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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsKushner Cos. Gets $800 Million Federally Backed Apartment Loan
Kushner Cos., the real estate firm owned by the family of President Donald Trumps son-in-law Jared Kushner, has received about $800 million in federally backed debt to buy apartments in Maryland and Virginia -- the companys biggest purchase in a decade.
The loan was issued by Berkadia, a lender co-owned by Warren Buffetts Berkshire Hathaway Inc. and Jefferies Financial Group Inc., in a deal thats backed by government-owned Freddie Mac, according to a person familiar with the matter who asked not to be named discussing the private transaction.
The arrangement increases the governments exposure to Kushner Cos. at the same time that its former chief executive officer is one of the most powerful people in the White House. Jared Kushner divested ownership in many of the companys assets to close family members when he joined the government. Kushner Cos. had more than $500 million in loans from Fannie and Freddie at that time.
Spokespeople for Kushner Cos., Berkadia and Freddie Mac didnt respond to requests for comment. Peter Mirijanian, a spokesman for Jared Kushners attorney Abbe Lowell, has frequently said that Kushner has no involvement in the companys management.
As part of an ethics agreement he has and has followed, Mr. Kushner has had no role in the Kushner Companies or its activities since joining the government over two years ago, Mirijanian said in a February email when Bloomberg first reported on the governments potential involvement. He is walled off from any business or investment decisions and has no idea or knowledge of these activities."
https://www.bloomberg.com/news/articles/2019-05-23/kushner-cos-gets-800-million-federally-backed-apartment-loan?fbclid=IwAR22cdzvKzRkdqlcS3JCxKmCBiqEDvNMV72jBuDnl5QPb_cSMfPOK6ftoNw
The Velveteen Ocelot
(115,830 posts)dalton99a
(81,570 posts)Yeah, right
jls4561
(1,260 posts)Oh, please.
Hoyt
(54,770 posts)I despise that sniveled POS kush, but everything is not a conspiracy.
JHB
(37,161 posts)So this particular corruption is not connected to the virus relief slush fund.
That'll be a whole new set of corrupt deals.