Jared Kushner’s family is seeking a $250 million loan to pay back Chinese investors in a real estate development — but U. S…
Jared Kushner’s family is seeking a $250 million loan to pay back Chinese investors in a real estate development — but U. S. banks aren’ t exactly eager to do business with them.
Kushner Companies have shopping around for a loan against their 50-story Trump Bay Street luxury tower in Jersey City, which they would use to repay investors and pay off a mortgage on the development, reported Bloomberg Politics .
The family would keep $50 million from the loan, sources told the website.
The company owned by Kushner’s family funded about a quarter of the $194 million development through the EB-5 visa program granting green cards to wealthy foreigners in exchange for U. S. investment.
Some large U. S. banks are reluctant to get involved in the transaction due to Kushner’s ties to the White House, and because of the politically fraught visa program, sources said.
Three Democratic lawmakers sent a letter last week to Kushner Cos.
