Kushner Cos. Buys Apartments Group For $1.1 Billion

The Wall Street Journal reports:

Kushner Cos., the family real-estate company of President Trump’s son-in-law and senior adviser Jared Kushner, said it has acquired a portfolio of rental apartments for $1.1 billion in the firm’s largest transaction in more than a decade.

The purchase comes less than a year after the company unloaded a Manhattan office tower at 666 Fifth Avenue to Brookfield Asset Management Inc. in a deal that valued the property at about $1.25 billion. The earlier transaction, in which Brookfield leased the office building for 99 years, relieved Kushner Cos. of $1.1 billion in debt due this year.

The firm, headed by Jared Kushner’s father, Charles Kushner, has faced increased scrutiny over potential conflicts of interest since Mr. Trump took office and Jared Kushner and his wife, Ivanka Trump, began working in the White House.

1. Jared Kushner’s family business is paying $1.1 billion for a portfolio of apartments
2. It plans to borrow money for about 70% of that payment

This sounds like a familiar story…https://t.co/vfGeiKeIpX

— Citizens for Ethics (@CREWcrew) February 22, 2019

Kushner leaves on a seven-day, six-country trip to the Middle East this weekend to present pieces of the peace plan. It includes a stop in Saudi Arabia, where he will meet with MBS. A little look at where Jivanka stands two years in: https://t.co/jCsSZOyM3i

— Emily Jane Fox (@emilyjanefox) February 21, 2019

Jared Kushner Is Preparing for Another Face-to-Face Meeting with Saudi Crown Prince Mohammed bin Salman https://t.co/yNnbOXUwnA

— Jon Cooper (@joncoopertweets) February 22, 2019

1. Jared Kushner’s business sought a $100 million investment from a Saudi-backed fund
2. Jared had private chats with the Saudi crown prince about how to weather the backlash after Khashoggi’s murder
3. Jared is meeting with the prince again
…
…https://t.co/8tT2zfASqr

— Citizens for Ethics (@CREWcrew) February 22, 2019

I have been wondering why Brookfield refinanced Jared Kushner’s 666 Fifth Ave, when the deal was underwater and no one would touch it: voila, their subsidiary was getting cut in on the Saudi nuclear power plant deal! https://t.co/ss3FUXKbpY

— Amy Siskind ?️‍? (@Amy_Siskind) February 22, 2019