesses. We are a pro-JW community maintained by brothers and sisters around the world. We expect all community members to be active publishers in their congregations, therefore, please do not apply for membership if you are not currently one of Jehovah's Witnesses.

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

JWTalk 23.8.11 (changelog)