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The real estate company headed by White House advisor Jared Kushner has made his biggest deal in more than a decade.
Kushner Cos. Paid $ 1.1 billion for a portfolio of about 6,000 apartments in Maryland and Virginia, which belonged to Lone Star Funds, according to an article published Friday by The Wall Street Journal.
This is Kushner Cos's most expensive purchase since paying $ 1.8 billion for a Manhattan skyscraper in 2007.
The debt contracted during the 2007 deal put Kushner Cos's finances under severe strain until last year, when the property was sold to Brookfield Asset Management. The 41-storey tower at 666 Fifth Ave. still sits at Kushner Cos. under a 99-year lease with Brookfield.
The relations of Kushner Cos. They are being scrutinized for their connection with Jared Kushner, President Donald Trump's son-in-law and senior advisor. The company is run by Jared Kushner's father, Charles.
Kushner Cos. He did not respond to a request for comment made Saturday by the Associated Press. Earlier, the company had stated that it had become more difficult to do business because of the heightened attention given to Jared Kushner's relationship with Trump, whose own commercial interests raised questions about the conflicts potential with his duties at the Oval Office.
With his latest acquisition, Kushner Cos. Now has about 22,000 apartments and plans to increase its portfolio to nearly 30,000 units, according to the Journal.
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