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Pa. teachers' pensions are invested in a NYC skyscraper linked to Jared Kushner, but they probably
Pa. teachers’ pensions are invested in a NYC skyscraper linked to Jared Kushner, but they probably don’t know itHARRISBURG — Pennsylvania’s teacher pension system has more than $200 million pledged to a fund with ties to a long-troubled, high-profile New York City skyscraper linked to the family of President Donald Trump’s son-in-law, Spotlight PA has learned.
Before the coronavirus pandemic, critics told Spotlight PA the investment could face challenges because the building has struggled to attract tenants. Now, the fund — and many of those like it — face growing headwinds as COVID-19 devastates the global economy.
In October 2018, trustees of the Pennsylvania School Employee Retirement System voted to invest in Brookfield Strategic Real Estate Partners III, a fund touted in documents as an “attractive investment opportunity” for those looking to bet on various real estate sectors.
But they were apparently unaware of the fund’s stake in the troubled office building.
Read more: https://www.spotlightpa.org/news/2020/04/pennsylvania-teacher-pensions-jared-kushner-nyc-skyscraper/