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Brookfield in Talks for Stake in Hudson Square Properties
Brookfield is in exclusive talks to acquire a stake in Hudson Square Properties in a deal that would value the complex at $3.5 billion, the Wall Street Journal reported. The asset management giant would own 10% of the 13-building, 6.2 million-square-foot portfolio, and would take over as its long-term operating partner.
The Hudson Square office district has experienced robust leasing over the past year as rapidly growng tech companies snap up space, reported the WSJ. Artificial-intelligence firms in particular are driving the demand, with Anthropic announcing last week that it had leased an entire 16-story building at 330 Hudson St.
If the deal goes through, it would make Brookfield a partner with Trinity Church and Norges Bank Investment Management (NBIM). Trinity Church, which has owned the land on which the portfolio sits since 1705, brought in NBIM to transform what was then a collection of printing facilities into a modern creative hub.
Pictured: 345 Hudson St., part of the Hudson Square Properties portfolio.
- ◦Sale/Acquisition
