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Kering Brings Ardian Into Fifth Avenue Flagship in US$900m Joint Venture
THE WHAT? Kering has finalised a joint venture with investment firm Ardian covering its landmark luxury retail property at 715–717 Fifth Avenue in New York. THE DETAILS Under the agreement, Ardian holds a 60% stake in the newly created vehicle, with Kering retaining 40%. The Fifth Avenue asset comprises approximately 115,000 sq. ft of…