Kushners are having trouble finding $250 million to repay Chinese investors
-
The Kushner family real estate company is seeking a $250 million loan to pay back Chinese investors in a New Jersey luxury tower, but it is finding some major US banks wary of the controversies around its White House links and the visa program used to attract the investors.
Kushner Cos. is sending out feelers for the loan against its 50-story Trump Bay Street in Jersey City. It would keep $50 million and use the rest to repay the investors and pay off a mortgage on the building, according to a person familiar with the negotiations who asked not to be identified because the talks are private.
The company, which belongs to the family of Jared Kushner, President Trump’s son-in-law and senior adviser, funded about a quarter of the $194-million development through the EB-5 visa program that grants wealthy foreigners green cards in exchange for investing in US projects.
Some large US banks are shying away from the transaction because of the property’s connection to Kushner and the visa program, the person said. Unregulated lenders and non-US banks will probably step into the breach. A Kushner Cos. spokesman declined to comment.
-
If Jared Kushner needs $250 million, all he needs to do is look under the seat cushion's of his father-in-law's couch.
-
The Kushner family real estate company is seeking a $250 million loan to pay back Chinese investors in a New Jersey luxury tower, but it is finding some major US banks wary of the controversies around its White House links and the visa program used to attract the investors.
Kushner Cos. is sending out feelers for the loan against its 50-story Trump Bay Street in Jersey City. It would keep $50 million and use the rest to repay the investors and pay off a mortgage on the building, according to a person familiar with the negotiations who asked not to be identified because the talks are private.
The company, which belongs to the family of Jared Kushner, President Trump’s son-in-law and senior adviser, funded about a quarter of the $194-million development through the EB-5 visa program that grants wealthy foreigners green cards in exchange for investing in US projects.
Some large US banks are shying away from the transaction because of the property’s connection to Kushner and the visa program, the person said. Unregulated lenders and non-US banks will probably step into the breach. A Kushner Cos. spokesman declined to comment.
Kushner stepped down as CEO of Kushner Cos. so that he could serve the USA and work for his father in law Donald Trump. Jared Kushner no longer is associated with Kushner Cos. So why do you even post about it? It has zero relevance. But then again, I can't recall the last time one of your comments had any relevance.
