Kushners Hunting Hard for a Loan to Pay Back Chinese Investors
Source: Bloomberg
by Sarah Mulholland and Caleb Melby
June 5, 2017, 5:00 AM EDT
The Kushner family real estate company is seeking a $250 million loan to pay back Chinese investors in a New Jersey luxury tower but finding some major U.S. banks wary of the controversies around its White House links and the visa program used to attract the investors.
Kushner Cos. is sending out feelers for the loan against its 50-story Trump Bay Street in Jersey City. It would keep $50 million and use the rest to repay the investors and pay off a mortgage on the building, according to a person familiar with the negotiations who asked not to be identified because the talks are private.
The company, which belongs to the family of Jared Kushner, President Donald Trumps son-in-law and senior adviser, funded about a quarter of the $194-million development through the EB-5 visa program that grants wealthy foreigners green cards in exchange for investing in U.S. projects.
Some large U.S. banks are shying away from the transaction because of the propertys connection to Kushner and the visa program, the person said. Unregulated lenders and non-U.S. banks will probably step into the breach. A Kushner Cos. spokesman declined to comment.
Read more: https://www.bloomberg.com/politics/articles/2017-06-05/kushners-hunting-hard-for-a-loan-to-pay-back-chinese-investors
bettyellen
(47,209 posts)greatauntoftriplets
(175,786 posts)Financially since he's already morally bankrupt.
ATL Ebony
(1,097 posts)I'm getting the warm & fuzzies just knowing he's about to get his comeuppance.
Bernardo de La Paz
(49,114 posts)I don't know if the "net worth" included all that debt. Perhaps some but not all. He might be getting very close to insolvent.
ck4829
(35,101 posts)in prison before too long, for TREASON. Who will repay the loan then? Could not happen to a more deserving family. Poor first lady Ivanka. She may not be able to afford those champagne popsickles once Jared is behind bars. No more massages, or Botox, either.Here is a horrible thought, she might have to raise her kids without nannies! The HORROR! Maybe she will be forced to read "her" book of advice for working mothers.
jmowreader
(50,614 posts)I figure poor Ivanka is up to her thousand-dollar eyeshadow in this. If Jared goes to the pokey, Ivanka, her daddy and his estranged wife are sure to follow.
bmbmd
(3,088 posts)they're gonna keep fifty million? Not sure I'm seeing that.
forgotmylogin
(7,540 posts)Why would you need spendin' cash if you need to repay a big loan? They must have no natural cash flow, so just need a mere 50 mil to keep Ivanka's baby in Swarovski crystal-studded onesies and champagne popsicles and Grandma's caviar truffle butt cream.
BumRushDaShow
(130,394 posts)The mob?
Jakes Progress
(11,125 posts)meow2u3
(24,783 posts)Russian oligarchs = Russian mob = Putin.
BumRushDaShow
(130,394 posts)rickford66
(5,540 posts)and then gets his investment back just like that ? Doesn't the investment have to be held for a number of years?
TeamPooka
(24,342 posts)ATL Ebony
(1,097 posts)tazkcmo
(7,310 posts)Thank you so much for the laugh!!!
Achilleaze
(15,543 posts)Sugar Smack
(18,748 posts)can't afford to even EAT!! Can't afford to EAT.
not fooled
(5,809 posts)although the thought of these grifter rats being cornered is at once satisfying and scary.
Jarhead--thought he was making his mark on the NY real estate world by buying the aptly numbered 666 building. Instead he gets shafted by buying at the peak of the market.
calimary
(81,645 posts)666 Fifth Avenue? Supposedly mortgaged to the hilt - what did I hear? 1.2 Billion dollars' worth, that comes due in two years? And the Kushner folks are underwater on that, too?
Brings me back to this:
http://www.reuters.com/article/us-usa-trump-fbi-kushner-exclusive-idUSKBN18N018
Seventh paragraph from the bottom:
FBI investigators are examining whether Russians suggested to Kushner or other Trump aides that relaxing economic sanctions would allow Russian banks to offer financing to people with ties to Trump, said the current U.S. law enforcement official.
And one of those sneaky-ass "back channel" efforts Jared tried in early December (long before his father-in-law's inauguration), as I understand it, was with a Russian bank currently hamstrung by sanctions imposed earlier by the US.
I know what that paragraph tells me. It tells me it could be a smoking gun.
flibbitygiblets
(7,220 posts)Remember that Showtime series "The Riches", about a family of gypsies who pretended to be wealthy and educated, but were actually conning everyone in town? They brazenly took everything they could get their hands on before finally being found out and flying the coop.
When Conald Grump's tax returns finally get released (I'm betting via yet another leak), all his rube supporters will find out they fell for the biggest scam of all time.
keithbvadu2
(37,130 posts)magicarpet
(14,262 posts)..... would not put it past tr-dump to do this. Frightening and funny what America has become.
Ilsa
(61,721 posts)Why would anyone loan $250m for a $194m project, if that is still its value? Has it appreciated that much? I don't think American nbanks lend 125% of value.
keithbvadu2
(37,130 posts)UpInArms
(51,299 posts)Keep $50 million .... pay off earlier investors ... let new ones hang from a short rope ... with collateral tied to a sinking ship
turbinetree
(24,757 posts)JI7
(89,305 posts)olddad56
(5,732 posts)Mz Pip
(27,473 posts)might be willing to help.
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