12:42 PM EDT, 07/16/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) has partnered with real estate investment manager Hines to buy a Manhattan office tower for more than $300 million from AEW, Bloomberg reported Tuesday.

The sale process for the 250 Park Ave. building near JPMorgan's ( JPM ) new headquarters is being handled by a team of Newmark Group brokers, the report said, citing a person familiar with the matter. The deal has not yet closed.

Spokespeople for JPMorgan ( JPM ) and Hines declined to comment to Bloomberg, while AEW and Newmark didn't respond.

JPMorgan ( JPM ), Hines, Newmark and AEW did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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