Brookfield Negotiating Stake in $3.5B Hudson Square Properties Portfolio – Commercial Observer
Brookfield is in exclusive talks to acquire a stake in Hudson Square Properties.
The under-wraps deal, first reported by the Wall Street Journal, would secure Brookfield a 10 percent stake in the 13-property portfolio. The deal values the collection of in-demand buildings on Manhattan’s West Side at $3.5 billion.
Hudson Square Properties is a joint venture primarily owned by Trinity Church Wall Street and Norges Bank Investment Management.
The talks, expected to close in the coming months, would also see Brookfield take over as the joint venture’s long-term operating partner, an unnamed source told the Journal. The report did not detail where this deal leaves Hines, which joined the JV as operating partner and manager with a minority stake in 2016.
Hudson Square Properties has emerged this year as a particularly attractive hub for tech and media tenants. News of Brookfield’s deal comes fresh off the heels of Anthropic finalizing its 16-floor lease at 330 Hudson Street, owned by AEQ Capital.
Other major deals in the neighborhood –– all of which fall under Hudson Square Properties –– include massive leases at 345 Hudson Street by PayPal in late 2025 and health platform Tennr in May, as well as large lease renewals by software developer Notion at 75 Varick Street and creative production firm RadicalMedia at 435 Hudson Street.
The neighborhood, once known for its 20th century printing and graphics industry, has pivoted to emerging industries in recent years, bolstered by major arrivals from companies like Google and Disney. Its robust leasing activity this year has benefited from a citywide shortage of desirable office space and from Hudson Square’s proximity to attractive areas such as SoHo, Tribeca and the West Village.
Brookfield, Trinity Church Wall Street, Norges Bank Investment Management and Hines did not immediately respond to requests for comment.
Emily Davis can be reached at edavis@commercialobserver.com.
