Jared Kushner’s Kushner Companies is planning to lend $1 billion or $200 Million annually, to developers over the next five years. The decsion to make an effort to provide lending as part of the business a year ago.
The Real Deal first reported in May that Kushner Companies had quietly launched a lending arm, and bought the mezzanine debt on JDS Development and the Chetrit Group’s 9 DeKalb Avenue.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
According TRD, the firm plans to issue preferred equity, mezzanine debt and senior debt ranging from $20 million to $500 million.
“We have very ambitious objectives for 2017 and would like to do at least $200 million per year with the expectations of placing roughly $1 billion over the next five years, ” Laurent Morali, president of Kushner Companies told the New York Post.
On Monday, TRD reported that Kushner Credit Opportunity Fund is backing Toby Moskovits’ Bushwick mixed-use project 215 Moore Street with a $33 million loan.
Kushner Morali explained: “We like the opportunity to deploy our capital in a different place in the capital stack.”
Kushner Cos., founded by Charles Kushner, and more recently led by son Jared, appointed Morali as president earlier this year. [NYP] — Konrad Putzier
