{"id":58672,"date":"2019-02-26T01:02:08","date_gmt":"2019-02-26T01:02:08","guid":{"rendered":"https:\/\/www.thefastfashion.com\/?p=58672"},"modified":"2019-02-26T01:02:08","modified_gmt":"2019-02-26T01:02:08","slug":"kushner-company-reportedly-seeking-federal-loan-1-15-billion-real-estate-deal","status":"publish","type":"post","link":"https:\/\/www.thefastfashion.com\/?p=58672","title":{"rendered":"Kushner Company Reportedly Seeking Federal Loan For $1.15 Billion Real Estate Deal"},"content":{"rendered":"

Jared Kushner\u2019s family real estate business is seeking federal financing for a $1.15 billion real estate deal, Bloomberg reports.<\/p>\n

Kushner Cos. has been in talks with federal lenders Fannie Mae and Freddie Mac about backing for its purchase of more than 6,000 rental apartments in 16 properties in Maryland and Virginia from private equity firm Lone Star Funds, two sources told Bloomberg. It\u2019s not clear how much money the company is seeking.<\/p>\n

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It\u2019s the firm\u2019s biggest deal in more than a decade, The Wall Street Journal reported.<\/p>\n

Kushner Cos. president Laurent Morali told the Journal that the firm plans to borrow about 70 percent of the cost of the Lone Star package. He said Kushner Cos. was \u201crunning a competitive process\u201d to choose a lender, the Journal reported. Morali apparently didn\u2019t mention the federal lenders to the Journal.<\/p>\n

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President Donald Trump\u2019s son-in-law relinquished his management role at Kushner Cos. and divested from some assets in the family business when he became senior White House adviser. At that time the company held more than $500 million in loans from Fannie Mae and Freddie Mac, according to Bloomberg.<\/p>\n

But Kushner remains a key stakeholder in the company and real estate deals. The real estate holdings and other investments of Kushner and his wife, Ivanka Trump, were worth as much as $811 million last year, according to 2018 financial filings.<\/p>\n

 

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